To consider the following Motion submitted by Councillor McKinley:
“Financial Malpractice:
This Council recognises that taxation is an investment that enables the public and private sectors ability to do business and that tax evasion and avoidance are dysfunctional for the workings of a healthy economy. We condemn unethical business practice such as tax evasion, tax avoidance through loopholes, the activities of the offshore secrecy industry and the international financial malpractice operated by multinational companies. These actions significantly contributed to the banking crisis and continue to siphon millions of pounds in flight capital out of the UK economy each day. We believe such activities are immoral and little more than economic crimes against the citizens of the UK, furthermore, they contribute to the growing wealth of the undeserving rich at the expense of and the impoverishment of middle and lower income working people. The UK deficit could be significantly reduced if such financial malpractice could be controlled, this fact exposes the Coalition governments ideologically driven weapon of choice ‘austerity’ as little more than a convenient smokescreen to embed economic liberalism and reduce the size of the state. We call on national and local government to act to stop immoral financial malpractice.
We call on the National Government to:
Seek international agreement on cross border taxation and the control of multinational transfer pricing and support the European Union’s initiatives to introduce a financial transactions Tax;
Re- introduce legislation on Usury to prevent the charging of excessive rates of interest;
Introduce effective regulation of the financial services sector, including democratic control of the offshore industry and the activities of the City of London Corporation; and
Introduce an effective General Anti-Abuse Rule to prevent tax evasion and dysfunctional tax avoidance.
Sefton Council will:
Enhance /reaffirm its commitment to ethical business practice to include a more robust approach to the assessment of ethical business practice as part of the local implementation of Social value/procurement legislation.”
Minutes:
It was moved by Councillor McKinley, seconded by Councillor Gatherer:
“Financial Malpractice:
This Council recognises that taxation is an investment that enables the public and private sectors ability to do business and that tax evasion and avoidance are dysfunctional for the workings of a healthy economy. We condemn unethical business practice such as tax evasion, tax avoidance through loopholes, the activities of the offshore secrecy industry and the international financial malpractice operated by multinational companies. These actions significantly contributed to the banking crisis and continue to siphon millions of pounds in flight capital out of the UK economy each day. We believe such activities are immoral and little more than economic crimes against the citizens of the UK, furthermore, they contribute to the growing wealth of the undeserving rich at the expense of and the impoverishment of middle and lower income working people. The UK deficit could be significantly reduced if such financial malpractice could be controlled, this fact exposes the Coalition governments ideologically driven weapon of choice ‘austerity’ as little more than a convenient smokescreen to embed economic liberalism and reduce the size of the state. We call on national and local government to act to stop immoral financial malpractice.
We call on the National Government to:
Seek international agreement on cross border taxation and the control of multinational transfer pricing and support the European Union’s initiatives to introduce a financial transactions tax;
Re- introduce legislation on Usury to prevent the charging of excessive rates of interest;
Introduce effective regulation of the financial services sector, including democratic control of the offshore industry and the activities of the City of London Corporation; and
Introduce an effective General Anti-Abuse Rule to prevent tax evasion and dysfunctional tax avoidance.
Sefton Council will:
Enhance /reaffirm its commitment to ethical business practice to include a more robust approach to the assessment of ethical business practice as part of the local implementation of social value/procurement legislation.”
The Mayor indicated that the Motion in its current format, was one to which Rule 84 of the Council and Committee Procedure Rules (Motions on Expenditure) applied and if carried, it would need to be referred to the Cabinet for final consideration of the financial implications in advance of any budgetary commitment and prior to any action being taken to implement the decision. If the Motion was amended and there are no financial implications arising from the Substantive Motion, it would not need to be referred to the Cabinet.
An amendment was moved by Councillor Papworth, seconded by Councillor Dutton that the Motion be amended by deleting the words “and support the European Union’s initiatives to introduce a financial transactions tax” in the sub-paragraph following the statement headed: “we call on the National Government to.”
On a show of hands, the Mayor declared that the amendment was lost by 50 votes to 9.
On a show of hands, the Mayor declared that the original Motion was carried by 32 votes to 8 with 18 abstentions and it was
RESOLVED:
The in accordance with Rule 84 of the Council and Committee Procedure Rules (Motions on Expenditure), the following Motion be referred to the Cabinet for consideration of the financial implications in advance of any budgetary commitment and prior to any action being taken to implement the decision:
“Financial Malpractice:
This Council recognises that taxation is an investment that enables the public and private sectors ability to do business and that tax evasion and avoidance are dysfunctional for the workings of a healthy economy. We condemn unethical business practice such as tax evasion, tax avoidance through loopholes, the activities of the offshore secrecy industry and the international financial malpractice operated by multinational companies. These actions significantly contributed to the banking crisis and continue to siphon millions of pounds in flight capital out of the UK economy each day. We believe such activities are immoral and little more than economic crimes against the citizens of the UK, furthermore, they contribute to the growing wealth of the undeserving rich at the expense of and the impoverishment of middle and lower income working people. The UK deficit could be significantly reduced if such financial malpractice could be controlled, this fact exposes the Coalition governments ideologically driven weapon of choice ‘austerity’ as little more than a convenient smokescreen to embed economic liberalism and reduce the size of the state. We call on national and local government to act to stop immoral financial malpractice.
We call on the National Government to:
Seek international agreement on cross border taxation and the control of multinational transfer pricing and support the European Union’s initiatives to introduce a financial transactions tax;
Re- introduce legislation on Usury to prevent the charging of excessive rates of interest;
Introduce effective regulation of the financial services sector, including democratic control of the offshore industry and the activities of the City of London Corporation; and
Introduce an effective General Anti-Abuse Rule to prevent tax evasion and dysfunctional tax avoidance.
Sefton Council will:
Enhance /reaffirm its commitment to ethical business practice to include a more robust approach to the assessment of ethical business practice as part of the local implementation of social value/procurement legislation.”