Tax Avoidance (HSBC)

Part of Oral Answers to Questions — Home Department – in the House of Commons at 3:34 pm on 9th February 2015.

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Photo of David Gauke David Gauke The Financial Secretary to the Treasury 3:34 pm, 9th February 2015

My hon. Friend makes an important point. One element of this is that we have to look at the regulation of banks, and there were clearly weaknesses in the system that we inherited. Just as we have addressed weaknesses in the way that tax was collected, we have addressed weaknesses in the way that banks were regulated.