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UK Shadow Chancellor of the Exchequer praises the need for a just tax system at TA & IAB awards dinner

By Vincent Huck

The UK Shadow Chancellor of the Exchequer John McDonnell attended The Accountant & International Accounting Bulletin 2017 award dinner where he presented the Abraham Briloff award for extraordinary contribution in promoting transparency and public accountability to accounting professor Prem Sikka.

In presenting Sikka with editor’s award from The Accountant and International Accounting Bulletin, McDonnell said: “It’s an honour to be asked to present this for someone who I think will be long known for the work that he’s done and laying the foundation of a fair, just, open and transparent tax system.”

McDonnell praised Sikka for his role in setting up the Tax Justice Network in 2003 at a time when people where not necessarily interested in tax avoidance and evasion and he also praised him for his contribution as an advisor to the House of Commons select committees, various individual MPs, the Labour party as well as other parties.

“Many of the policies that we are advocating at the moment are based on the work that Prem has done over the years,” McDonnell said. “The importance of opening up the books, the importance of having a register of beneficial interest, the importance of having an effective HMRC, and he and his team have just undertaken a review of the HMRC and the resources that they need to ensure that there is an effective tax operation within this country. And much of the legislation that you will see us promoting in parliament, often on all sides of the house, will be as a result of the work that he’s done in the advice that he’s given us; how we can establish that fairness and transparency within the tax system.”

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