The G7 has agreed a deal on tackling corporate tax avoidance by big tech companies.
“It’s a proud moment”, said Chancellor Rishi Sunak as G7 finance ministers committed to a global minimum tax of at least 15%.
Mr Sunak said it “meant the right companies pay the right tax in the right places”.
He called it a “historic agreement that finally brings our global tax system into the 21st century”, adding: “We’re going to level the playing field and inject some fairness into the system.”
Rich nations have struggled for years to agree a way to raise more revenue from large multinationals such as Google, Amazon and Facebook, which often book profits in jurisdictions where they pay little or no tax.