UK Government may introduce “Amazon tax” to help independent retailers

Chancellor of Exchequer Philip Hammond has told Sky News that says he is strongly considering introducing a tax on online sellers such as Amazon in order to help level the playing field for brick and mortar retailers.

"More and more of us are buying online. Indeed, Britain has the biggest percentage of online shopping of any major developed economy. That means the high street will change," said Hammond.

"We’re very clear that you have to support the high street through that process of change.

"The nature of the offer on the high street is going to change over time. There’s going to be less retail, more leisure, bars, community facilities."

The chancellor added that he was minded to follow the EU’s lead and introduce a charge that has been billed as an "Amazon tax". He said: "The EU has been talking about a tax on online platform businesses based on value generated.

"That’s certainly something we’d be prepared to consider."