#SHOWMETHEMONEY

I recently backed an amendment to the Finance Bill to end the secrecy around multinational companies' taxes. If passed, it will require big multinational companies to publish information about where they make money and pay taxes.

In February the Public Accounts Committee called HMRC and Google to give evidence to the Committee about their now-infamous £130 million tax deal.

Regardless of the questions we asked, or how we probed the witnesses, due to the extreme secrecy and confidentiality that surrounds these settlements we could not say whether this was a good deal for the taxpayer.

We are now convinced that the best way to tackle this issue is through greater transparency.

Twelve members of the Public Accounts Committee, along with two former Chairs, have added their names to the amendment introduced by Rt Hon Caroline Flint MP, the #showmethemoney amendment.

People in Hackney want successful companies in the UK, but they want them to pay tax fairly. Too many multinational companies seem to be choosing the tax they want to pay, rather than paying the tax they should pay, via complicated international arrangements.

We cannot have one rule for UK businesses that pay their fair share, and another for multinationals able to shift their profits around the globe. Our message to the Chancellor and the Government is - take a lead and back our amendment.

The campaign is also supported by Tax Justice Network, Global Witness, business-led Fair Tax Mark, and key groups from the development lobby, including Oxfam, Christian Aid, Action Aid, Save the Children and CAFOD. Charities say that developing countries lose more in taxes unpaid by big business every year than they receive in aid.

MPs will have the opportunity to vote on this measure on 28th June, when the Finance Bill is debated in the House of Commons.