Westminster Hall Debate on Public CbC Reporting

Archive for November, 2017

Westminster Hall Debate on Public CbC Reporting

Wednesday, November 22nd, 2017

I’ve just finished speaking in a Westminster Hall debate in Parliament on public country-by-country reporting.

Public country-by-country reporting is the publication of a defined set of facts and figures by large multi-national companies that provide the public with a clear picture of the taxes corporations pay. By having public country-by-country reporting, it makes it possible to gauge whether a multi-national company has paid appropriate levels of tax in the countries they have business in.

The recent revelations about Apple and Nike’s tax arrangements in the Paradise Papers outline once again the urgent need for the Government to act.

This measure is popular with the public, with polling showing 78% of people think that multinational companies headquartered in the UK should be required to publish information about the size of their profits, where they were made and what taxes they paid in each country where they operate.

A recent survey of FTSE100 companies also suggests that a large majority (83%) of these companies would not strongly oppose the introduction of a legal requirement for them to make their country-by-country reports public, while a number of them would actively support it.

An amendment to the last year’s Finance Bill by Caroline Flint MP means that the Government now have the power to require large companies to implement public country-by-country reporting. It’s time for the Government to get on and do it.

You can watch my speech here.

 

APPG on Responsible Tax – Letter to the Prime Minister

Monday, November 20th, 2017

Yesterday I wrote a letter to the Prime Minister, along with 12 cross-party colleagues from the APPG on Responsible Tax, calling on the Government to use this Budget to take action against aggressive tax avoidance by enforcing a deadline for Overseas Territories on public registers of beneficial ownership.

Public registers are the only way by which we can ensure that we know who owns what and where. Having Public Registers would allow regulatory authorities to crack down on the wrongdoing that inevitably results from secrecy.

The shocking revelations of the Paradise Papers shows us on ce again how the UK’s Overseas Territories and Crown Dependencies are central to mass tax avoidance by individuals and global corporations.

Britain should lead the way in the world on tax avoidance, tax evasion and financial crime and the solution is greater transparency through implementing these Public Registers.

You can read our letter to the Prime Minister below:

My statement on Barking Police Station

Wednesday, November 1st, 2017

This morning, the Mayor’s Office for Policing and Crime announced  its ‘Public Access Strategy’ with the news that Dagenham Police Station will stay open.

I know many of you will be pleased by this announcement but it comes with a major caveat – as a consequence we may lose our police station at the Barking Learning Centre.

This proposal is completely outrageous and totally unacceptable. By deciding to keep the Dagenham station open and then consulting on closing the Barking Town centre presence the Metropolitan Police are simply robbing Peter to pay Paul.

Sadly it’s a pyrrhic victory for Dagenham at the expense of no service for Barking.

This is not on. It is not fair and it won’t help the fight against crime.

The crime statistics show that crime is concentrated in the South of the Borough, in Abbey and Thames Ward.

As many of you know, it takes up to half an hour to drive to East Dagenham to report a crime from these parts of the borough  – and many of our residents are elderly, vulnerable and do not have a car.

The police are supposed to provide a service for people who pay for it through their taxes and their council taxes.

As I have told the press this morning, issuing an eviction order on our Barking Town Centre Police Station may serve the police interest but it doesn’t serve the public interest.

I am calling on the Metropolitan Police to think again and for Barking and Dagenham Council to withdraw their offer to fund and house the police in a redeveloped facility in East Dagenham until the Police agree an acceptable service for all the people in Barking and Dagenham.