G8 Summit

Lord Davies of Stamford Excerpts

Wednesday 19th June 2013 Lords Chamber

[Lord Hill of Oareford]

That is an extremely good question. I can tell the right reverend Prelate that the hope, expectation and intention coming out of the G8 is very much that some of this detailed work on tackling tax evasion, aggressive tax avoidance and transparency will be taken forward by the G20 and the OECD. Behind the simple, 10-point declaration that summarised the headline points at the summit is a much longer, more detailed communiqué that sets out the much more detailed steps of the sort to which the right reverend Prelate refers.

[Lord Davies of Stamford]

Does the agreement at the G8 to ban ransom payments to terrorists, which is very welcome, include banning payments to pirates who capture individuals? The noble Lord has probably heard me say several times in the past three years that this problem is of at least equal dimension.