Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions he has had with British Overseas Territories on a minimum global tax rate.

The UK’s Overseas Territories are fiscally autonomous jurisdictions with their own democratically elected governments responsible for their fiscal matters.

Many of them are members of the OECD Inclusive Framework in their own right, which is the official forum for developing the framework of rules for a global minimum corporation tax; Pillar Two of the two-pillar package being developed by the OECD to address the tax challenges of digitisation.

The UK Government’s fundamental responsibility and objective is to ensure the security and good governance of the Territories and their peoples; the Government continues to uphold that responsibility and remains engaged with the Territories on that basis.