Treasure Islands sales: up 20,459%
PS yes, this image is from tax-dodging Amazon, but the fact is that this problem is systemic. As Andy Street, the head of UK retailing giant John Lewis warned recently: multinationals involved in overseas tax havens will "outinvest and ultimately out-trade" businesses paying full taxes in the UK, risking driving them out of business.
"They will outinvest and ultimately out-trade us and that means there will not be the tax base in the UK. So I do think it's an issue that needs to be examined."Well said. This is about distortions in, and the corruption of, markets. As such, it is an issue that can be embraced by those on the left and the right of the political spectrum. TJN has many supporters on both sides.
Street said that the issue was wider than any rivalry between Amazon, the online retailer that was heavily criticised on Monday by MPs examining tax avoidance schemes, and John Lewis.
He said: "It's to do with what our customers expect around a fair and level playing field and I suspect our customers do think both companies should be treated in the same way."