From the FT:
Alistair Darling will announce plans in next week's Budget for a new blacklist of British citizens and businesses who have evaded significant sums of tax as a deterrent to others.
The chancellor believes the public list, which will include anyone who has illegally escaped paying more than £25,000 of tax, will serve to limit the amount of evasion that takes place in the UK.
Yes! Yes! Yes, please.
Make clear how anti-social this criminals are.
And then follow it up by publishing HMRC’s risk assessment on all the companies in the Large Business Service – each of which is given a ranking of low, medium and high.
I can think of no more useful risk assessment tool for investment managers today. No greater lever to apply to those who refuse to act with corporate responsibility. No better way of structuring a risk averse portfolio, which mot people want.
We have to make tax abuse uneconomic. It’s this sort of thing that will help do that.