LIBOR (FSA Investigation) Debate

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Department: HM Treasury

LIBOR (FSA Investigation)

Frank Dobson Excerpts
Monday 2nd July 2012

(12 years, 5 months ago)

Commons Chamber
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John Bercow Portrait Mr Speaker
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Order. There is a lot of interest but not much time. I am keen to accommodate as many as possible, but extreme brevity is required. So questions, please, without preamble.

Frank Dobson Portrait Frank Dobson (Holborn and St Pancras) (Lab)
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Would the Chancellor of the Exchequer authorise Her Majesty’s Revenue and Customs to examine the personal taxation position of all the people involved in this scandal, because if they are willing to swindle everybody, the chances are that they are trying to swindle the Revenue?

George Osborne Portrait Mr Osborne
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The Chancellor of the Exchequer, hon. Members will be glad to know, under any Government, cannot direct the Revenue towards any individual. It would be a very sorry state in this country if I could direct the Revenue to the tax affairs of individuals, so I am not proposing to do that. However, as I have said at this Dispatch Box, and as others have said, this Government are introducing a general anti-avoidance rule, we are clamping down on stamp duty evasion and we have increased the resources from the budget we inherited from Labour when it comes to tackling tax evasion, and the Revenue is therefore well resourced to do its work.