Tax havens and evasion
The UK should be at the heart of efforts to achieve international progress on tax transparency and accountability. Tax havens are estimated to cost poor countries at least $170 billion in lost tax revenues every year. They damage our own economy and economies across the world, and need to be addressed. I have raised this issue with the Government in the form of a written question, which you can view here.
I believe there needs to be reform based on the principle of complete openness and transparency. 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. Many multinational companies make a significant contribution to research and development and through the employment they provide, but we expect all companies to meet fair tax responsibilities.