British Chancellor George Osborne has announced a 25 percent tax on "profits generated by multinationals from economic activity here in the UK which they then artificially shift out of the country," the BBC reports. The move is forecast to generate an extra £1 billion in tax revenue over the next five years, on top of £4 billion pulled in from cracking down on tax breaks for banks. Both predictions are disputed by the Office for Budget Responsibility, which suggests that the situation is too complex to pin down definite numbers.
