Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent assessment has she made of the potential merits of increasing the level of taxation on social media firms.

The UK is already levying the Digital Services Tax (DST), a 2 per cent tax to ensure that providers of search engines, social media platforms, and online marketplaces pay UK tax on digital services that reflects the value they derive from UK users.

The DST is an interim solution to widely held concerns with international corporate tax, and the UK remains committed to remove it once a global solution on the taxation of the digital economy through Pillar 1 of the G20-OECD Inclusive Framework project is in place.