Tom Watson MP, Labour’s Shadow Cabinet Office Minister, today (Wednesday) called on David Cameron to take immediate action to tackle corruption and tax-evasion ahead of the anti-corruption summit in London on Thursday. He said : 

“Corruption can take root whenever self-interest and opportunity meet but it requires secrecy in order to flourish. The Panama papers showed there are too many hiding places for money made illegally or dishonestly. 

“The Prime Minister needs to take a strong lead at Thursday’s summit by securing an agreement from world leaders to grant urgent financial aid to tax regimes in counties where they are desperately under-resourced and under-funded. 

“He must also recognise that the UK has a responsibility to help its overseas territories end their dependency on the financial services industry. 

“David Cameron has said he won’t call on UK territories to publish a register of beneficial ownership despite earlier promises to do so. He needs to change his mind and fulfil those promises because tax avoidance will continue to thrive until the mask of anonymity that allows the owners of assets to disguise their identities has been removed.”