Panama Papers Debate

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Department: Cabinet Office

Panama Papers

David Nuttall Excerpts
Monday 11th April 2016

(8 years, 1 month ago)

Commons Chamber
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David Nuttall Portrait Mr David Nuttall (Bury North) (Con)
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Does my right hon. Friend agree that any course of action designed to reduce tax that does not constitute tax evasion must, by definition, be legal, even if some may regard it as aggressive tax avoidance? It is up to this Parliament to legislate to make such courses of action illegal.

Lord Cameron of Chipping Norton Portrait The Prime Minister
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My hon. Friend is absolutely right. Where there is aggressive avoidance taking place that is clearly against the spirit of the law, Parliament should act. As I have said many times, that is what the Chancellor has done, and that is what HMRC advises us about. I think that sometimes there are occasions when the tax avoidance is so aggressive that it is right to warn those taking part in it that legislation will follow, and therefore they should not take part in the scheme in the first place. That often happens.