Following the deal between Google UK and HMRC, and the revelations in the Panama Papers, I believe we need a real tax reform agenda, based on the principle of complete openness and transparency- that is why I support the #ShowMeTheMoney campaign.•
I understand the growing sense of huge injustice that is felt when large multinationals are able to shift their profits so easily and avoid the taxes that they should be paying. I know a number of international development charities are supporting the #ShowMeTheMoney amendment because of the impact on the revenues of developing countries of tax avoidance and evasion.
Millions of British people and businesses pay their fair share of taxes and those multinational companies which try and avoid doing the same should be stopped. Multinational companies should make public how much they pay in tax on a country by country basis, so that a proper rate of tax can be applied. I fully support the Opposition’s Tax Transparency Enforcement Programme which includes proposals for HMRC to be properly resourced to investigate tax avoidance and evasion.
I voted against the Second Reading of the Finance Bill as it failed the fairness test. If we want to ensure that tax avoiders and tax evaders pay their fair share of tax, the Finance Bill will need to be toughened up considerably.•