Chancellor targets ‘fair’ tax measures for digital firms at G7 finance summit

·1-min read

Chancellor Rishi Sunak will welcome overseas ministers in London for the first in-person G7 finance meeting since the start of the pandemic.

Ministers from the US, Japan, France, Canada, Germany and Italy will attend the two-day meeting at Lancaster House in London, ahead of the leaders’ summit in Cornwall next weekend.

They will discuss measures to tackle climate change as well as efforts to secure an international agreement on how digital companies are taxed.

G7 Finance Ministers meeting
Chancellor of the Exchequer Rishi Sunak meets with US Treasury Secretary Janet Yellen (Hannah McKay/PA)

Speaking ahead of the meeting, Mr Sunak said: “The G7 is a hugely important grouping and it’s an honour to be welcoming my counterparts to London with a renewed spirit of multilateral cooperation.

“Even before holding the G7 Presidency we’ve been clear on our priorities – protecting jobs, ensuring a green and global recovery and supporting the world’s most vulnerable countries.

“Securing a global agreement on digital taxation has also been a key priority this year – we want companies to pay the right amount of tax in the right place, and I hope we can reach a fair deal with our partners.

“I’m determined we work together and unite to tackle the world’s most pressing economic challenges – and I’m hugely optimistic that we will deliver some concrete outcomes this weekend.

“Together we can make a real change and help steer the international community through the next stage of our recovery.”