The world's rich economies said they would take a tougher stance on fighting money laundering and tax evasion but promised little in the way of specific new action at the end of a two-day summit on Tuesday (June 18).
"The Lough Erne declaration that we have signed sets out some simple and some clear commitments, tax authorities across the world should automatically share information, so those who want to evade taxes have nowhere to hide. Companies should know who really owns them and tax inspectors and law enforcers should be able to obtain this information easily," said Prime Minister, David Cameron.
"So we think an important step has been made, we think that the progress they got on tax information exchange is a real step forward however there is major unfinished business on beneficial ownership which was the other side of the agenda, frankly they didn't make the progress that we hoped they would. So it's unfinished business, it's the beginning of a job and what we're saying is that G8's and G20's in the future need to finish that job and get it done," said Enough Food for Everyone IF campaign spokesman, Brendan Cox.