Rebecca Long-Bailey MP, Shadow Chief Secretary to the Treasury, responding to new government measures on tackling tax avoidance, said:

“The Labour Party has consistently called on this Government to take more radical action to tackle aggressive tax planning and avoidance, especially in the wake of the Panama Papers scandal earlier this year.

“Labour’s Tax Transparency and Enforcement Programme will enforce stricter rules on accounting practices and give the courts more power to ignore accounting tricks.

“I am therefore pleased about this announcement of a twelve week consultation into offshore evasion but as ever the devil will be in the detail. 

“Labour is proposing amendments to the Finance Bill coming before the House of Commons in September to tighten up the penalties for both enablers of offshore tax avoidance and tax avoiders themselves.

“In light of this commitment to fight aggressive tax planning I hope the Government will support our amendments to the Bill.”

ENDS