Saturday, May 11, 2013

Osborne: G7 agree to target tax evasion and avoidanc


The G7 group of industrialised nations have agreed that there must be collective action against tax evasion and avoidance, the UK's finance minister has said.
Chancellor George Osborne said after the talks that it was "incredibly important" that firms and individuals paid the tax they owed.
Chancellor George Osborne at a news conference following the G7 meeting
The members agreed on more policy issues than had been assumed, he added.
The G7 comprises the US, Germany, the UK, Japan, Italy, France and Canada.
In a news conference held jointly with Bank of England governor Sir Mervyn King, Mr Osborne said the finance ministers and central bank governors of the G7, meeting in Aylesbury, Buckinghamshire, had also agreed no bank should be "too big to fail".

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