Ivan Lewis MP, International Development Secretary, responding to the African leaders and high level experts’ report on tax released today in Zambia, said:
“David Cameron made tackling tax avoidance and abuse by tax havens one of his top priorities for this G8. But he is still falling short of delivering proper transparency that will help developing countries collect tax revenue. Today's report reveals that African countries lose an astonishing $50bn to illicit tax flows.
“Labour has repeatedly called on the Government to use the G8 to deliver the very things these African leaders propose – country by country reporting for multinationals, ensuring developing countries benefit from tax information sharing, and proper transparency about who owns companies. We need to do better than secretive lists of who owns companies in the UK and vague promises of action by crown dependencies.
“The Government is also explicitly failing in its objective to lead by example by refusing to review UK tax rules which the evidence shows costs developing countries £4bn in tax revenue each year. Labour has called on the Government time and time again to review these rules and use the window of opportunity presented by the G8 summit to deliver real action to tackle tax avoidance.”