Danny Alexander “livid” about tax avoidance

DANNY ALEXANDER said he is “livid” with the tax avoidance activities of energy companies, adding that he would like them to “stop it”.

Appearing on the BBC‘s Andrew Marr Show, the Liberal Democrat chief secretary to the Treasury (pictured) insisted everyone needs to pay their “fair share” after it emerged three energy companies had avoided around £140m through reducing taxable profits by racking up interest in debt from their owners.

There has also been anger that energy companies are able to hold onto sums from customers’ monthly payments over the amount owed or power used, allowing them to earn interest as it sits in their accounts. It is thought as much as £2bn is held in such a way.

“My message to any company that is engaged in aggressive tax avoidance is to stop it,” Alexander said.

“People are rightly livid about companies and individuals avoiding paying the proper amount of tax. I’m livid about that. It’s something which is not acceptable at any time, but particularly at a time when we are going through tough spending choices. Everybody needs to pay their fair share.”