Tax Paid By Railway Companies

EDM number 1089 in 2007-08, proposed by John McDonnell on 03/03/2008.
Categorised under the topics of Railways and Taxation.

That this House notes the report by the Tax Justice Network for the RMT union that the privatised rail industry is profiteering from £1.3 billion in unpaid tax and is using a deferred-tax loophole intended to encourage investment to instead fund increases in dividend payouts to shareholders; is appalled that whilst private rail companies are profiting from this tax loophole passengers are being asked to pay higher rail fares and endure delays and overcrowding on many rail services; therefore urges the Chancellor of the Exchequer to use the forthcoming Budget to announce that this tax loophole will be closed; and believes that this further example of shameless profiteering at passengers' expense once again demonstrates the need for a publicly owned and publicly accountable railway.

This motion has been signed by a total of 37 MPs.