Oral Answers to Questions Debate
Full Debate: Read Full DebateMark Durkan
Main Page: Mark Durkan (Social Democratic & Labour Party - Foyle)Department Debates - View all Mark Durkan's debates with the Department for International Development
(12 years, 5 months ago)
Commons ChamberI know how strongly the hon. Gentleman must feel about this terrible accident, given that three of his constituents have, sadly, lost their lives. I know that the MOD and, I am sure, the Secretary of State would wish to confirm to him personally that they are doing absolutely everything possible in quite difficult circumstances to ensure that the bodies are returned to the families as soon as possible.
Q12. Has the Deputy Prime Minister considered the implications of the Treasury’s planned changes to the controlled foreign companies rules, which will incentivise multinationals having recourse to tax havens? Opening this new tax loophole is estimated to cost developing countries some £4 billion in fair and much-needed revenue and the Exchequer here £1 billion in fair and much-needed revenue. Will this perverse and invidious change be corrected in forthcoming Budget measures?
The hon. Gentleman raises an important issue. I have spoken to campaigners about this matter, and I know that ActionAid, for instance, has spoken to Treasury Ministers as well. Like all international tax matters, it is incredibly complicated once we get into the detail, but it is something that was not dealt with in the past 13 years and which we are now prepared to look into.