Shabana Mahmood MP, Labour’s Shadow Exchequer Secretary to the Treasury, responding to David Cameron’s announcement on making public a central registry on beneficial ownership, said:

“We called on David Cameron to act on transparency so this is a welcome step, but he needs to go much further to tackle tax avoidance. This is even more important at a time when families are facing a cost of living crisis and the deficit is high.

“With the amount of uncollected tax rising in the last year to £35 billion, it’s clear this Government is failing. David Cameron needs to explain why he decided not to close down the eurobonds tax loophole and why his Swiss tax deal has raised a fraction of the money promised.

“The Government should also be doing more to open up tax havens and extend the Disclosure of Tax Avoidance Schemes regime, which Labour introduced, to global transactions.“

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