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The UK Autumn Budget gets tough on tech companies and tax

Engadget

During yesterday's Autumn statement, Chancellor Philip Hammond outlined positive measures to push the adoption of autonomous and electric cars, develop new 5G networks, treble the number of computer science teachers and further research into AI and robotics. But tucked away in the 88-page document were small changes that show the UK government plans to get a lot tougher on technology companies that aren't willing to give back as much as they should. The most important notice came during Hammond's budget speech. As he pledged £400 million for a UK-wide EV charging network and a £100 million subsidy for electric car buyers, the finance minister also outlined steps to claw back money from tech giants like Google, Amazon and Apple, which use legal loopholes to avoid paying tax in the UK. "Multinational digital businesses pay billions of pounds in royalties to jurisdictions where they are not taxed – and some of these royalties relate to UK sales," said Hammond in his speech.