Chancellor Rishi Sunak is considering tax increases for tech firms and online retailers such as Amazon that have raked in business during the pandemic, according to reports.
Treasury officials summoned tech firms and retailers to discuss this month how an “online sales tax” would work, according to leaked emails seen by the Sunday Times.
Meanwhile, the Downing Street policy unit is also planning an “excessive profits tax” on companies whose profits surged because of the Covid-19 crisis, the newspaper said.
Neither tax rise is expected in the March 3 budget, but they could arrive later this year. It comes as Mr Sunak was reportedly considering raising the limit on in-person contactless transactions from £45 to £100.