When the Budget is announced next week, we will all be asked to make sacrifices in order to deal with our economic problems. At the same time many multinational companies continue to avoid billions in taxes every year.
The Government talks tough about cracking down on tax dodging, but instead of doing that, it is planning on opening a new tax loophole, which will make it easier for multinationals to avoid paying their bills around the world. If the multinational paid their taxes we would all be better off, here and abroad.
The Treasury’s own figures show the UK will lose £1 billion a year under the new loophole.
As for abroad, ActionAid estimates that developing countries could lose £4 billion, money urgently needed to fight poverty. When companies dodge taxes it is ordinary people in the UK, and around the world, who pick up the bill. When these changes are debated in parliament, I’m calling on our MPs to make sure the government urgently rethinks its plans.
Dr Thomas Green, Huntington Road, York.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here