San Francisco rejects 'tech tax' plan to require firms to back housing programs

Plan would have imposed 1.5% payroll tax on companies such as Uber, Google and Airbnb, which generate more than $1m in revenues yearly

San Francisco has voted against a proposal known as the "tech tax" which would have forced the area's biggest technology firms to fund initiatives to provide affordable housing and tackle the city's homeless problem.

The tax, which would have been on the ballot in the city in November, would have imposed a 1.5% payroll levy on technology companies that generate more than $1m in revenues a year, including Uber, Google, Twitter and Airbnb.