The Government's plan to make online giants collect unpaid VAT could raise £1 billion to help cut business rates and support struggling high streets, according to a report.
Long-overdue action on tax loopholes
For too long, Britain's high streets have been forced to compete against overseas online sellers using loopholes to avoid paying their fair share of tax. While independent shops struggle with soaring costs, crippling business rates and dwindling footfall, some foreign traders have enjoyed an unfair advantage that should have been stamped out years ago.
Chancellor John Healey's reported plan to make online giants such as Amazon and eBay responsible for collecting unpaid VAT is welcome, if long overdue. The crackdown could raise £1 billion, money that would be put to far better use, cutting business rates and giving struggling shops a fighting chance.
Enforcement and support needed
But the Government must ensure the new rules are properly enforced, and the savings reach the businesses that desperately need them. Our high streets provide jobs, support families and remain the beating heart of communities across Britain.
They have endured years of unfair competition and economic hardship while successive governments failed to act. They deserve a fair deal.
