Tax Havens And Transparency

EDM number 2627 in 2010-12, proposed by John Cryer on 20/01/2012.

That this House notes the OECD and G20's identification of the role of tax havens by wealthy corporations in fuelling the global economic crisis from 2009 onwards; is alarmed by reports that US former Massachusetts Governor Mitt Romnney is also using the Cayman Islands, a British territory, to avoid paying the same tax rate as other US citizens; is concerned about the continued use of tax havens by the top one per cent. in the US and UK to avoid paying the correct tax in their own country, particularly at a time when living standards are being squeezed and services lost for ordinary people in many Western economies; and calls on the Government to introduce urgent legislation to help close tax havens and increase transparency so that the very rich pay their fair share of tax in their respective countries and enable governments worldwide to invest more in jobs and growth.

This motion has been signed by a total of 29 MPs.