THE WRONGDOING that occurred during the tax evasion scandal dogging HSBC is Labour’s to apologise for, according to the chancellor.
Labour relinquished power in 2010, and as such the wrongdoing that took place, and HMRC’s receipt of the leaked data took place under them, not the Conservatives, George Osborne said.
He added, too, that former bank chairman Lord Green held a key advisory job under Gordon Brown.
If follows Labour’s accusations against Osborne for granting Lord Green a ministerial post and failing to act on the data leaked by whistleblower Hervé Falciani, who stole the data from the bank’s Geneva office and attempted to contact HMRC by e-mail in 2008.
In an urgent question to parliament, shadow chancellor Ed Balls said Osborne had been “sweeping these issues under the carpet”.
But Osborne attempted to turn the scandal round on Labour and argued “every single alleged offence happened when Labour was in government”, before calling on Balls to “express some humility and contrition” over the issue.
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
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Top 50+50: Demand for tax advisory services remains high, but fee pressure is expected in relation to compliance services
The demand for tax advisory services remains high and this looks to continue; but fee pressure is expected in relation to compliance services as the “Making Tax Digital” initiative is rolled out,