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COMMONS CHAMBER 2.30pm: Communities and local government questions (topicals at 3.15pm) Main business General debate on the UK’s 2014 justice and home affairs opt-out decision Draft Domestic Renewable Heat Incentive Scheme Regula... Continue to article
Prime minister David Cameron attends the Nuclear Security Summit in the Netherlands Transport Secretary Patrick McLoughlin delivers a statement on high speed rail in the House of Commons (12.30) Exchequer Secretary to the Treasury Dav... Continue to article
David Gauke said the biggest risk to the record levels of employment was Labour's "fiscal irresponsibility". "Youth unemployment is falling, long term unemployment is falling and employment is up at record levels. So the only what that ... Continue to article
David Gauke said the Government's advertising campaign against tax evasion would remind the small minority of people that attempts to hide money offshore would be unsuccessful. "I think it is always helpful to underline the fact that HMR... Continue to article
David Gauke said the disappointing public sector borrowing figures showed the need to stick for the Government to stick to its economic plan. “I think the point to make is, yes, there is a lot of encouraging signs in terms of the economy... Continue to article
David Gauke said there was no need to be overly concerned about the prospect of deflation. "If you look at the forecast made by the Bank of England or the Office for Budget Responsibility or indeed outside forecasters, no one is particul... Continue to article
COMMONS CHAMBER 9.30am: Culture, media and sport questions (topicals at 10.05am) 10.15am: Women and equalities questions 10.30am: Business statement Main business Immigration Bill: Remaining stages Draft Local Government Fi... Continue to article
David Gauke claimed that Labour's plan to raise the top rate of tax would harm the UK's reputation as a business-friendly country. "I’m struck by what Ed has said, he’s talked about this being about deficit reduction but there’s no big c... Continue to article
David Gauke said Ed Balls’ speech this morning showed Labour returning to their traditional position on the economy and claimed the Shadow Chancellor had failed to make any serious announcements. “I’m afraid it’s much the same – it’s a r... Continue to article
Downing Street has hailed today's announcement on tax avoidance, saying it shows the Government takes closing loopholes "incredibly seriously".
The Prime Minister's official spokesman said: "What you've learned today is the Government takes tax avoidance incredibly seriously. We will continue to take tough action."
The Treasury announced this morning it had closed two "aggressive" and "abusive" tax avoidance schemes amounting to £500m at a high-street bank, reported to be Barclays.
Legislation was rushed through to close the loophole, and Treasury Minister David Gauke said this morning that Barclays was "not going to have any benefit" from its £500m tax avoidance scheme, and said he suspected "the bank in question is regretting what it has done".
Mr Gauke has also argued that cutting tax rates for businesses is a "critical" part of the Government's strategy for economic recovery. In an exclusive piece for PoliticsHome, Mr Gauke said that it is right that in a time of "difficult austerity" the Government, HMRC and the Treasury "come under closer scrutiny to ensure that we collect the tax due".
John Whiting, Tax Policy Director at the Chartered institute of Taxation, said today's announcement was aimed at the whole banking sector, rather than just one institution.
Speaking to PoliticsHome, Mr Whiting said:"One indicator is, clearly, that it’s not just one bank, because although there’s talk of saving £500m and the figures go up to £2bn, there is a suggestion that if they didn’t take action lots of others would do it, because these things get around."
He added that the Government had shown it was "trying to get serious to rebuild trust and confidence in the tax system".
Exchequer secretary David Gauke has condemned the "staggering" £42bn lost to the Treasury in tax avoidance, evasion and collection problems in the year to 2008-09. In order to improve efficiency, HMRC is considering scrapping PAYE and deducting tax directly from workers' salaries.
Almost a million of those affected by the problems with PAYE tax will have their debt written off by the treasury. The General Secretary of the PCS Mark Serwotka has written to the Guardian saying staff cuts are partially to blame for the tax errors.
16/04/2014 on Channel 4 News
15/04/2014 on BBC News
10/03/2014 on Sky News
24/02/2014 on BBC News
21/02/2014 on BBC News
18/02/2014 on BBC News
27/01/2014 on Jeremy Vine, BBC Radio 2
Summaries and transcripts from TV and radio
4 hours ago on Today, BBC Radio 4
4 hours ago on Today, BBC Radio 4
22/04/2014 on Sky News
34 minutes ago