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Part of the debate – in the House of Commons at 12:43 pm on 19 June 2013.

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Photo of David Cameron David Cameron The Prime Minister, Leader of the Conservative Party 12:43, 19 June 2013

The key point in the Lough Erne declaration is that we should stop companies trying to artificially shift profits from one jurisdiction to another. I believe in fair tax competition. I am a low-tax Conservative: I think it is right to have low tax and then to ask companies to pay that tax. I think what is unacceptable is when processes and procedures are gone into not to shift the activity—that is a company’s right—but to shift where companies are trying to take the profits. That is the point.