I am glad that Starbucks has finally given in to public outrage and agreed to pay a fairer share tax in the UK. Other companies should follow suit. Over 12,000 people have joined my campaign for fairer taxes which called on a boycott until Starbucks took responsibility for its tax affairs.
I look forward to seeing the detail of the proposal but welcome this first step. Reports of £10m are better than the zero pounds they paid for the last three years, but let’s be clear – companies must pay their fair share of tax, not however much they feel like.
The Coalition Government is taking a tough approach, investing heavily in clamping down on tax avoidance. For every £1 we spend on tackling avoidance we will get £7 back.
Our message is clear: everyone, no matter how wealthy the company or individual, must play by the rules and pay their fair share. Those who don’t will not get away with.
Written by Stephen Williams MP, Co-Chair of the Liberal Democrat Treasury Parliamentary Policy Committee