John Bercow
Main Page: John Bercow (Speaker - Buckingham)Department Debates - View all John Bercow's debates with the HM Treasury
(7 years ago)
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Mr Peter Bone (Wellingborough) (Con)
There seems to be an extraordinary misunderstanding on the part of the shadow Chancellor about the difference between avoidance and evading. Evading is wholly illegal; avoidance is normal. People who put their money into an ISA are avoiding tax—that is completely legal. There is a moral issue. If you happen to be a political party that spends £1 million a year on rent in a tax-exempt company, that is what people are upset about. It is not avoidance; it is morally wrong avoidance. Is that not what your party does, sir?
Mr Speaker
Order. My party does not do anything. As people know, I do not have a party. I am just the leader of the good order and fair play party, or I try to be.
Mel Stride
I thank my hon. Friend for his question, which I take to be directed at me, Mr Speaker. It is of course for the Labour party to account for any situation in which its headquarters may or may not be owned by an overseas trust.
Mel Stride
This Government have brought far more property into the scope of taxation than the hon. Gentleman’s party ever did in 13 years in office, so I will not take any lectures on that point from him. [Interruption.]
Mr Speaker
Order. I would not want the hon. Member for Eltham to get uber-excited; I call Mr Clive Efford.
Clive Efford (Eltham) (Lab)
Thank you, Mr Speaker.
The Minister has set out the reasons why the eye-wateringly rich would benefit from a tax haven, but how would my average taxpayer in Eltham benefit from a tax haven and why should they tolerate this in overseas British territories?