British PM says G8 must focus on tax

DAVOS, Switzerland Thu Jan 24, 2013 4:55am EST

DAVOS, Switzerland Jan 24 (Reuters) - British Prime Minister David Cameron said on Thursday the Group of Eight industrialised countries should focus on countering corporate tax evasion and aggressive tax avoidance.

"I am a low-tax conservative but I'm not a companies-should-pay-no-tax Conservative," Cameron said in a speech at the World Economic Forum in Davos. "Individuals and businesses must pay their fair share."

"Any businesses who think that they can carry on dodging that fair share or that they can keep on selling to the UK and setting up ever-more complex tax arrangements abroad to squeeze their tax bill right down. Well, they need to wake up and smell the coffee because the public who buy from them have had enough," Cameron said.

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