Osborne, Barclays, the Cayman Islands and tax avoidance
Left Foot Forward reported today that on Monday, Action Aid delivered a petition of more than 33,000 signatures calling for the government to close tax loopholes to the Treasury. Labour has promised to lodge amendments to the finance bill legislation, and Department for International Development and Treasury shadows Rushanara Ali and Owen Smith, respectively, accepted a copy of the petition on behalf of the party.
Smith has complained that this isn’t the first time they’ve raised serious concerns over this issue with the government:
“In last year’s finance bill, Labour urged the government to provide a full impact assessment of the effect of the CFC changes on developing countries. In addition to repeating this call, we shall also be asking the government for assurances that the changes won’t cost jobs at home and won’t facilitate tax avoidance abroad.”
The finance bill will be debated in the House on Wednesday and Thursday.
You can read the article here.