Shabana Mahmood MP, Labour’s Shadow Exchequer Secretary to the Treasury, responding to the PAC report on tax avoidance, said:

“This report shows once again the total failure of Ministers and HMRC to tackle tax avoidance. It follows figures showing the amount of uncollected tax rose in the latest year and has gone up by £3 billion on George Osborne’s watch. At a time when working people are paying more and the deficit is still high this is unacceptable.

“Labour’s economic plan will close tax loopholes to help raise much-needed revenues for our National Health Service. And our plan to introduce penalties for those caught by the General Anti-Abuse Rule will act as a genuine deterrent against tax avoidance.

“If George Osborne continues to refuse to implement these measures then the next Labour government will.”

ENDS