Chancellor George Osborne believes Britain has proven it is "open for business" by reducing its corporation tax rate over the course of the past two years.
Britain has cut its corporation tax rate by more than any other country in the G20 over the past two years, a message to the world that we are open for business that has seen companies return to Britain, and helping to create and secure thousands of jobs and millions in investment.
But our commitment to the most competitive corporate tax system goes hand in hand with our call for strong international standards to make sure that global companies, like anyone else, pay the taxes they owe.
That's why Britain, with Germany and France, asked the OECD to scrutinise the international rules, and we will together welcome their report to the G20 this weekend. The report shows this is an international issue that requires international action.
It shows the global economy has changed massively over the last decade, but global tax rules have stood still for almost a century, and Britain will lead the international effort to bring them into the twenty first century.
More top news
A bomb blast reportedly struck a refugee camp in Syria near the border with Jordan causing injuries and deaths.
Donald Trump's claim that the US subsidises the rest of the world to a massive extent should not go unchallenged.
Leader Paul Nuttall is confirmed as UKIP's candidate to contest Stoke Central by-election following Labour MP Tristram Hunt's departure.