Mr. Brian Keegan:

I have a few general remarks. I thank the Chairman and the sub-committee for the opportunity to offer some comments.

It has often been observed that the worst person to decide what is the correct amount of tax to be paid is the taxpayer. That is something that comes to bear on much of the debate on these issues, whether it is to do with offshoring, avoidance or any of the matters that were raised this afternoon. Countries have their own sovereign interests and it is entirely defensible for any country to defend those interests. As a country, we need to stop beating ourselves up about our tax system. In fact, we have a system that is well administered and compliant with international norms. It is a system that secures the appropriate amount of tax from the companies which are within the charged tax remit and is reasonably consistent in its administration. Of course, there is always room for improvement. From speaking with people in other representative organisations across the globe, it is clear that this type of public and political debate is genuinely necessary if we are to achieve real improvements where such are needed. I thank the sub-committee for the opportunity to engage in this debate.