‘Black economy’ teams recover only £29m

Government teams set up to reduce the ‘black economy’ only produced an extra
£29m last year, the Daily Telegraph reports today.

The 11 regionally based Shadow Economy Teams and the Joint Shadow Economy
Teams resulted in just over 3,300 businesses being brought into the tax-paying
net, generating £26.4m. They also identified 229 ‘ghost” businesses, which
yielded £2.7m, the paper says.

HM Revenue & Customs rejected suggestions that the returns were modest.

A Customs spokesman said: ‘We get a good return on our investment. We recover
£16 for every £1 we spend.’

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