Thursday, 21 September 2017

"Corporate Wild West"

Firm evidence to add my blog post of two days ago ("Uncollected company secrecy fines...") that the UK freed from regulation by the EU intends, under the Conservatives, to remain the corporate wild west.

From 25th April:

The government has agreed to drop key measures to tackle tax avoidance from the Finance Bill following a deal with the opposition.

These include tougher penalties for tax evasion, changes to prevent people avoiding inheritance tax through offshore trusts and the axing of permanent non-dom status.

Liberal Democrat MP and Public Accounts Committee member John Pugh said:

"Many voters will be shocked that measures to crack down on tax avoiders are being quietly dropped.

“It seems promises to crack down on tax avoidance after the Panama Paper leaks were nothing but hot air.

“This makes a mockery of Theresa May’s claim to be delivering for the many not the few.

"Meanwhile Labour is failing in its job to hold this government to account.

“This election is a chance to change the direction of the country and ensure Britain has a proper opposition."

And from the day before:

Britain will have to settle a €4bn bill over failure to tackle customs fraud before a post-Brexit trade deal with the EU can be agreed, The Times has reported.

Commenting, Liberal Democrat MP Alistair Carmichael said:

“This is a major embarrassment for Theresa May.

"Under her watch as Home Secretary, customs fraud was happening on an industrial scale. Now it is British taxpayers who are set to pay the price.

"The cost of the Conservative's divisive hard Brexit is soaring by the day."

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