IF response: PM's announcement on tax havens

In reaction to the Prime Minister's announcement on tax havens at today's meeting of G8 representatives at the Open for Growth summit on trade, tax and transparency, Melanie Ward, spokesperson for the Enough For Everyone IF campaign, said:

"David Cameron has today cleared a big obstacle to a clampdown on tax dodging, but a G8 agreement that will help the world's poorest is hanging in the balance.

"The PM's promise to make the global tax system work for the world's poorest is in jeopardy unless the G8 commit to making public and automatically sharing the information poor countries need to collect theirmissing billions.

"The acid test of the PM's efforts will be whether he delivers a G8 deal that clamps down on tax haven secrecy and phantom companies and will help poor countries collect the money they need to end the scandal that sees 1 in 8 people go to bed hungry."

The IF campaign says there are two key issues for the G8:

  • Backing public registries to make phantom companies a thing of the past;
  • A global deal on information exchange.