Stephen Phillips – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Stephen Phillips on 2016-05-26.

To ask Mr Chancellor of the Exchequer, what recent estimate he has made of the effect of the Government’s steps to tackle aggressive tax avoidance on the revenues derived from general taxation.

Mr David Gauke

During this Parliament, we have already announced that we will legislate for more than 25 measures to tackle avoidance and evasion, which are forecast to raise £16 billion by 2021.

During the last Parliament, we made over 40 changes to tax law, closing down loopholes and introducing major reforms to the UK tax system. These were forecast to have raised £12 billion by 2016.

During the last Parliament, as a result of actions to tackle tax evasion, tax avoidance, aggressive tax planning and non-compliance, HM Revenue and Customs secured around £100 billion in additional compliance revenue. This includes over £38 billion from big businesses and £1.2 billion extra from the UK’s richest people.