Tax Havens - Question

Part of the debate – in the House of Lords at 11:06 am on 6th April 2017.

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Photo of Lord McConnell of Glenscorrodale Lord McConnell of Glenscorrodale Labour 11:06 am, 6th April 2017

My Lords, many of us were willing to give the previous Prime Minister and Chancellor the benefit of the doubt on this issue because they were legislating in the UK and were engaged in international negotiations. However, given that we are now leaving the top table of the European Union, where much of this action could have taken place, would it not be appropriate in the brave new world of new trade agreements and Britain becoming more global for this country to lead the way on this issue by legislating to ensure that all British companies operating around the world report on a country-by-country basis to ensure that countries across the world can tax those companies where they make their profits?