MP welcomes clampdown pledge on 'phantom firms'
MP has this week welcomed an announcement by the government that
it is to clampdown on 'phantom firms'.
Coalition Government has pledged to make public the names of who
actually owns and controls British companies, in a move applauded
by MP Tessa Munt, who has been campaigning for greater transparency
on company ownership for over 18 months.
'Phantom firms' offered secrecy to the world's tax evaders, child
traffickers, corrupt politicians, drug barons and terrorists.
so long, these companies have hidden who really owns and controls
them, paying bribes, moving money from country to country, shielding
their profits and dodging paying their taxes," she says.
here, British 'phantom firms' have been used to break United Nations'
arms bans, using anonymous 'shell' companies as a loophole to
sell weapons and military kit to criminals like Gaddafi in Libya
and Assad in Syria."
countries get an unfair kicking - with losses up to the tune of
£100bn in tax-take every year. It's a scandal that Africa
loses twice as much through tax evasion as it receives in international
will now be harder for criminals, who won't be able to hide their
identities behind sham UK companies and for the corrupt, who will
not be able to fund luxury lifestyles from the billions of pounds
they siphon off in developing countries."
should go to the Prime Minister and Vince Cable, the Secretary
of State for Business, for showing leadership on this issue. Other
countries, including the British tax havens, the US and the EU
now need to follow the UK's example."
Allen, Director of Policy at Christian Aid, added: "This
announcement of a public register of who really owns of UK companies
shows that the Government has genuinely listened to the arguments
about the powerful benefits of transparency."
particular, we're very grateful for the strong support Tessa has
shown in parliament for our campaign to clamp down on tax dodging.
The challenge now will be to ensure that this policy is delivered
effectively and that the poorest people in our world are among
those who feel the benefits one of the charities campaigning for
Tessa Munt with Vince Cable and Christine Allen, Director of Policy
at Christian Aid outside the Department for Business Innovation
and Skils (Courtesy of Christian Aid)