Labour's Policy Review: Corporate Tax

Transparency and reform

"The Government has a particular responsibility to make sure that the tax burden doesn’t fall disproportionately on one group of taxpayers or another and that the taxes that are due are actually paid. Keeping the tax system up to date and, where necessary, reshaping it to take account of how international business is organised and run, is a vital part of that process.

There is widespread concern that the government is failing to do that. While good British firms and millions of families are paying their fair share, some firms don’t seem to be. This is not right and needs to change, and to tackle tax avoidance we need action in a number of areas.

We need to look at how the tax system can be reformed to make sure that it works properly in the modern world and for society today and delivers outcomes that are clearly and transparently fair. We also need to reform the rules that allow companies to have a lot of business in Britain but pay little, or no, tax in this country."

Ed Balls MP and Catherine McKinnell MP

Read Corporate Tax: Transparency and reform and let us know what you think in the comments section to the right

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