Should the government prosecute people who avoid paying taxes by hiding money in foreign bank accounts?statsdiscuss
Labour’s answer: Yes, and fine them double the amount they avoided payingBecause if the very wealthy person wants to avoid taxation in Britain and therefore put money into a tax haven somewhere, who loses? Schools, hospitals, housing, all those public services lose and the rest of the population have to pay to cover up the deficit created by that.
“And so I think with the Paradise Papers, which I have been reading through like all of us this morning, are quite shocking.Source
Should the government prosecute people who avoid paying taxes by hiding money in foreign bank accounts?statsdiscuss
Conservative’s answer: NoThe London mayor Boris Johnson paid nearly £1 million in tax in four years, a summary of his tax returns show.
The filing, which was published on his Mayoral Register of Interests, showed Mr Johnson earned between £270,000 and £491,000 over four years on top of his £143,911 salary as mayor.
The tax bill over the period totals £916,481 on an total income of £1,985,901.Source
Liberal Democrat’s political stances on tax evasion
Should the government prosecute people who avoid paying taxes by hiding money in foreign bank accounts?statsdiscuss
Liberal Democrat’s answer: Yes, and fine them double the amount they avoided payingResponding to the papers, Liberal Democrat leader and former business secretary Sir Vince Cable accused Mr Cameron of failing to clamp down on off-shore tax havens.Source
Should the government prosecute people who avoid paying taxes by hiding money in foreign bank accounts?statsdiscuss
Green’s answer: Yes, and fine them double the amount they avoided payingThese latest revelations back up earlier details from the Panama Papers which place the UK at the centre of the world’s most extensive global tax haven network. In the UK, more than 75% of investigated corruption cases involving property involve anonymous companies registered in secrecy jurisdictions. And of these, more than three quarters were registered in either the UK’s overseas territories or crown dependencies.Source