Author: admin

The below Parliamentary question was asked by Imran Hussain on 2016-04-08.

To ask the Secretary of State for International Development, what plans her Department has to support Syria’s economy after the end of the current conflict in that country.

Mr Desmond Swayne

Much of our assistance is already laying the groundwork for future reconciliation, stabilisation and reconstruction efforts inside Syria. Regarding the economy, we are already taking a long term approach to foster market stability and economic recovery. This includes the supply of agricultural inputs to farmers to increase production as well as support to small businesses. This has potential to be scaled up once a political transition is reached and depending on the nature of that settlement.

On 26 November 2015, the Prime Minister announced that the UK will commit at least £1 billion to Syria’s reconstruction. We anticipate that reconstruction funds would be allocated against a plan agreed between a new, inclusive Syrian government and the international community. We expect that, over time, this funding will include support for re-building Syria’s shattered economy and infrastructure.

However, we must not underestimate the scale of the challenge of post-conflict reconstruction. Syria has experienced 40 years under an oppressive regime and a brutal civil war. Conflict has reversed Syria into poverty. Consequently, reconstruction will cost hundreds of billions of dollars. That is why we will use our influence as a major shareholder to push the UN and International Financial Institutions and the private sector to bring their planning, resources and expertise to bear.

The below Parliamentary question was asked by Imran Hussain on 2016-04-08.

To ask the Secretary of State for International Development, what assessment she has made of the potential effect of public country-by-country reporting of corporation tax details by multinational companies on the economies of developing countries.

Mr Desmond Swayne

The UK supports efforts to improve tax transparency. We initiated international work on country-by-country (CbC) reporting during our G8 Presidency in 2013, calling on the OECD to develop a framework for CbC reporting to tax authorities as part of the Base Erosion and Profit Shifting (BEPS) project. This important initiative will enhance transparency between business and tax authorities, including those of developing countries.

DFID funds the Global Forum and the World Bank to provide technical assistance to improve exchange of tax information in developing countries which will allow tax authorities to gain access to information such as country-by-country reports. We also support the OECD in helping developing countries tackle multinational practices such as transfer pricing and have provided HMRC tax auditors to Tax Inspectors Without Borders, which puts expert tax auditors in the field working on complex multinational audit cases.

The below Parliamentary question was asked by Imran Hussain on 2016-04-08.

To ask the Secretary of State for International Development, what steps her Department plans to take to ensure that public country-by-country reporting of corporation tax benefits developing countries.

Mr Desmond Swayne

The UK supports efforts to improve tax transparency. We initiated international work on country-by-country (CbC) reporting during our G8 Presidency in 2013, calling on the OECD to develop a framework for CbC reporting to tax authorities as part of the Base Erosion and Profit Shifting (BEPS) project. This important initiative will enhance transparency between business and tax authorities, including those of developing countries.

DFID funds the Global Forum and the World Bank to provide technical assistance to improve exchange of tax information in developing countries which will allow tax authorities to gain access to information such as country-by-country reports. We also support the OECD in helping developing countries tackle multinational practices such as transfer pricing and have provided HMRC tax auditors to Tax Inspectors Without Borders, which puts expert tax auditors in the field working on complex multinational audit cases.

The below Parliamentary question was asked by Imran Hussain on 2016-04-08.

To ask the Secretary of State for International Development, with reference to the Supporting Syria Conference 2016, to whom and by what mechanisms the Government’s funding pledges at that conference will be made.

Mr Desmond Swayne

At the London Conference, the Prime Minister announced that the UK will more than double our total pledge to the Syria crisis from £1.12 billion to over £2.3 billion. The UK has already spent more than £1.1 billion in providing lifesaving aid in Syria and the region.