Daily Telegraph reports on new research from the Centre for Policy Studies which calculated the introduction of a new online sales tax (OST) would cost Britain’s poorest households £76 per year, with average households being hit with a £175 annual bill.
Seen by some as a way to level the playing field between online and high-street retail, the introduction of an OST would be “complicated, expensive, and distortionary” while placing an additional burden on small businesses and driving up costs to consumers.
“My hope is that they wouldn’t be silly enough to introduce a new consumer tax at a time like this,” said Tom Clougherty, Head of Tax at the Centre for Policy Studies and the report’s author.
Read the article here.
Date Added: Tuesday 21st June 2022