Reuters - Video

EDITION: U.S. | U.K. | IN

Barack Obama

British PM warns companies to pay fair taxes

Thursday, Jan 24, 2013 - 01:20

Jan. 24 - Britain will use its year-long presidency of the G8 group of rich nations to push for global action against tax evasion and ''aggressive'' tax avoidance by wealthy individuals and businesses, Prime Minister David Cameron told an audience in Davos. (ROUGH CUT ONLY - NO REPORTER NARRATION)

▲ Hide Transcript

View Transcript

(ROUGH CUT ONLY - NO REPORTER NARRATION) Britain will use its year-long presidency of the G8 group of rich nations to push for global action against tax evasion and "aggressive" tax avoidance by wealthy individuals and businesses, Prime Minister David Cameron said today. In a speech to the World Economic Forum in Davos, Switzerland, Mr Cameron said abuse of tax systems was "an issue whose time has come" and that he wanted to make sure individuals and companies "pay their fair share". In an apparent swipe at cafe chain Starbucks, whose failure to pay corporation tax in the UK over three years sparked widespread outrage, Mr Cameron said that it was time for businesses to "wake up and smell the coffee" about public anger at tax-avoidance practices which in some cases raised ethical issues. Speaking to an audience of world leaders, business figures and non-governmental organisations (NGOs) in the Swiss ski resort, Mr Cameron also said he hoped the UK's G8 presidency in 2013 would "put turbo-boosters" under the issue of transparency in developing world economies. Greater openness about who owns companies and land and the movement of assets and money has "staggering" potential in the fight against poverty, by ensuring a country's resources benefit its people and not just a super-rich elite, he said. Announcing his plans for the G8 to "drive a more serious debate on tax evasion and avoidance", Mr Cameron said: "This is an issue whose time has come. After years of abuse, people across the planet are calling for more action and most importantly, there is gathering political will to actually do something about it. (SOUNDBITE) (English) BRITISH PRIME MINISTER DAVID CAMERON, SAYING: "I believe in low taxes, that is why my government is cutting the top rate of income tax, we've cut corporation tax. I am a low-tax Conservative, but I am not a companies-should-pay-no-tax Conservative. Individuals and companies must pay their fair share. Any businesses who think 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 bills right down will need to wake up and smell the coffee because the public who buy from them have had enough." (SOUNDBITE) (English) BRITISH PRIME MINISTER DAVID CAMERON, SAYING: "I know that some people might be thinking - he's talking about cracking down on tax avoidance, talking about making companies more transparent, doesn't this sound like an anti-business, bash-the-rich, tax success agenda? Absolutely not, this is a resolutely pro-business agenda. I'm about the most pro-business leader you can find, I yield to no one in my enthusiasm for capitalism. It is an economic system that has generated more wealth, unleashed more human potential and reduced more grinding poverty than any other in history."

British PM warns companies to pay fair taxes

Thursday, Jan 24, 2013 - 01:20

Top News »

Money »

Finding meaning in the S&P 500 2000 mark Finding meaning in the S&P 500 2000 mark

Mon, Aug 25, 2014 - (2:35)

S&P falls back from record high S&P falls back from record high

Fri, Aug 22, 2014 - (1:35)

S&P 500 closes at new high S&P 500 closes at new high

Thu, Aug 21, 2014 - (1:24)

S&P 500 just shy of record S&P 500 just shy of record

Wed, Aug 20, 2014 - (2:23)

Apple hits $100 a share Apple hits $100 a share

Tue, Aug 19, 2014 - (2:06)

Nasdaq closes at 14-year high Nasdaq closes at 14-year high

Mon, Aug 18, 2014 - (2:23)

Putin puts Wall Street in buying mood Putin puts Wall Street in buying mood

Thu, Aug 14, 2014 - (2:10)

We've become a promotional culture-RetailMeNot's Bodge We've become a promotional...

Thu, Aug 14, 2014 - (4:39)

Dow back to positive territory for year Dow back to positive territory for year

Wed, Aug 13, 2014 - (2:18)

The Exchange »

The Exchange: Hot commodity The Exchange: Hot commodity

Wed, Jul 16, 2014 - (9:25)

The Exchange: Constitutional crusade The Exchange: Constitutional crusade

Wed, Jun 25, 2014 - (11:35)

The Exchange: The value of money The Exchange: The value of money

Mon, Jun 02, 2014 - (9:53)

The Exchange: China’s Second Continent The Exchange: China’s Second Continent

Tue, May 27, 2014 - (9:35)

The Exchange: A master of business arts The Exchange: A master of business arts

Thu, May 08, 2014 - (8:24)

The Exchange: America's bankrupt cities The Exchange: America's bankrupt cities

Mon, May 05, 2014 - (8:52)

The Exchange: Let the rocking commence The Exchange: Let the rocking commence

Tue, Apr 08, 2014 - (8:13)

The Exchange: The Moneyball fallacies The Exchange: The Moneyball fallacies

Mon, Mar 24, 2014 - (9:54)

Is doing good a good business? Is doing good a good business?

Mon, Mar 17, 2014 - (7:38)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Moving Pictures »

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Wed, Jul 02, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, Jun 06, 2014 - (1:08)

VIVID – Sydney’s spectacle of light VIVID – Sydney’s spectacle of light

Fri, May 30, 2014 - (1:37)