TaxCorporate TaxOsborne accuses Labour over HSBC tax evasion scandal

Osborne accuses Labour over HSBC tax evasion scandal

Tax evasion scandal at HSBC becomes political as George Osborne and Ed Balls trade blows

Osborne accuses Labour over HSBC tax evasion scandal

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.

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