Shabana Mahmood MP, Labour’s Shadow Exchequer Secretary to the Treasury, commenting on the Government’s record on tax avoidance following a TUC report on the General Anti-Abuse Rule (GAAR), said:

“David Cameron’s Government is failing to tackle tax avoidance and evasion.

“The GAAR is weak and ineffective, the amount of uncollected tax rose last year and Ministers decided not to close the eurobonds tax loophole. At a time when families are facing a cost-of-living crisis and the deficit is high, this isn’t good enough.

“And people will take with a huge pinch of salt whatever George Osborne promises this week. In his Autumn Statement last year he said he would raise £3.1 billion in avoided tax from his deal with Switzerland. But his deal has more holes than Swiss cheese and has so far raised just a quarter of the revenue he promised.”