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David Gauke said the Government was poised to bring forward legislation which would make deficit reduction legally binding. “Yes, and that’s something we will bring forward shortly. But I have to say, just listening to Chris [Leslie], I ... Continue to article
David Gauke said achieving a budget surplus would make the economy more robust in the face of future economic crises. “Well, because as a country we have got very substantial debts, it is much better to be in a position where we start to... Continue to article
The Commons was left bemused this morning when an appropriate Government minister failed to turn up to the stamp duty debate. Following reforms set out by the Chancellor yesterday, the House was set to discuss the proposals, but confusio... Continue to article
Number 10 has confirmed that Britain will look at "alternatives" to training Libyan cadets in the UK, after five were charged over sex attacks on local residents. The UK has been training the country’s armed forces in a bid to strengthen... Continue to article
The EU could be treating Britain unfairly in its calculation of who pays into the union’s budget, a Treasury minister has said. David Gauke highlighted the fact that the European Court of Auditors, an EU institution that scrutinises the ... Continue to article
Eric Pickles has appointed three commissioners to take over financial control of Tower Hamlets council, after a report criticised its handling of grants and property transfers. Audit firm PWC has published its review of the borough and c... Continue to article
Tower Hamlets Council press release Tower Hamlets Council's response to the publication of the Tower Hamlets PwC report by the Secretary of State for Communities and Local Government. The Mayor of Tower Hamlets Lutfur Rahman said:... Continue to article
COMMONS CHAMBER 11.30am: Treasury questions (topicals at 12.15pm) 12:30pm: Ministerial statement on London Borough of Tower Hamlets Main business Ten minute rule motion: Abortion (Sex-Selection) Bill (Fiona Bruce, Con, Congleton)... Continue to article
Downing Street has hailed today's announcement on tax avoidance, saying it shows the Government takes closing loopholes "incredibly seriously".
The Prime Minister's official spokesman said: "What you've learned today is the Government takes tax avoidance incredibly seriously. We will continue to take tough action."
The Treasury announced this morning it had closed two "aggressive" and "abusive" tax avoidance schemes amounting to £500m at a high-street bank, reported to be Barclays.
Legislation was rushed through to close the loophole, and Treasury Minister David Gauke said this morning that Barclays was "not going to have any benefit" from its £500m tax avoidance scheme, and said he suspected "the bank in question is regretting what it has done".
Mr Gauke has also argued that cutting tax rates for businesses is a "critical" part of the Government's strategy for economic recovery. In an exclusive piece for PoliticsHome, Mr Gauke said that it is right that in a time of "difficult austerity" the Government, HMRC and the Treasury "come under closer scrutiny to ensure that we collect the tax due".
John Whiting, Tax Policy Director at the Chartered institute of Taxation, said today's announcement was aimed at the whole banking sector, rather than just one institution.
Speaking to PoliticsHome, Mr Whiting said:"One indicator is, clearly, that it’s not just one bank, because although there’s talk of saving £500m and the figures go up to £2bn, there is a suggestion that if they didn’t take action lots of others would do it, because these things get around."
He added that the Government had shown it was "trying to get serious to rebuild trust and confidence in the tax system".
Exchequer secretary David Gauke has condemned the "staggering" £42bn lost to the Treasury in tax avoidance, evasion and collection problems in the year to 2008-09. In order to improve efficiency, HMRC is considering scrapping PAYE and deducting tax directly from workers' salaries.
Almost a million of those affected by the problems with PAYE tax will have their debt written off by the treasury. The General Secretary of the PCS Mark Serwotka has written to the Guardian saying staff cuts are partially to blame for the tax errors.
11/12/2014 on The World at One, BBC Radio 4
07/12/2014 on Sunday Politics, BBC 1
11/11/2014 on BBC News
29/09/2014 on Sky News
29/09/2014 on BBC News
19/08/2014 on BBC News
10/07/2014 on Boulton & Co, Sky News
Summaries and transcripts from TV and radio
30 minutes ago on Andrew Marr Show, BBC One
30 minutes ago on Andrew Marr Show, BBC One
36 minutes ago on Andrew Marr Show, BBC One