Categories
Ealing and Northfield National politics

Labour sloganeering on corporate tax avoidance – the Coalition has acted already

The Ealing Labour party seems to be pleased with its candidate’s stance on corporate tax avoidance. This rings a little hollow after 13 years of inactivity by three Blair/Brown governments. In the last budget Chancellor George Osborne introduced a well thought out Diverted Profits Tax, or as the papers dubbed it a “Google tax”. Maybe that is why Rupa Huq didn’t mention Google in her short list of avoiders.

Even the Guardian had to admit:

Few, however, deny his diverted profits tax (DPT) amounts to a pioneering and innovative effort to tackle big multinationals with aggressive corporate structures. The DPT, announced in December, will levy a 25% tax on profits that have been artificially moved outside the UK.

The Diverted Profits Tax should ensure that Vivienne Westwood has less cash to bung at the Greens at the next election.

Too often the Labour party poses and sloganises. This is just one of many areas where the Coalition has acted after Labour’s 13 lazy years in charge.