Transfer Pricing Weekly (another of my best read secrets, and behind a paywall) has reported on last weeks PAC conference, saying (amongst other things, of course):

Note, that last comment is their reaction to the comment I made and not something I said. This is completely logical.

And if you want to know how to fund it, Barclays is about to pay £500 million in fines for illicit foreign exchange trading. Why not use that to endow this Office for Tax Responsibility? That should keep it going for some time and put that money to good social use.