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Labour set to propose plan for windfall tax for tech firms

Labour Party leader Jeremy Corbyn is set to float the idea of introducing a windfall tax that could be levied on tech giants to pay for public interest journalism.

The British politician is set to make a series of radical proposals in relation to the media industry, including the idea of introducing a "digital licence fee", which would be paid for by big tech companies and internet firms such as Google and Facebook.

In an upcoming speech, Corbyn is set to say: "The best journalism takes on the powerful, in the corporate world as well as government and helps create an informed public.

"This work costs money. We value it but somehow that does not translate into proper funding and legal support."

However, James Cleverly - the deputy chair of the Conservative Party - has already rubbished the suggestions, saying they are economically illiterate.

Cleverly also claimed that the proposed move would hurt consumers in the UK.

He added: "Tech companies would just put up their prices and pass this Internet Tax straight onto families and businesses across the country - adding more pressure to weekly bills."

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