A “SMASH and grab” online shopping tax raid would kick-start a excessive road fightback, the Chancellor has been advised.

Stores face close to wipe-out if the imbalance with tech giants isn’t levelled by Rishi Sunak, campaigners warn.

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Rishi Sunak is bing urged to save the High Street by taxing AmazonCredit: Reuters
Amazon's revenue reached £19billion last year after a 51 per cent increase

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Amazon’s income reached £19billion final 12 months after a 51 per cent enhance

Urgent requires change come after Amazon’s newest accounts present their UK revenues rose by 51 per cent to £19billion final 12 months.

The US agency’s gross sales listed here are FIVE TIMES greater than Next and double Marks and Spencer’s.

Ministers introduced final 12 months that they have been reviewing enterprise charges and they’re going to take into account the case for the online gross sales tax, which might increase money in the wake of the pandemic.

Tory MP Duncan Baker stated: “A levy smash and seize raid of two per cent may very well be paid.

“Amazon are ever increasing their share with £1 in every £20 spent in retail going to the firm.”

Labour’s Bridget Phillipson, Shadow Chief Secretary to the Treasury, stated: “We need to see action for a level playing field on tax between online and bricks and mortar shops.”

The Treasury stated: “Our business rates review asked if we should shift the balance between online and physical shops with an online sales tax. We’re ­considering responses now.”

Amazon say they made a complete tax contribution of £1.1 billion in 2019 and created 10,000 new jobs final 12 months, bringing their complete workforce to greater than 40,000.

Jeff Bezos stepping down as Amazon CEO and says it’s ‘optimal time’ for Andy Jassy to takeover

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