24. To ask the Chancellor of the Exchequer what recent steps his Department has taken to ensure that companies in the financial sector are paying the appropriate levels of taxation. (256306)

It is important that all taxpayers pay their fair share of tax. Most corporates, including those in the financial sector, do pay their fair share. The Government will continue to tackle those companies who deliberately seek to evade or avoid tax. Each recent Budget has contained measures to close down avoidance schemes with a potential annual cost of £1-1½ billion a year.