JULIE ELLIOTT: Firms should be forced to disclose their tax affairs

Labour's Don Valley MP Caroline Flint.
Labour's Don Valley MP Caroline Flint.
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Parliament returned this week after summer recess. The break over summer allowed me to attend a whole host of constituency-based events that I am not usually able to go to due to parliamentary business in Westminster.

I particularly value spending time in my home city and having the opportunity to speak to you makes me better-placed to represent your views in Parliament.

David Davis MP made a statement to the House on Monday about Brexit explaining that the Government is determined to deliver it “in the national interest.”

However, we are still none the wiser as to what the Government hope to achieve in the Brexit negotiations.

Although I disagree with the result, I completely respect the outcome of the vote and will do all I can to ensure negotiations result in the best possible deal for our city.

The Leave campaign made many promises to the people of Sunderland, chiefly that we would not lose out in terms of jobs or investment and that billions of pounds would be invested in our NHS. I intend to hold them to that.

I was delighted to see Caroline Flint MP’s amendment to the Finance Bill accepted by the Government on Monday.

I have been supportive of Caroline’s amendment from the beginning as it could force global corporations to disclose where they do business, how much money they make and the amount of tax they pay.

Too many multinational companies seem to be picking and choosing the tax they wish to pay by means of complex international arrangements, as opposed to paying the tax they should.

It is only by making companies become more transparent that the public’s faith in the tax system will be restored.

I believe that everyone should have to pay their fair share of tax, regardless of status.