The UK Labour party wants to tax Amazon, Facebook and Google to fund a $25 billion plan for free, high-speed internet for the whole country
UK Labour proposed a new tax on tech giants including Amazon and Google which would allow for free, high-speed internet for the whole country. on Thursday to buy up most of the UK's existing internet infrastructures for an estimated cost of £20 billion , which it pledged to massively expand.
The plan is one of several proposals to nationalize private industries in the UK, which Labour hopes will help them win power in the upcoming general election against the incumbent Conservative party. The plan is one of several proposals to nationalize private industries in the UK, which Labour hopes will help them win power in the upcoming general election, scheduled for December 12.
In addition there would be a recurring annual cost of around $300 million, Labour said, which would be "more than covered" by plans to reform tax laws to extract more money from multinationals.
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