MP, Labour’s Shadow
Chancellor, responding to news that Shell
paid no corporation tax in the UK in 2018, said:
“As we face the existential threat of a climate emergency
it is a disgrace that the Tories have let some of the worst
polluters benefit from tax giveaways at the expense of all of
us.
“The Tories have been shamefully weak on multinational
tax-dodging, enabling some of the biggest and richest global
companies to deprive our public services of funding.
“We need a government that is serious about holding big
polluters to account, and getting multinationals to pay their
fair share – and Labour will fight, alongside the British people,
for accountability and a fairer tax system.”
Ends
Notes to Editors:
· The FT
has reported that Shell generated $731m pre-tax profits in the UK
on total revenues of $108bn, as well as tax refunds totalling
$115m: https://www.ft.com/content/933fe2b8-20ee-11ea-92da-f0c92e957a96.
The FT also notes that “more than 40 per cent of the UK pre-tax
profits were attributable to overseas joint ventures where taxes
were paid in another jurisdiction.”
· Labour’s
2019 manifesto contained plans to delist companies not
contributing to the climate and environmental emergency, and
plans for unitary taxation of multinationals: see https://labour.org.uk/wp-content/uploads/2019/11/Real-Change-Labour-Manifesto-2019.pdf and https://labour.org.uk/wp-content/uploads/2019/11/Funding-Real-Change.pdf.
