G8

Guy Opperman Excerpts

Wednesday 19th June 2013 Commons Chamber

[The Prime Minister]

I think my hon. Friend would agree that, while low tax rates are good for business and there is nothing wrong with healthy tax competition, when we set a low tax rate we should then say to businesses, “We have a low tax rate; now you must pay the tax.” I believe that the G8 agenda will help us in that regard.

[Guy Opperman (Hexham) (Con)]

People in the north-east will especially welcome the agreement on tax transparency and tax-dodging. Will the Prime Minister say more about the effect that that will have on future Government tax receipts and the war on poverty?

[The Prime Minister]

My hon. Friend is right to ask that question. Dealing more effectively with tax evasion, which is illegal, and with aggressive tax avoidance, which, as I have said many times, raises serious moral issues, while at the same time garnering more revenue, can help us to keep down taxes on hard-working people who do the right thing. That is what should drive our whole agenda. As I said earlier, we have recovered a lot of money from territories and bank accounts, and we should continue to do so.