The UK is losing tens of billions in taxes as corporate giants like Amazon, Starbucks and Fiat funnel profits through EU tax havens. Brexit was supposed to end this scandal, but a scathing analysis in today’s Daily Express by tax expert Bob Lyddon reveals the problem remains as bad as ever.
Lyddon points the finger at ‘Remainers’ for keeping Britain shackled to EU financial rules that let these companies avoid paying their fair share. He singles out Theresa May’s government, accusing it of failing to protect British taxpayers by tying the UK to EU regulations before Brexit was finalised.
The controversy reignited this week after the European Commission quietly dropped state aid investigations into sweetheart tax deals for multinationals in Luxembourg and the Netherlands. These deals allow companies to channel billions in UK-earned profits into low-tax jurisdictions, depriving the UK Treasury of crucial funds.
Lyddon warns that Sir Keir Starmer’s push for closer ties with Brussels won’t stop the drain. He claims the potential ‘tax betrayal’ would leave UK taxpayers footing the bill while EU nations rake in the rewards.
The issue has sparked fury among Brexiteers, who argue that Brexit’s potential for tax reform has been squandered. They demand urgent action to force these corporations to pay their share on UK soil.
As Britain battles a cost-of-living crisis, questions are mounting over why ordinary citizens are left picking up the tab for mega-rich corporations exploiting EU loopholes.
Isn’t it time for a crackdown, or will the UK continue to lose out?
