Morning Star.png Labour Willing to cut out Big Four firms including KPMG The British Labour Party said yesterday that it would cut the Big Four accountants out of foreign aid projects if they and their clients keep stuffing money into tax havens at the expense of the world’s poorest. The party said that the Luxleaks scandal in 2014 showed how the firms — Ernst and Young, KPMG, PricewaterhouseCoopers and Deloitte — promote international tax avoidance, which costs developing countries £140 billion a year. That’s half again the total amount they receive in aid from rich countries. And the recent Panama Papers scandal provided more proof that both the Big Four and their clients had been stuffing money in tax havens — mainly the British Virgin Islands. “There is a clear conflict of interest in DfID spending aid through these firms to reduce global poverty because these companies are themselves fuelling legal theft of the developing world’s public finances,” warned shadow international development secretary Diane Abbott. “This practice undermines development work.” From: http://www.morningstaronline.co.uk/a-49b4-Labour-willing-to-cut-out-the-Big- Four#.Vw4d-vl9600 -- -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] . --- You received this message because you are subscribed to the Google Groups "YCLSA Discussion Forum" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
