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New statement to the G8 from Christian Aid's economic policy advisor

February 16 2013 - Joseph Stead, Christian Aid senior economic policy adviser said today: ‘The G20 must address as an absolute priority the impact of tax dodging in the developing world'.

The amounts involved are truly scandalous. Poor countries lose an estimated $160bn a year through tax dodging by multinationals. That’s more than they get in aid. It’s heartening that there is clearly growing acceptance that the tax system in place at present is so wide open to abuse that it is not fit for purpose. But we have seen various recommendations for reform rejected in the past by the G20 in general and the UK government in particular. Their minds are now concentrated on the financial shortfall rich countries suffer from tax abuse. The impact in the developing world, however, where money in many countries is desperately needed for basic services such as health and education, is far worse.’

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Further information from Andrew Hogg 07872 350534