Jacob Rees-Mogg MP says tax avoidance commonplace even in “most respectable families”
Tax avoidance is commonplace amongst “even the most respectable families”, according to North East Somerset MP Jacob Rees- Mogg.
Speaking in debate on the HSBC tax row in the Commons yesterday (23/02) Mr Rees- Mogg said, “Doesn’t this question itself show the danger of alliding tax avoidance and tax evasion?
“That there is no obligation on anybody to pay more tax than the law requires and even the most respectable families have schemes or arrangements to minimise death duties and things like that.
“Whereas tax evasion is a very serious criminal offence which should be come down on with the full force of the law.”
Responding to his comments, one Labour MP shouted “that’s the Tory Party” and the Chancellor George Osborne said this is a reference to Ed Miliband, who last week was accused of reducing his inheritance tax liabilities.
It was revealed the deed on Mr Miliband’s mother’s house allowed ownership of the property to be split between Mrs Miliband and her sons.
In the debate Mr Osborne said tax evasion is illegal and aggressive tax avoidance is something the government goes to great lengths to stop.
The heated debate took part in the House of Commons in the wake of allegations that HSBC’s Swiss private bank might have helped wealthy clients avoid or evade tax.
