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29 Sep 2011
THE UK's tax deal with Switzerland has been branded a "disgrace" by shadow chief secretary to the Treasury Angela Eagle.
The deal, which will collect a one-off payment from UK taxpayers' accounts held in Switzerland and a further withholding tax, was ethically and morally wrong, Eagle (pictured) said. Individuals who were involved in tax avoidance and their advisors were like the predators and asset strippers mentioned by Labour leader Ed Miliband, she added.
"We have to start making some moral and ethical judgements about things that have been taken for granted for too long," she said.
"There is an enormous industry that has grown up to make tax arbitrage even more profitable than it should be. I think there are issues with ethics and morality and they have been forgotten but people need to look at it anew."
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Briefings
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