David posed a question during the debate on Section 5 of the European Communities (Amendment) Act 1993 -
Department for Work and Pensions (Electronic File Retention) Bill on February 10th.
'One of the putative benefits of the EU, if there are any, is that it could take joint action against tax havens. What action are the British Government proposing to take with their EU partners to make sure that everyone is paying the right level of tax?'
Ian Pearson the Economic Secretary, HM Treasury responded ‘The EU has many benefits. I shall not list them, but having a home market of 500 million people is a significant one. Also, the level of the pound against the euro means that UK businesses have strong opportunities to export into the home market of other member states.'
My hon. Friend Mr Drew asked specifically about tax havens, and he will be aware that a lot of work has been going on, in the EU and at G20 level, to ensure greater tax transparency. A number of initiatives have been launched in this area: he is right to highlight the issue, as it has been and will remain on the global, and not just the European, agenda.’