Live updates

Treasury announce 'tough' new tax evasion laws

The Treasury has outlined plans to strengthen the law on tax evasion following George Osborne's Budget yesterday.

Danny Alexander making his statement to the Commons today. Credit: ITV News

Danny Alexander, the chief secretary to the Treasury, said a new strict liability criminal offence would be introduced so offshore tax evaders "could no longer plead ignorance" in an attempt to avoid prosecution.

"Strict liability will bring an end to the defence of, 'I knew nothing - it was my accountant my Lord,'" Alexander told the Commons.

He said the Government would also enforce a new offence of corporate failure to prevent tax evasion, so no organisation is allowed "to get away with facilitating or abetting others to evade tax".

Anyone who helps tax evaders will also be handed new civil penalties, Mr Alexander announced, meaning those found guilty will be forced to pay fines that matches the sum of the tax dodged.

During his speech in the Commons, Mr Alexander was met with angry heckling from Labour MPs who accused him of abusing his ministerial office by Labour to set out the Liberal Democrats' "alternative Budget".

Labour makes 'cut and freeze' business rates vow

Labour has said it will "cut and then freeze" business rates for 1.5 million small business properties if it wins the next General Election.

Shabana Mahmood, shadow exchequer secretary to the Treasury, said: "Labour's better plan goes much further than anything David Cameron and George Osborne are offering.

Labour has set out its stall ahead of the General Election. Credit: Joe Giddens/PA Wire

"And unlike the Tories, we won't short-change areas which choose not to have an elected mayor by giving them a second-class deal. Every part of England will benefit from Labour's better plan, not just a few."

Mahmood's comments follow the Chief Secretary to the Treasury's announcement of a "radical" review of English business rates.


'Wide-ranging' business rates review launched

Danny Alexander has launched what the government calls "the most wide-ranging review of national business rates in a generation".

The review, set to report back before the 2016 Budget, will examine the structure of the current system, which is paid annually on 1.8 million properties in England.

Chief Secretary to the treasury Danny Alexander. Credit: Danny Lawson/PA Wire

It will examine how businesses use property, what the UK can learn from other countries and how the system could be modernised so it better reflects changes in the value of property.

"Now the time has come for a radical review of this important tax. We want to ensure the business rates system is fair, efficient and effective," the Chief Secretary to the Treasury is expected to say.

Firms who fail to prevent tax evasion 'to face stiff fines'

Chief Secretary to the Treasury Danny Alexander. Credit: BBC/The Andrew Marr Show

Firms which fail to prevent tax evasion would be subject to stiff fines under a proposed new crackdown, the Chief Secretary to the Treasury has said.

Danny Alexander suggested a new offence of "corporate failure to avoid preventing an economic crime" could become law.

Under the proposals, organisations who encourage tax evasion would face the same fines as the evaders themselves.

It comes after allegations HSBC was involved in a tax avoidance scandal.

Speaking on The Andrew Marr Show, Mr Alexander said: "Organisations, be they accountants, banks or whatever, who help people evade tax will be liable for this new offence and crucially liable for financial penalties.

"So, for example, if their customers have to pay back hundreds of millions of pounds in tax, then those organisations should have to match that."

Alexander: Families must benefit from oil price fall

Families must benefit from the fall in oil prices in their heating bills and airline tickets, Danny Alexander has told ITV News.

Mr Alexander's comments come after oil prices tumbled to their lowest level in nearly six years.

Speaking to Business Editor Joel Hills, the Chief Secretary to the Treasury said: "The fall in oil price is a benefit to most of the UK economy provided that the benefits are passed on at the pumps, in the cost of holidays and in the cost of heating homes."


Alexander: Tories taking credit for recovery 'p***** me off'

Chief Secretary to the Treasury Danny Alexander claims that the Conservatives are responsible for the UK's economic recovery "p***** me off".

Danny Alexander said he was annoyed over the Tories' economic claims. Credit: Tim Goode/EMPICS Entertainment

He told the Sun on Sunday (£), "It isn’t the bloody Conservatives. It’s the Coalition and we as Liberal Democrats have done as much as the Tories have. It really p***es me off when I look at what we’ve done."

In his speech to the Liberal Democrat party conference later today, Alexander is expected to say, "The Tories like to try to claim the credit for lots of our achievements, including the economic recovery. We have to set the record straight ... We wrote the recovery plan."

Alexander: Polls show 'every vote has to be fought for'

Chief Secretary to the Treasury Danny Alexander has said the recent narrowing between the Yes and No votes in polls shows that "every vote has to be fought for".

He said there are still "huge unanswered questions" which the Yes Scotland campaign has to deal with, especially surrounding the issue of currency.

Lib Dem turnaround on controversial Bedroom Tax

The Liberal Democrats have called for a reform of the "bedroom tax" in a dramatic withdrawal of support for the controversial welfare reform.

Speaking to The Mirror, Chief Secretary to the Treasury Danny Alexander said it's time to "take stock and change our approach."

He said:

With only one in 20 of affected claimants having successfully downsized, it’s clearly time to take stock and change our approach in this particular area.

Those already in the social rented sector would only see a reduction in their housing benefit if they are offered a ­suitable smaller home and, crucially, turn it down.

Disabled adults should be treated in the same way as disabled children, by permanently exempting them.

– Danny Alexander
Load more updates