TX: Jeff Randall Live,1900 Wednesday 14 November on Sky News   EMBARGOED UNTIL 1900, Wednesday 14November  

Any quotes used must credit Sky News   The Managing Director of retail chain John Lewis, has become the first leader of a British business to call on the Government to examine the way foreign multinationals pay tax in the UK.   Andy Street says the Treasury needs to do more to prevent the likes of online retailer Amazon "destroying the UK tax base" and putting UK companies out of business.   Mr Street agreed with Jeff Randall Live that without Government action they will out trade British business to destruction.   Earlier this week, online retailer Amazon alongside Google and Starbucks came in for criticism from MPs when they appeared before the Public Accounts Committee.  

FULL TRANSCRIPT:   

Andy Street: In the short-term this probably will not show in terms of the difference but in the long term it will and let me explain why. If you actually improve your business by investing, what that means is you have got less money to invest if you’re giving 27% of your profits to the Exchequer, than clearly if your domiciled in a tax haven and you’ve got much more, so they will out invest and ultimately out trade us and that means there will not be the tax base in the UK. So I do think it’s an issue that needs to be examined.   

Jeff Randall: So, in extreme companies like Amazon and let’s face it they compete with you. They win you lose, you’re a tax payer, we the British public lose your tax donations.   

AS: It’s very generous to put you it in the John Lewis, Amazon piece but I think it’s actually broader than that, I think it’s to do with that our customers expect around a fair and level playing field and I suspect our customers do think both companies should be treated in the same way.   

JR: Well not just your customers, all tax payers in the UK. So what must the Exchequer do to level that field?   

AS: Well, Lord Myners said we've actually got to look at this whole question about whether or not earnings are earnt in a particular country had somehow to be taxed in that country. Exactly how that happens I don’t know but that’s the principle that needs to be examined.   

JR: Let’s not beat about the bush, we’re not talking about any old company here, we’re talking about Amazon, it’s a leviathan, does the treasury have to address the Amazon problem?   

AS: I think it should look at exactly what’s happening, yes.  

ENDS  

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