Rebecca Evans Welsh Assembly Member 26th June 2018 Blog Wales Co-operative Party Economy Share Tweet I am proud to be a Labour and Co-operative Party Assembly Member. I am especially proud that the Co-operative Party is the first political party to achieve the Fair Tax Mark – and as a trade unionist I welcomed the announcement during Fair Tax Fortnight that the TUC has also achieved Fair Tax status. This is a campaign where the momentum is growing, and one which is capturing the imagination of businesses, organisations and consumers alike. The issue of ‘fair tax’ rose to prominence when emerged that high profile businesses had been avoiding paying corporation tax – something which not only distorts the UK economy but also undermines the opportunity for business to compete fairly. It is has been estimated that €600bn of corporate profits are annually shifted to tax havens, with corporate tax revenue losses globally of €200bn per year. This equates to approximately £7bn of missing revenues in the UK. Polls of consumers and the public consistently reveal that one of their biggest concerns about business is the fair payment of tax. Recently, I was pleased to back the first UK-wide Fair Tax Fortnight, a UK-wide celebration of the companies and organisations that are proud to pay their fair share of corporation tax. Every year, billions of pounds are missing from the UK’s public purse because companies choose to avoid paying their corporation tax, and this tax avoidance causes huge damage. Small businesses cannot compete because it is not a level playing field. Money funnels upwards contributing to growing inequality. Democracy is undermined as companies play by their own rules, and less money is available for the vital public services we all need. I am encouraging local businesses and organisations across my constituency of Gower and beyond to find out more about how achieving the Fair Tax Mark accreditation can help them become part of a growing UK-wide network of businesses leading on responsible practice, changing the tax landscape for the better.