Panama Papers

Lord Davies of Stamford Excerpts

Monday 11th April 2016 Lords Chamber

[Baroness Stowell of Beeston]

I am not able to provide a full guest list of those who are going to be at the anti-corruption summit in May. On the noble Lord’s question about tier 1 visas, that is a matter that I will have to follow up with him in writing: it is not one that I have information on right now. I can say to him that part of the action that this Government have been taking over the past few years and will continue to take is about tackling money laundering. What we are trying to do here is tackle crimes. We want to eradicate corruption. We want to go after the criminals and do everything that we can. If there are avenues open to us that we have not yet pursued, we will be pursuing them with great vigour because that is what we want to achieve. All I can do is reassure the noble Lord that a lot has been done, but clearly there is more. If there is more that we can do, we will not be shy in coming forward with further steps.

[Lord Davies of Stamford (Lab)]

My Lords, the noble Baroness said that the gap in this country between tax due and tax paid is narrower than it has ever been. How does she know? How does she, or anyone, calculate the amount of tax that is due but undeclared and unpaid?

[Baroness Stowell of Beeston]

That is something that is an established way of recording. The noble Lord has challenged me, and I feel that I am entering into a zone where I am going to be asked about lots of technical financial matters that I am afraid I am probably not the best person to be able to respond on in detail. If I can provide the noble Lord with further information in writing, I will, but I assure him that this is a statement of fact and, I say to him, one that surely it should be pleasing to hear. We want to ensure that we collect as much tax as we possibly can. If we are collecting more than we have ever done before, that is a good thing.