G7 global tax agreement will 'level the playing field'

The G7 group of leading economies has agreed an "historic deal" on taxing multinational corporations.

Speaking outside Winfield House in London's Regents Park, the US Treasury Secretary Janet Yellen said the minimum rate of at least 15% would end "the race to the bottom in corporate taxation".

The deal, reached by the group's finance ministers, has been described as "an historic reform to the global tax system" by the Chancellor Rishi Sunak.

Read more: Rich nations back deal to tax multinationals

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