Oral Answers to Questions

Debate between Alan Duncan and Denis MacShane

Wednesday 11th July 2012 Commons Chamber

[Mr Denis MacShane (Rotherham) (Lab)]

Can the Minister confirm that there are two banks, mutual funds or tax-dodging offshore companies for every citizen of the Cayman Islands? Will the new White Paper deal with the fact that around the world the overseas territories and dependencies are seen as the tax evader’s paradise network?

[Mr Duncan]

With respect to my ministerial responsibilities, I can assure the right hon. Gentleman that DFID is not providing any financial aid to tax havens. The UK recently signed agreements with the Cayman Islands and the British Virgin Islands Governments, but those agreements set out what we expect of those overseas territories in how they manage their public finances.