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IV Drip

G8 summit: Will it tackle tax avoidance?


Top of the agenda for the Cameron, who goes into this week's G8 conference as president, is tax reform. We know that multinationals avoid paying their share. We also know it will be difficult to make them start. Can Cameron change the way that global finance works?

Andrew Rawnsley has his doubts, writing for The Observer:

"There is a suspicion the PM has a lowly ambition limited to squeezing just enough concessions to allow him to write a self-congratulatory communique. That will not be adequate. The international tax system doesn’t require a bit of tinkering. Only radical reform will put an end to this global scandal."

Sky News' Adam Boulton thinks that, when push comes to shove, the G8 nations will reel in any commitment to change:

"G8 leaders all say they want to crack down on tax havens. On the other hand no country wants to give up its competitive advantages. Big decisions on making multinationals pay more tax will be left to the bigger forum of G20."