Leaders of the G8 major economies have agreed new measures to clamp down on money launderers, illegal tax evaders and corporate tax avoiders. They include requiring that shell companies - often used to exploit tax loopholes and invest money anonymously - identify their effective owners. Rt Revd Dr Alan Smith is the Bishop of St Albans.
He told Premier's Victoria Laurence on the News Hour that he has been questioning whether current tax laws are fit for purpose today:
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