Deemed domicile: review of protection of overseas trusts

Part of Finance Bill – in the House of Commons at 1:30 pm on 31 October 2017.

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Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General 1:30, 31 October 2017

The hon. Gentleman is being extremely generous in giving way. On this very important question, does he not recognise that the tax gap is currently 6%? In 2005, under the previous Labour Government, it was about 8%. If the tax gap was 8% today, we would be bringing in £11.8 billion less in tax, which is the equivalent of the funding for every single police officer in England and Wales. The tax gap really does matter, so I think that the hon. Gentleman should address the questions that are being put to him.