Catherine McKinnell MP, Labour's Shadow Exchequer Secretary to the Treasury, commenting on the government's refusal to support Labour's amendments to the Finance Bill to tackle the impact of tax avoidance on developing countries, said:
“Labour's Disclosure of Tax Avoidance Schemes regime has helped tackle tax avoidance in the UK. It should now be extended to global transactions, which is why we have put forward amendments to do that in Parliament. As the IF campaign has said, it would be an effective way of tackling avoidance in developing countries.
“It’s disappointing that Treasury Ministers have today rejected our calls and they should think again. The Government failed to deliver the substantial changes we needed at the G8, but this is a change that the UK can make without needing international agreement.”