23 May 2013
Chuka Umunna

Ed's Google Speech and What It Means for Responsible Capitalism

Member of Parliament for Streatham and Shadow Secretary of State for Business, Innovation and Skills

On Wednesday, Ed Miliband made a speech at Google - a business that has been making headlines recently for all the wrong reasons. To the outsider, the profitability of its business model looks plain to see. Yet of £3bn of revenue earned in the UK, it has paid only £3m in tax. Google are not alone in this seeming imbalance. The UK tax bill paid by companies from Amazon to Apple to Starbucks has raised deep concerns among businesses and families who pay their fair share. These are all prominent examples of a more general conundrum: the struggles for national governments framing tax rules for global companies.

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