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Labour blocked measures to stop companies avoiding tax

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Tuesday, 7 November, 2017
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Earlier this year, Labour blocked our measures to stop companies avoiding corporation tax. They forced new rules to stop companies from shifting losses overseas to avoid corporation tax to be dropped from the Finance Bill. These changes would have raised £8.6 billion for the Treasury.

Since 2010, Conservatives in government have secured almost £160 billion through tackling tax evasion and avoidance - vital funds for our world-class public services. See here: https://www.facebook.com/conservatives/videos/10155526201944279/

Meanwhile, earlier this year, Labour blocked our measures to stop companies avoiding corporation tax. They forced new rules to stop companies from shifting losses overseas to avoid corporation tax to be dropped from the Finance Bill. These changes would have raised £8.6 billion for the Treasury. See here: http://www.telegraph.co.uk/news/2017/04/28/labour-accused-hypocrisy-blocking-measures-crackdown-86billion/

There is also the slightly awkward situation that Labour rents its HQ from offshore firm: http://www.dailymail.co.uk/news/article-5056363/Jeremy-Corbyn-great-tax-hypocrite.html - nobody is perfect but some humility is surely better than brazen hypocrisy. 

All the difference in the world between virtue signalling and actually delivering.

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Tim Loughton Former Sussex MP and Prospective Sussex Mayoral Candidate

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