Mr. Jim Clarken:

Broadly speaking, the OECD has identified a global crisis in terms of corporate tax and tax avoidance. That this has been done and agreed by a body is helpful, but the OECD is not a representative body. Rather, it is a club for the wealthiest nations in the world. Developing countries were not there at the beginning and have not been involved in designing the initiative. That is very problematic. I do not know any country that would sign up to a set of agreements that were designed without its input. That is fundamental to our problem with this. There is global momentum in the G77, led by Ecuador and supported by China, for the UN or a globally representative body to tackle these issues. The fundamental flaw cannot be addressed by the current initiative.