G7 and NATO Summits

Baroness Blackstone Excerpts

Thursday 17th June 2021 Lords Chamber

[Baroness Evans of Bowes Park (Con)]

I thank the noble Lord for his comments. He is right that this is a huge global challenge and we all need to work together to deliver on it. However, I point out that the Oxford vaccine is a very important way of helping tackle this pandemic. Of course, we part-funded it, and it is being produced at cost to low and middle-income countries and at scale through manufacturing partnerships across the world. This is already ensuring that more than half a billion doses of the vaccine are available across the world. Of course, we have to ensure that we continue to roll it out, but it is also worth remembering the huge contribution that we have already made through the Oxford vaccine.

[Baroness Blackstone (Ind Lab)]

My Lords, I am not sure which specific question my noble friend the Leader of the Opposition wanted the Minister to answer, but there is one that she put to her that I would like to repeat, to give the Leader of the House the opportunity to answer it at the Dispatch Box today. From the beginning of discussions on global corporation tax, other countries in the G7 indicated support for an initial rate of 21%, so why do the Government seek to weaken it? Could the noble Baroness please answer that question? At the same time, can she make clear what the Government will do to strengthen global tax systems as a matter of urgency to stop the continuing tax dodging of firms such as Amazon and Google?

[Baroness Evans of Bowes Park (Con)]

As I said, this was a major breakthrough, and different countries of course have different views on what the minimum rate will be. Compromise is necessary to reach the final agreement among the 130 members of the OECD inclusive framework, but we think that the position agreed at the G7 is one that the OECD and G20 can coalesce around.