Paradise Papers
Debate between Liam Byrne and Mel Stride(7 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Mel Stride
I thank my hon. Friend for her question. As I have pointed out a few times already, we are currently looking at reporting standards. We are also looking at various recommendations coming out of the BEPS regime, some of which were covered in the Finance Bill, to stop flagrant tax avoidance, sometimes on the part of some of the largest corporations in the country. As I mentioned earlier, the Labour party sought to kill that Bill on Third Reading.
Liam Byrne (Birmingham, Hodge Hill) (Lab)
When I asked officials at the Department for International Trade whether tax transparency was required in our trade treaties, they said that this was a novel idea, and it was certainly not included in the text of the Transatlantic Trade and Investment Partnership. It is exactly this kind of secrecy that lets the rich hide billions while the people pay. Will the Minister ensure that we demand and insist on tax transparency in every single trade treaty presented to this House in the future?
Mel Stride
As the right hon. Gentleman will know, we are committed to country-by-country reporting, which we will push forward with multilaterally. As for our future trade treaties, they are for the future and for the Department for International Trade.