Paradise Papers

Part of the debate – in the House of Commons at 3:39 pm on 6th November 2017.

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Photo of Peter Bone Peter Bone Conservative, Wellingborough 3:39 pm, 6th November 2017

There seems to be an extraordinary misunderstanding on the part of the shadow Chancellor about the difference between avoidance and evading. Evading is wholly illegal; avoidance is normal. People who put their money into an ISA are avoiding tax—that is completely legal. There is a moral issue. If you happen to be a political party that spends £1 million a year on rent in a tax-exempt company, that is what people are upset about. It is not avoidance; it is morally wrong avoidance. Is that not what your party does, sir?