Cable slams 'systematic' tax abuse
Vince Cable has hit out at the "systematic abuse" of tax laws by some companies, insisting the Government must "get to grips" with the issue.
The Business Secretary said tax avoidance schemes used by large firms were "deeply angering" for the thousands of British companies who "pay their tax properly", and suggested the Chancellor would address the issue in the coming months.
"We’ve got to get to grips with it," he told Sky News. "I’m sure the Chancellor would address this, because there is a lot of public anger which is building up.
"We’ve been through very difficult times. Individuals have seen their standards of living cut. Much of the anger in the past has been directed at the way banking systems operated but we’re now getting evidence of systematic abuse by some companies, and that’s really got to be stopped."
His intervention comes after US-based companies Google, Amazon and Starbucks were criticised by the Commons Public Accounts Committee this week, over their decisions to base their UK operations offshore.