It's no surprise that a big focus on this year's General Election has been focused on what will be done to crack down on tax avoidance. Over the past few years there has been a steady uncovering of tax avoiders across the UK.
So what have the leading two parties pledged to do about it?
Labour have announced a Ten Point Plan to tackle tax avoidance. Labour's plans are to cut tax avoidance and evasion by at least £7.5 billion a year. Their manifesto states, "We will carry out an immediate review into the culture and practices of HMRC so that everyone follows the same rules and we increase the rigour of the tax system."
The Conservative Party has pledged to raise at least £5 billion from continuing to tackle tax evasion and aggressive tax avoidance. According to the Institute for Fiscal Studies, that money is what keeps the Tory tax and spending proposals "revenue neutral", meaning they aren't actually giving any money away overall.
Despite these promises from the parties people are still unsure as to whether this will be enough. An interview conducted by ComRes of 1,000 voters found that 84% still thought it was too easy for large companies to avoid paying tax in the UK. Have these parties done enough to convince the public that they are taking the crack down on tax avoidance seriously?
General Election news
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