Almost 100 constituents contacted me regarding the so called 'carried interest loophole' and the related Mayfair Tax Loophole campaign.
I voted for the amendment and we succeeded in forcing the Government to accept it on the Statute Book. Additionally, I am on the Treasury Select Committee and we are currently undertaking an inquiry into what further steps are needed to tackle tax avoidance effectively.
Furthermore, although it contains some measures that I support, the Bill as a whole has unfairness at its core, does nothing to address the underlying problems in the economy and fails to properly tackle tax avoidance and evasion.
I oppose the proposed cuts to Capital Gains Tax and Corporation Tax in the Bill. I believe that if the Government can fund tax cuts benefiting the very wealthiest in our society, money can be found for vital public services.
I fundamentally believe there should be an overarching strategy to tackle the tax avoidance industry. At a time when our public services are under pressure as a result of increased demand and a lack of resources it is not acceptable for people to be allowed to avoid paying their taxes.