UK Labour Party Proposes Big-Tech Tax to Pay for Nationalisation of Broadband, Free Fibre for All

UK Labour Party Proposes Big-Tech Tax to Pay for Nationalisation of Broadband, Free Fibre for All

5 years ago
Anonymous $xdcOWPpsb_

https://wccftech.com/labour-proposes-big-tech-tax-nationalisation-of-broadband-free-fibre-for-all/

Naturally, when it comes to election season in any country, unrealistic and some ultimately unattainable promises are made by politicians on every side. I don't want this to be an overly political piece so that's about as much as I'm going to say on that aspect, bar one particular promise. This promise? A tax against big-tech companies that will pay for the part-nationalisation of BT (LON:BT.A), particularly their broadband arm, Openreach. The aim, to pay for free fibre-broadband for every single household in the United Kingdom.

Here in the UK, we are still running at a deficit of £25.5bn (1.2% GDP) with a national debt of £1.821 trillion in the financial year ending March 2019. Naturally, a plan that is proposed to cost an extra £15.3 billion, in addition to the £5bn already promised towards the rollout of broadband across the country, has to be paid in some way. It is also worth noting that the head of BT has suggested that the cost would be closer to £100bn, not the £20bn said by the Labour party.

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