Margaret Curran
Main Page: Margaret Curran (Labour - Glasgow East)Department Debates - View all Margaret Curran's debates with the Department for Education
(13 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Vince Cable
The regulations that related to my Department were either European or related to the implementation of the minimum wage. I know the Opposition are showing considerable political versatility at the moment, but I did not think that they had got around to demanding the abolition of the minimum wage.
Margaret Curran (Glasgow East) (Lab)
12. What discussions he has had with his international counterparts on steps to increase transparency in the reporting of company profits.
The Parliamentary Under-Secretary of State for Business, Innovation and Skills (Mr Edward Davey)
I, personally, have not had any recent discussions with my international counterparts on the matter, but the Government are committed to greater transparency through corporate reporting. Internationally, the Treasury is leading the Government’s efforts with the Organisation for Economic Co-operation and Development’s task force on tax and development, which is exploring the issues of country-by-country reporting on tax and profits.
Margaret Curran
In the light of his answer, the Minister will be aware of the OECD’s recognition that poor countries lose more money each year to corporate tax-dodging than they receive in aid, and Christian Aid estimates that to amount to $160 billion. May I ask him to have a conversation with the Secretary of State? The right hon. Gentleman said in opposition:
“New accounting standards are needed to force multinational companies to declare publicly the profits they make and the taxes they pay in every country in which they operate. That way anomalies will be quickly spotted.”
Can I reasonably assume that, in the light of his commitment to the issue, the Government will raise it at the G20 in November?
Mr Davey
I think that the Government—both my right hon. Friend the Secretary of State and the Chancellor—actually have a very good record on the issue. We are contributing to the OECD taskforce, because it is about ensuring not just that UK companies report their profits as they need to, but that we improve corporate performance throughout the world.