G20

Fiona O'Donnell Excerpts

Monday 9th September 2013 Commons Chamber

[The Prime Minister]

My hon. Friend is absolutely right to say that Britain is alone among G20 countries in meeting its aid promises. I see that as a source of national pride rather than of national embarrassment. We made a promise to the poorest of the world and we have kept it. If we look at the argument in a different way, I would argue that if we care about getting things done in the world that are in Britain’s interests as well as those of the poorest, keeping such a promise and using our aid budget to demonstrate that Britain can get things done is good from that point of view, too.

[Fiona O'Donnell (East Lothian) (Lab)]

All 10 tax havens among the UK’s overseas territories and Crown dependencies committed at the G8 to sign the multilateral convention on mutual and administrative assistance in tax matters. Will the Prime Minister tell the House whether the timetable is in place yet and, if so, how many have signed?

[The Prime Minister]

They all agreed to take the necessary action on tax exchange with the UK, international tax co-operation and beneficial ownership, all of which was set out at the meeting I had with them. I cannot recall the exact timetable off the top of my head, but I will make this point: I do not think it is fair any longer to refer to any of the overseas territories or Crown dependencies as tax havens. They have taken action to make sure that they have fair and open tax systems. It is very important that our focus should now shift to those territories and countries that really are tax havens. The Crown dependencies and overseas territories, which matter so much—quite rightly—to the British people and Members have taken the necessary action and should get the backing for it.