David Winnick
Main Page: David Winnick (Labour - Walsall North)Department Debates - View all David Winnick's debates with the HM Treasury
(9 years, 2 months ago)
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Mr Osborne
Yesterday the Chief Secretary referred to a policy that the Treasury has been considering for the purposes of the Budget, involving the penalties that should be paid by those who actively facilitate tax evasion. As I have said, we are considering that policy, but the hon. Gentleman will have to wait for the Budget.
Mr David Winnick (Walsall North) (Lab)
If the position is now so clear and has now been dealt with, why did the former Tory treasurer say only the other week that “everyone” was engaged in tax avoidance? He meant the rich. Is not the situation summed up very well by an American woman, Leona Helmsley, who ran hotels? She said—and it apparently still applies in this country to a large extent—
“We don’t pay taxes. Only the little people pay taxes.”
That illustrates the divide between the vast majority of people in our country and the rich.
Mr Osborne
We have taken steps to deal with precisely the abuses to which the hon. Gentleman has alluded, such as the use of vehicles to avoid paying stamp duty, the creation of partnerships so that hedge funds do not pay the proper amounts, and the fact that foreigners did not pay capital gains tax. Disguised income is another abuse that we have sought to clamp down on—and, by the way, the Labour party voted against our action in that regard. As more abuses come to light and more contrived schemes are discovered, we take action to deal with them, but I have to say that we have had very little support from the Labour party.