Financial Transparency Coalition

Using consistently credible sources the resulting estimate of tax evasion in the European Union is approximately €860 billion a year. As the report notes, estimating tax avoidance, which is the other key component of the tax gap in Europe, is harder. However, an estimate that it might be €150 billion a year is made in this report. In combination it is therefore likely that tax evasion and tax avoidance might cost the governments of the European Union member states €1 trillion a year. These losses can only be accurately located with regard to tax evasion. Italy loses the most...

Precisely so. That “pro-business and anti-greed” line is right. Just as it’s right to say that demanding that all companies meet the regulatory demands imposed upon them is “pro-business and anti-free-riding”.

The Task Force on Financial Integrity and Economic Development, of which Tax Research UK is a member, has welcomed new moves to tackle tax dodging announced by the global body charged with fighting financial crime.

IPPR produced a report on globalisation last week. With a forward by Lord Mandelson the report was written by Will Straw and Alex Glennie. I admit I don’t agree with either Mandelson or Straw; they have a political perspective I don’t always share but this report has merit to it, as others have also noted since its publication. It represents a clear change of heart on Peter Mandelson’s part, and that I welcome.