Labour announces bold plan to crack down on tax avoidance

Labour’s detailed plan to crack down on tax evasion and avoidance is welcome.

The public is fed up of endless stories about big companies or wealthy individuals paying so little in tax. Reducing tax avoidance by multinational companies is hard. Labour is taking the right approach by reforming the way in which global companies are taxed in the first place.

Labour’s Fair Tax Programme includes many of 33 policies in Tax Justice UK’s Manifesto for Tax Equality including:

• Simplifying the taxation of multinational companies by adopting a unitary approach to curb opportunities for tax avoidance.
• Increasing the resources available to HMRC and carrying out more targeted audits.
• Greater transparency over the owners of trusts and companies.

All main parties are now making promises to crack down on tax avoidance, but as always the proof will be in the pudding. We will be holding politicians of all parties to account to ensure they deliver on their promises.