The following amendment to the Finance Bill was put to the House of Commons yesterday:
The amendment would have put the country-by-country reporting of the UK's largest multinational corporations on public record.
As you can see the vote was very close indeed. But the government opposed the transparency that would have ensured those largest companies using tax havens would be exposed for what they do.
I thank Caroline Flint and those from across almost all parties - the Conservatives included - who did support this amendment that would have delivered something this country so badly needs,
Some day we will get it.
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Such a shame Richard. Please keep fighting the good fight.
I bet it had the lobbyists out in force, though, and sweating at the closeness of the vote. The next time, perhaps.
If the amendment had passed, would it have delivered any tax data?
Country-by-country reporting delivers data on
Sales to third parties
Sales to other group companies
Profit before tax
Tax provided
Tax paid
Employee numbers
Net investment
all by country
In a nut shell Why do MP’s oppose country by country reporting?
Because country-by-country reporting would prevent tax haven abuse and expose monopoly profit making
Does this not say Everything we need to know about some MP’s that they will vote down such a noble motion as country by country reporting.
Very disappointing but well done Richard, the wall is cracking. This only makes the Labour rift even more depressing. How was this not infinitely more important than a coup against Corbyn? Caroline Flint being the originator rather undermines the argument that Corbyn’s detractors are all self serving careerists but I am still disgusted by the actions of the PLP. I can only imagine how much more could have been achieved if they had chosen to truly support the leader instead of all the petty stupidity they have resorted to. Still, the fight continues.
Thanks