Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of changes in the level of UK corporation tax on tax revenues in (a) developing and (b) other countries.

The Government is committed to a competitive and fair tax system, one that encourages innovation and business investment and taxes the profits of economic activity that occur in the UK.

That is why the UK used its G8 presidency to build support for the OECD Base Erosion and Profit Shifting Project (BEPS), which is about tackling tax avoidance by multinationals through updating the international tax rules, and is delivering many of its recommendations in a package of measures announced at Budget 2016.

The UK has led international efforts to help developing countries tackle evasion and avoidance. Through the G20 we have commissioned the international organisations to develop toolkits to assist developing countries to implement the BEPS outcomes, as well as funding assistance to help developing country tax authorities tackle multinational tax avoidance.