Lobbying government

MQT on 2008-11-12
Session date: 
November 12, 2008
Question By: 
Mike Tuffrey
Liberal Democrats
Asked Of: 
The Mayor


Your press release of October 28th talks about 'lobbying government to have a competitive tax regime to ensure London remains a global centre.' Precisely what measures are you suggesting the government takes?


Answer for Lobbying government

Answer for Lobbying government

Answered By: 
The Mayor

At least two specific measures are envisaged. First, a commitment by the government to revise its procedures for making tax changes so that tax professionals are fully consulted on proposals before they are introduced, to avoid perverse incentives and impractical measures that are difficult or impossible to implement. Second, urgently to review the current regime for taxing profits earned overseas by UK based companies, on the basis that these deter companies from headquartering in London and in some cases have encouraged companies here to move their headquarters to other locations.