Meacher chases fat-cat earners

MICHAEL MEACHER

MP demands tax returns law
AN Oldham MP today demanded it becomes law that top earners and biggest companies publish their tax returns to crackdown on tax avoidance.

Oldham West and Royton MP Michael Meacher said the move would stamp out the millions lost to the UK, which could be used to create new jobs.

He in introducing an Anti-Tax Avoidance Bill in Parliament demanding the top 250 earner and 150 companies make their finances public.

Mr Meacher said: “Tax avoidance is happening on a monstrous scale and we need to make sure people and companies pay. Ensuring the top 250 people and 150 companies open their books will broadly cover the very rich.

“We know a little about the top 100 individual from the Sunday Times Rich List and we also know over the last four years since the financial crash their income has increased by £190 billion.”

The Labour MP wants the £190 billion taxed, which he believes after manipulating from accountants, could secure £35 billion.

Mr Meacher was telling MPs that money could create up to two million jobs in the next two years and get the economy moving again.

He added: “Instead of having 2.5 million unemployed if this figure could be reduced to one million there would be more money coming into the exchequer through taxes and National Insurance payments.

“It would rapidly swing the economy back into action and not cost the public purse any money. This is a real alternative to austerity.

“The rich are the only ones who have not paid or suffered.

“My Bill tackles that problem and it is an answer to austerity and social justice.”