MP forces a vote on Osborne's plans to relax tax dodging rules
A Liberal Democrat MP will attempt this week to force another U-turn out of George Osborne's battered budget. The Chancellor is proposing to relax the rules on tax avoidance by British- based multinational companies, which opponents say will deprive developing economies of up to £4bn a year in tax.
The Treasury's Controlled Foreign Company rules are designed to prevent multinationals from avoiding tax by artificially channelling their profits through tax havens. But Mr Osborne has how decided the rules have gone beyond their original purpose. He intends to rewrite them to cover only "the highest risk of artificial diversion of UK profits".
But an amendment by Liberal Democrat MP Stephen Williams, to be voted in the Commons this week, would require him to consult the International Develop- ment department first, to see what effect his planned changes will have on the poorest nations. Melanie Ward at charity ActionAid said of Mr Osborne's plans: "The hypocrisy's staggering."
Stand by for another DECADE of wet summers, say Met Office meteorologists
Bankers could face jail after report urges the Government to introduce new criminal offence for reckless management
Feat of engineering: Incredible photographs show construction beneath New York's Second Avenue
World news in pictures
Google challenges US surveillance gagging order
- 1 Disability campaigners celebrate 'victory' after government rethink over plans to make it more difficult to claim disability benefits
- 2 Bankers could face jail after report urges the Government to introduce new criminal offence for reckless management
- 3 Breaking the Silence: In the reality of occupation, there are no Palestinian civilians – only potential terrorists
- 4 We never knew Nigella Lawson - and we still don’t
- 5 Vice pulls 'breathtakingly tasteless' fashion shoot glorifying the suicides of famous female authors from Sylvia Plath to Virginia Woolf
£600 - £700 per day: Orgtel: Project Manager - Front Office - Regulatory IT C...
£33000 - £35000 Per Annum: The Green Recruitment Company: The Green Recruitmen...
£21000 - £22000 per annum: Randstad Education Chelmsford: NQTs required now fo...
£21000 - £32000 per annum: Randstad Education Chelmsford: September start - Pr...