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Question 3 – What priority would you give legislation to stop corporate tax dodging? #WNEhustings

Question 3 from the Wolverhampton North East Hustings at St Thomas Church on 23rd April, 2015.

Roger Boole (sp?) asks: What priority would you give legislation to stop corporate tax dodging and what is one thing that could be done?

1. Star Etheridge – UKIP

UKIP would stop all tax loopholes, simplify the system to remove loopholes and everyone would pay the appropriate amount. Closing loopholes leads to stopping avoidance and simplifying taxation is the key. UKIP would also stop tax lawyers advising Govt on tax policy at the benefit of their clients.

 

2. Emma Reynolds – Labour

Labour will make this a day 1 priority, put forward a finance bill with a 10 point plan; two of which include; reviewing culture & practice of HMRC who seem tougher on small biz compared to big biz like HSBC – the approach is wrong.

Labour will abolish non dom status, many other countries don’t have this. Labour will also clamp down on tax havens in terms of overseas territories and make sure that hedge funds pay their fair share of tax.

 

3. Darren Henry – Conservatives 

Cons will focus on stopping tax avoidance. The PM has pledged to find £5 billion from aggressively addressing tax avoidance to spend on services, this is a big priority to fund other things.

 

4. Ian Jenkins – Lib Dems

Coalition Govt has invested in extra tax inspectors who have bought in £60 billion income, Lib Dems will clamp down on foreign tax havens. As individuals people can take action by boycotting tax evading brands and claims that Vivienne Westwood is a tax dodger and biggest contributor to the  Green party.

 

5. Becky Cooper – Green

Tax avoid is a big reason Becky got into politics, she doesn’t feel current system is fair to lower earners and a millionaire’s tax will be bought in by Greens. £120 billion lost in tax avoided, more than the deficit. HMRC staff have been reduced from 93K to 52K over 10 years. Becky says the Greens will introduce a tax dodging bill before next parliament. She  also adds that Greens have refused funding from those not paying tax in the UK.

She states that 0.3% tax paid by names such as Google, Amazon, FB and this must end as when individual it’s tax evasion but when it’s big biz it’s not.

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