G20 Summit

Caroline Flint Excerpts

Wednesday 7th September 2016 Commons Chamber

[The Prime Minister]

My hon. Friend may just have sealed the deal. I commend and welcome the fact that the Rushden Lakes development is using 100% UK steel—that is very good. We need to look at the issue of overcapacity and over-production, not simply as an individual country, or indeed as the EU, but globally. That was why it was so important that that was on the agenda for the G20 and that the new forum has been set up, with Chinese representation on it.

[Caroline Flint (Don Valley) (Lab)]

I believe in enterprise and wealth creation, but I also believe in fair taxes. The International Monetary Fund and the OECD have both said that if the amount of tax that is owed to developing countries was actually paid, that would greatly dwarf the amount of support they get through international aid. Given the Prime Minister’s statements on tax avoidance, and as we now have public country-by-country reporting enshrined in law, how will she make this issue a priority for the G20?

[The Prime Minister]

In my interventions at the G20 I was able to refer to the important issue of tax avoidance and the work that needs to be undertaken. The G20 has been playing a leading role in addressing the issue and galvanising action on it. A number of initiatives have taken place, including on the whole question of those who, as I have said, try to use different jurisdictions to resist the payment of tax due. Action is being taken and I was able to refer to the need to push that particular initiative forward. There are other initiatives, too, such as providing support to developing countries for collecting tax within their countries—that tax is needed and should be collected. Initiatives such as the Addis tax initiative are also important. We have played a leading role in the G20 on this, and the G20 is now playing an important global role.