Nothing angers the British public more than multinationals like Amazon, Google and others paying ultra low levels of tax.

The Biden plan is a once in a generation opportunity to put that right. The US president has proposed a new global minimum tax rate for companies to tackle this behaviour. After a year in which many big tech firms have done well, we need to build back better and move beyond our outdated global tax system.

The UK could benefit to the tune of £13.5 billion a year and it would help to level the playing field for many British businesses who can’t dodge their taxes.