Today Huw took part in the House of Commons debate on the Paradise Papers. You can watch Huw speak here: https://goo.gl/hRBLhZ and read below:
Does the Minister agree that this is not just a question of countries such as the Caymans, Bermuda and other territories, but of countries in the European Union such as the Republic of Ireland and the Netherlands, which are regarded as jurisdictions where tax advantages may be set up? Does he also agree that rather than singling out such jurisdictions, we should recognise that in a global environment in which capital is free to move around, the important factor is the effect of the UK tax structure on wealth—something that this Government have definitely got right?
Mel Stride:
My hon. Friend raises a very important point. To put it simply, it is not just the tax rate in a particular regime that is pertinent to the issues we are discussing—he mentioned the Republic of Ireland, where the rate is just 12.5%—but the other factors we need to look at in coming to such judgments.