Newton Dunn: Billions of pounds in taxes and thousands of jobs being lost to organised crime

Bill Newton-Dunn MEPThe European Parliament today voted on a report calling more European coopeation to address organised crime, corruption and money-laundering in the EU. The report calls for stronger maritime cooperation and border management to stamp out human-trafficking and the smuggling of counterfeit products, weapons and illegal drugs. It also calls for better information-sharing and coordination between national authorities to enable them to fight organised crime and confiscate criminal assets more effectively.

Bill Newton Dunn MEP, the Liberal Democrat Coordinator on the European Parliament’s committee on Organised Crime, commented:

“Shockingly, at a time when governments across Europe are struggling to balance the books, we are losing billions of pounds worth of tax revenue each year to gangs of ruthless criminals. VAT fraud alone is estimated to account for €100 billion of lost revenue a year to the EU, while £4.7 billion of taxes are being lost to criminals annually in the UK. Continue reading

Lib Dem MEPs pave way for tough new rules on corporate transparency

Large oil, gas, diamond and logging companies will be obliged to disclose full information on all projects where payments to governmental authorities exceed a threshold of 100.000 Euros under new rules negotiated between MEPs and ministers from all 27 EU Member States last night.

The Leader of the Liberal Democrat delegation in the European Parliament, Fiona Hall MEP, who steered the legislation through the Development Committee and was a key MEP for the insertion of the county-by-country and project-by-project rule, commented: Continue reading