Cameron lashes out against tax evading Multinationals and Corrupt Government officials who in their avarice to accumulate dream wealth in short time help these businesses to successfully evade taxes in their nations of operations where they earn most of their wealth.
In a speech to the World Economic Forum in Davos, David Cameron says Britain will push for global action against “aggressive” tax avoidance during its year-long presidency of the G8 – but maintains he is a “low-tax” Conservative.
Addressing criticism Cameron companies such as Starbucks and Google should pay more tax in the UK, telling the hundreds of top global chief executives and business leaders in the audience that they needed to “wake up and smell the coffee”.
Mr Cameron said: “Any businesses who think that they can carry on dodging that fair share or that they can keep on selling to the UK and setting up evermore complex tax arrangements abroad to squeeze their tax bill right down. Well, they need to wake up and smell the coffee because the public who buy from them have had enough.”
Suggesting his solution to MNC’s basing their operations in small ‘Tax Free Haven Islands’, while effectively doing business evading taxes in other countries, Cameron said, “Acting alone has its limits. Clamp down in one country and the travelling caravan of lawyers, accountants and financial gurus just moves on elsewhere. So we need to act together at the G8,” he said.
“Corrupt government officials in some countries and some corporations run rings around the letter and spirit of the law to rip off hard-working people and plunder their natural resources,” Mr Cameron said. “We can see the results: the government cronies get rich – some beyond their wildest dreams of avarice – while the people stay poor.”