Lib Dems Call on Government to rule out £6 billion tax cut for US tech giants like Musk

The Government must rule out proposals floated in the Budget that could slash billions in digital services tax for tech giants like Elon Musk, the Welsh Liberal Democrat Westminster Spokesperson David Chadwick has said.

The Digital Services Tax is forecast to add over £6 billion to the public finances through 2030/31 - raising revenue from online giants such as X (formerly Twitter).

However, the Digital Services Tax review, quietly published amongst the many Budget documents, made a veiled reference to Trump's White House in referencing "a lot of interest from stakeholders around the future of DST". The review also stated that the UK Government was "committed to remov[ing] it once an appropriate global solution on the reallocation of taxing rights is in place".

The Lib Dems warned that if the Government were to cave into the White House's demands to cut bills for tech barons like Musk while punishing hardworking families, it would be a scandal.

Commenting, Welsh Liberal Democrat Westminster Spokesperson David Chadwick MP said:

“If the UK Labour government is preparing to slash taxes for the world's richest man, Elon Musk, while hiking taxes for millions of Welsh families, this would be nothing short of a scandal.

“Rather than bowing down to Trump and his US tech barons, it's about time the Government asks those social media giants who are making billions in profit and risking our children's health and safety, to pay their fair share."

ENDS