Simon Kirby
Main Page: Simon Kirby (Conservative - Brighton, Kemptown)Department Debates - View all Simon Kirby's debates with the Cabinet Office
(13 years, 11 months ago)
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The Deputy Prime Minister
As the right hon. Gentleman well knows, the Government inherited a situation in which a 2005 court ruling had shown our current arrangements to be illegal and to fall foul of court rulings. The previous Government looked at the options for moving into line with the court rulings and there have been a succession of court rulings since then, most recently last week. We will provide our final response on how to make sure that our practices are in line with those rulings in the very near future.
Simon Kirby (Brighton, Kemptown) (Con)
T3. What progress have the Government made on ensuring that the banks meet their obligation to pay their fair share of taxes?
The Deputy Prime Minister
A year ago, the previous Government announced that they would require—[Interruption.] It is worth listening to this as a contrast between inaction and action. They announced that they would require the banks to sign up to the code of practice on taxation. Last month, only four of the top 15 banks had signed up, which was in our view completely unacceptable. We want the banks to play not just by the letter of tax law but by its spirit. That is why the Chancellor instructed Her Majesty’s Revenue and Customs in October to work with the banking sector to ensure that the remaining banks implemented the code by the end of this month, and I can today confirm that all the top 15 banks have now signed the code. That is an extra 11 banks in one month versus the four that signed previously. [Interruption.]