Adrian Lovett, Europe Executive Director at ONE said: “The next 24 hours will be crucial here in Lough Erne. G8 countries need to tackle the scourge of ‘phantom firms’, by agreeing to disclose who really controls companies and trusts, through public registries. This will ensure that such information is available not only to tax and law enforcement authorities but also to ordinary citizens, the media and others who want to follow the money and root out corruption. The G8 must also ensure that the system they put in place for sharing tax information involves developing countries from the start.

“By taking these steps, the G8 will not only puts its own house in order, but do so in ways that help the fight against extreme poverty. The UK must continue to lead the way and lobby its G8 partners, with no let-up in pace or ambition.  G8 leaders must decide whether they want to shape the transparency revolution or resist the tide of history.”

ENDS

Adrian Lovett is at the summit and available for further comment. Please contact Asha Tharoor on 07584 470644 or [email protected]