Lib Dems: Special treatment unacceptable

Stephen Williams, chair of the Liberal Democrat Parliamentary Treasury Committee, comments on the public accounts committee (PAC) report into corporate tax avoidance:

"We all know that times are tough for government finances. In order to sort out Labour's mess there has to be a mixture of increasing tax revenue and restricting the growth of spending. At the same time the taxman must collect all the tax that is due. Special treatment or even the perception of special treatment for big corporations is simply.

"It is sometimes understandable in highly complex tax disputes that HMRC settles out of court. But when it comes to public money being lost through vast tax settlements, the taxman needs to be more transparent. The public must be able to see they how they are negotiating with big companies so they can see if special treatment is being given."