TECH EXTRA £7.9BN FOR HOSPITALS

Labour demand on G7 tax deal

- NIGEL NELSON and CHRIS MCLAUGHLIN

LABOUR has called on Rishi Sunak to pump £93million a week into hospitals and rescuing struggling school kids after a historic tax deal landed a near-£8billion boost.

The money will come from a landmark global agreement reached yesterday to stop online giants shirking their tax responsibilities.

Shadow Chancellor Rachel Reeves said: “We want that money going into the NHS, our hospitals and schools.”

Warning that the NHS has a record backlog of care due to Covid, British Medical Association chair Dr Chaand Nagpaul insisted: “The Government must use this opportunity to make health an absolute priority.”

And TUC general secretary Frances O’Grady added: “It’s only right that big global corporations pay their way.

“They make profits here and rely on the public services the rest of us pay for – so they should contribute too.”

The deal means giants such as Amazon, Google and Facebook will have to pay “at least” 15% corporation tax wherever they are in the world – rather than marking all their profits up to countries where tax is lowest.

If firm trading in the UK moves to a lower-tax country such as Singapore, the Treasury will be able to levy a “topup” tax on profits generated here.