Multinational Companies: Company Accounts
Catherine McKinnell (Newcastle upon Tyne North, Labour)
To ask the Chancellor of the Exchequer what recent discussions he has had with the Secretary of State for International Development on the introduction of country-by-country reporting of financial information by UK-based multinational corporations.
David Gauke (Exchequer Secretary, HM Treasury; South West Hertfordshire, Conservative)
The issue of country-by-country reporting has been extensively discussed with representatives from both civil society and industry in the context of the proposed EU accounting directive. The Government believes the best way to make progress in this area, is to support the EU proposals to improve transparency in the extractives (gas, oil and mining) and forestry sectors.