Cam's tax warning
Those who engage in tax avoidance “need to wake up and smell the coffee”, David Cameron has said as he called for an international crackdown on the practice.
Addressing the World Economic Forum in Davos, the Prime Minister said it was a “simple issue of fairness” that all multinational companies and wealthy individuals should pay their fair share.
“Clamp down in one country and the travelling caravan of lawyers, accountants and financial gurus just moves on elsewhere,” he said.
“So we need to act together at the G8. If there are difficult questions about whether existing standards are tough enough to tackle avoidance, we need to ask them.
“If there are options for more multi-lateral deals on automatic information exchange to catch tax evaders, we need to explore them.”
Speaking to Channel 4 News, Treasury minister David Gauke said the Government was working to "strengthen our capability to make sure everybody pays their fair share".