PM: G8 Summit must tackle Tax Avoidance

PM: G8 Summit 'Must Tackle Tax Avoidance'


David Cameron tells G8 leaders they must make "bold steps" to clamp down on tax avoidance when they meet in Northern Ireland.


3:45am UK, Wednesday 02 January 2013

Several large companies were accused of tax avoidance last year

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  David Cameron has told fellow G8 leaders they must work together at the forthcoming summit to tackle tax avoidance.
  
  The Prime Minister, in a letter marking the start of the UK's presidency of the group, said tackling the issue would be at the heart of the summit's agenda.
  
  The letter follows mounting concern about the tax policies of big international firms in the UK.
  
  In November, Amazon, alongside Google and Starbucks, came under fire from MPs when they appeared before the Commons' Public Accounts Committee.
  
  The summit will see US President Barack Obama, Russian President Vladimir Putin, German Chancellor Angela Merkel and other world leaders gather for two days at the Lough Erne golf resort in Co Fermanagh, Northern Ireland.
  
  It will be the first time the annual summit has been held in the UK since Gleneagles in Scotland in 2005.
  
  In his letter, Mr Cameron said the world continued to face "grave economic uncertainty" in 2013 and that the top priority would remain each country's own domestic challenges.
  
  But he added: "As leaders of eight countries making up around half of the world's entire GDP, the ambitious standards we set and the bold steps we take by working together through the G8 can make a tangible difference by firing up economies and driving prosperity, not just in our own countries, but all over the world.
  
  "I hope that at Lough Erne we can seize this opportunity.
  
  "At the heart of my agenda for the Summit are three issues - advancing trade, ensuring tax compliance and promoting greater transparency."
  
  Shadow Treasury minister Catherine McKinnell said: "Promoting growth and jobs, alongside tackling tax avoidance, must be at the top of the G8's agenda this year.
  
  "But David Cameron cannot offer the leadership and change we need while he sticks to his failing economic policies at home."
  
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UUM, what has Cameron done to close the loopholes tax avoidance schemes currently operate???? Taking a chance aren't they with the "troubles" in Northern Ireland surfacing again . Note where they are staying is a GOLF resort.!!!!