Government defends super deduction

Government defends “super-deduction” scheme Following concerns that the Government’s £25bn "super-deduction" scheme could wipe out any taxes paid by large companies such as Amazon, the secretary of state for digital, culture, media and sport defended the policy. Oliver Dowden said: "It is a good thing if companies are going to be investing in tech: that's the point, to encourage companies to invest heavily while many of them, particularly in the tech sector, are sitting on very large amounts of cash. That will help drive tech growth. I don't have a problem with that but I do want to make sure that everyone pays a fair share." Mr Dowden went on to argue that there needed to be a "global approach" to resolving Amazon's low UK tax bill, citing "complex intellectual property-licensing regimes". He said: "It has to be done at an international level and the chancellor is making it a priority for the G7."