Panama Papers

Catherine McKinnell Excerpts

Monday 11th April 2016 Commons Chamber

[The Prime Minister]

I am grateful for my hon. Friend’s remarks, and I am sure that my mother will be too. She said that like me, she is developing a thicker skin with every week that goes past. He is right to say that many people want to pass down wealth, assets and help their children in all the ways they can. That is not something we should be ashamed of; it is something that we should actively encourage, because it can help to build the strong society that we want in our country.

[Catherine McKinnell (Newcastle upon Tyne North) (Lab)]

The Prime Minister acknowledged in his statement that under current legislation it is difficult to prosecute companies that assist with tax evasion, and I and many others—including the right hon. and learned Member for Harborough (Sir Edward Garnier)—would add fraud and corruption to that list. The Government promised in their manifesto to extend the new corporate offence to deal with all economic crime, not just tax evasion. Will the Prime Minister commit today to reviewing urgently the current position, and to extend the offence of tax evasion to incorporate fraud and corruption?