Business Secretary Vince Cable has condemned corporate tax avoidance as ‘completely unacceptable’, saying there are ‘appalling stories of abuse’. He told the BBC's Andrew Marr Show UK authorities should do more to stop it. However, he said that tackling the issue required international agreement as well as domestic action. His comments came after executives from Starbucks, Google and Amazon were grilled by MPs, although the firms say they operate within the tax rules. The executives were questioned earlier this month by the Public Accounts Committee about how they used favourable European tax jurisdictions for their UK businesses. Starbucks, for example, has made a taxable profit only once in its 15 years of operating in the UK. As a consequence, the company is thought to have paid just £8.6m in corporation tax over the period. Mr Cable told Andrew Marr: ‘The best off in society have got to contribute more, and that includes companies.’

Pray: that our Government will be successful in dealing with companies who avoid their full corporation taxes. (Mk.12:14)

More: http://www.bbc.co.uk/news/business-20384428