Alex Chalk
Main Page: Alex Chalk (Conservative - Cheltenham)Department Debates - View all Alex Chalk's debates with the HM Treasury
(8 years, 3 months ago)
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Mr Gauke
The principle of taxpayer confidentiality is not new. It has existed for as long as we have had a tax system. If the hon. Gentleman wants to make a case for abandoning it, he ought to consider what the overall consequences would be for the attractiveness of the UK as a place in which to do business. Let me add that, without fully understanding the whereabouts of a company’s assets and activities, no one is in a position to make a judgment about how much tax it should pay. HMRC is able to do that, and HMRC is bringing in more money than ever.
Alex Chalk (Cheltenham) (Con)
I welcome the fact that the Government have raised £130 million, but does my right hon. Friend agree that it should not have had to take five years—and, no doubt, considerable public resources—to prise that money out? Do not multinationals themselves need to change their culture?
Mr Gauke
My hon. Friend has made an important point. The way in which to change the culture of multinational companies—and, indeed, we have already started to see signs of such a change—is to take the action that we have taken in implementing the BEPS recommendations and introducing a diverted profits tax. Those are the achievements of this Government.