During a short debate on tax havens, Lord Sharkey (Liberal Democrat) was told by Lord Young of Cookham, a government whip, that the Government does not have an estimate of the loss to the Exchequer of profit shifting by UK-based companies.
The Work and Pensions Committee’s inquiry into self-employment and the ‘gig economy’ continued with a session with Matthew Taylor. Taylor is Chief Executive of the of the RSA and leader of the Department of Business, Energy and Industrial Strategy’s independent review on modern employment practices.
The concept of earmarking sources of taxation for particular items of expenditure (hypothecation) finds common appeal both from people who want to see an increase in spending on a particular thing and those who want to cut the amount of tax the public pay.
Work and Pensions Committee continues to call witnesses to discuss self-employment and the gig economy. The Committee took evidence from, among other people, Victoria Todd of the Low Incomes Tax Reform Group (LITRG).