Taxation (International and Other Provisions) Bill

Once again, I welcome the helpful remarks made by the hon. Members for South-West Hertfordshire (Mr. Gauke) and for Southport (Dr. Pugh). I was particularly interested in and grateful for what the hon. Member for South-West Hertfordshire said in passing about the discussion document that we have published recently on the reform of controlled foreign company rules. I agree with him about the importance of this key issue for the UK's tax competitiveness and I welcome further discussion with him and others in the House and with the large number of companies and organisations that will be taking a close interest as work on this goes forward with a view to legislating—I hope, in the finance Act next year. I am also grateful to the hon. Member for Southport for his comments about the seriousness of the Government's intent in tackling tax evasion and avoidance. This is an area that he has taken a close and helpful interest in and I am grateful to him for what he said. Over the last year we have made more progress on tax information exchange than was made in the previous 10 years. The interest that he has shown is a helpful addition to making the progress that is needed.