Oral Answers to Questions

Cheryl Gillan Excerpts

Wednesday 12th June 2013 Commons Chamber

[Justine Greening]

We are very clear that we want companies to behave responsibly across the board, including on tax, and I can assure the hon. Gentleman that there is such due diligence. We cannot simply ignore those problems, and if we are to shape private sector investment in the developing world so that it can help drive development, as I think we should, we will have to engage with the private sector more in the future than we have in the past.

[Mrs Cheryl Gillan (Chesham and Amersham) (Con)]

The Secretary of State will know that the OECD has been charged with coming up with a scheme to tackle base erosion and profit shifting and to consider corporate taxation. Last week in a meeting with the organisation it confirmed to me that it is working to a timetable of just two years. Does she agree with that timetable, or does she agree with me that it is an over optimistic timetable for trying to get a multilateral convention to replace 3,000 tax treaties?

[Justine Greening]

My right hon. Friend is right that the timetable is ambitious and that is why we need to put the political momentum behind it that the G8 meeting can bring. The work that the OECD is doing has been commissioned by the G20 and it shows that if we are to reach a sustainable solution, leading economies and world leaders must come together. That is precisely why we have put the subject on our G8 agenda.