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Figures released today (20th June) show that HM Revenue and Customs (HMRC) are losing tens of billions in lost tax revenue.
During 2016/17, HMRC estimated that the shortfall was approximately £33 billion.
Commenting on these figures, which are equivalent to the entire budget for Housing and the Environment, Liberal Democrat Business and Treasury spokesperson Chuka Umunna said:
“For every extra pound the Government invests in HMRC, tax collection, clamping down on tax avoidance and evasion, it gets many more pounds in return but HMRC is simply not being given the resources it needs by Ministers to do the job.
"Continuing to underfund HMRC is a false economy.”
During 2016/17, HMRC estimated that the shortfall was approximately £33 billion.
Commenting on these figures, which are equivalent to the entire budget for Housing and the Environment, Liberal Democrat Business and Treasury spokesperson Chuka Umunna said:
“For every extra pound the Government invests in HMRC, tax collection, clamping down on tax avoidance and evasion, it gets many more pounds in return but HMRC is simply not being given the resources it needs by Ministers to do the job.
"Continuing to underfund HMRC is a false economy.”
1 comment:
Govnt underfunding of HMRC can be deliberate. The 'money men' who hide their money usually are Tories .therefore you can argue a Tory govnt will 'discourage'the chasing of funds. Jersey guernsey IoM areat the moment wanting to disclose funds they hold but the Govnt are saying wait till 2023 (after the 2022, election) whilst they wish to bring it forward.Tory dragging their feet waiting for a new govnt to change the rules in their favour.
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