Caroline Lucas urges Government to promote tax transparency and support the Fair Tax Mark scheme

 

Caroline Lucas, MP for Brighton Pavilion, secured a debate today in the House of Commons where she urged the Government to do more to tackle corporate tax dodging and support firms who have been awarded the Fair Tax Mark.

Current estimates suggest that whilst the public sector budget is being slashed, corporate tax evasion in the UK could be running as high as £70 billion every year.

The Fair Tax Mark is a new initiative which is designed to show that a company is making a genuine effort to be open and transparent about its tax affairs and pays the right amount of corporation tax at the right time and in the right place.

Caroline Lucas, MP for Brighton Pavilion said: “The Government is losing more than £1 in every £10 it tries to collect from companies to tax evasion and avoidance. The Government should recognise and reward firms that are paying their fair share of tax.

“The Fair Tax Mark provides a clear and simple way of showing that a firm is paying its fair share of tax in the UK.

“The accreditation of the Fair Tax Mark pioneer companies comes at a time when recent polling from the Institute for Business Ethics has found that corporate tax dodging is now the number one concern of the public when it comes to business conduct.

“The Fair Tax Mark provides consumers with confidence that companies are playing fair on tax and will helps create a level playing field for all businesses so that all pay their fair share.”  

Notes to editors

1   On the 26 February 2014, Caroline Lucas MP was the primary sponsor of an Early Day Motion on the Fair Tax Mark which is at: http://www.parliament.uk/edm/2013-14/1123

2   Caroline sponsored the Tax and Financial Transparency Bill which is at: http://services.parliament.uk/bills/2010-12/taxandfinancialtransparency.html. This bill asked the Secretary of State to take steps to require banks, corporations and trusts to provide information on their status, income arising and tax payments made in each jurisdiction in which they operate.

 

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