02 July, 2021
Big companies to pay fair share
Global tax deal
130 countries have agreed to overhaul tax systems to make big companies pay their fair share. All G20 countries - including the US, UK, and China - backed the deal. Negotiators proposed a minimum corporate tax rate of at least 15%. The US Treasury Secretary is happy, saying international tax competition and the “race to the bottom” is coming to an end.
No EU access for City
Chancellor Rishi Sunak has suggested that Britain's financial services sector won't get access to the EU's markets, and that he has given up on the equivalence deals that he wanted. Instead, he plans to make the most of the UK’s freedom to set its own rules.
New UK job ads
200,000 new job ads were posted in the final week of June, and there are now 1.5 million job vacancies across the country. As the post-pandemic economic recovery begins, the Recruitment and Employment Confederation (REC) described the demand for staff as “buoyant”.
Rich vs Jeff
Virgin Galactic’s Richard Branson has announced he will take off into space on 11 July. He’s aiming to beat fellow billionaire Jeff Bezos by just nine days. Virgin Galactic’s fourth trip to space will launch from New Mexico, and Bezos will launch from West Texas on the 52nd anniversary of the Apollo 11 moon landing.