UK Government makes all the right noises on trade, tax and transparency

“As we free up the world economy, we must make sure openness delivers the benefits it should for rich economies and developing countries alike. That means consistent and fair rules for the global economy. When countries open up to cross-border trade, and global supply chains, they need to know that they will see the benefits in jobs, fair tax revenues and economic growth.

So we need global rules that prevent tax evasion and aggressive avoidance, and enable governments to collect the taxes they are owed. We also need to make sure that mineral wealth in developing countries becomes a blessing, not a curse. It is to the shame of the whole world that a lack of transparency allowed the illicit diamond trade to fuel appalling conflicts in Sierra Leone and Liberia.

Today, we have a duty to make sure that resource wealth does not fuel conflict, corruption and crime. So at the G-8 next month in Northern Ireland I will push for fairer taxes and greater transparency alongside more open trade.”

Read in full: The UK's G8 agenda - Increasing trade, fairer taxes and greater transparency

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