Tax Avoidance and Evasion

Catherine West Excerpts

Wednesday 13th April 2016 Commons Chamber

[John McDonnell]

That certainly will happen in future.

Even if they were not criminals, many of Mossack Fonseca’s clients, if not all, had the strong intention of evading or avoiding the taxes that would otherwise have been due from them.

[Catherine West (Hornsey and Wood Green) (Lab)]

I thank my hon. Friend for his excellent speech and for bringing this debate to the House. Does he agree that this is a real issue for people in London, particularly in respect of the impact that these shady characters have on our London property market? It is a tragedy that Londoners, who want to remain in London, have to move out because these criminal elements are messing up the international finance system.

[John McDonnell]

That confirms the need for open and public disclosure of beneficiary ownership and beneficiary interests. As my hon. Friend and every London MP knows, speculation on property in this capital city denies many of our constituents a decent roof over their heads.