Re: International norms
"The UK already has full powers to cut down on tax evasion, and it's good to see that it is starting to do so."
This is where we need to discriminate between evasion and avoidance. Evasion is illegal so obviously the UK has full powers at its disposal. Avoidance, which is the case here, is the use of legal means to reduce tax. That means that the only powers available to a govt. not happy with the tax take are to huff and puff but let the avoider carry on, change rules on existing taxes, introduce new taxes or, in the case of multinationals, reduce tax rates so as to make the country a more attractive place in which taxable income can be realised. The last is only really workable for a small economy such as Ireland or Luxembourg but not, at present, the UK. A new tax seems to be the most workable of the others.