PWC – ProfitsWithout Conscience

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The Tax Justice Network blog has its interpretation of the Public Accounts Committee / PWC story up on its blog this morning.

This blog offers a new interpretation of PWC:

Screen Shot 2015-02-06 at 09.21.30And it also offers an explanation:

PWC, which has had close political relations with both the current government and the preceding Labour administrations headed by Tony Blair and Gordon Brown, and with the UK’s Treasury (which is heavily infiltrated by City of London interests), responded aggressively to the Luxembourg Leak revelations, accusing Antoine Deltour of “stealing” information of a commercially confidential nature.

Earlier this week, this blogger met with a senior PWC official who repeated this accusation and absolutely denied that Deltour’s actions served public interest.  The official also stated that the public had no legitimate reason to know what tax deals were being struck between governments and multinational companies, even when those deals involved major multi-year upstream oil & gas and mining contracts.

PWC and other leading accounting firms have for decades been engaging in an organised and calculated way to deprive citizens throughout Europe and other continents of hundreds of billions of tax revenue.  They represent a threat to democracy.  TJN heartily endorses the suggestion by Margaret Hodge MP, chair of the parliamentary PAC, that governments — and the European Commission — should immediately take action to ban PWC from all areas of government procurement.

I agree.