Underfunding HMRC is a false economy

Figures released this week show that HMRC are losing tens of billions in lost tax revenue.

During 2016/17, HMRC estimated that the shortfall was approximately £33 billion.

Commenting on these figures, which are equivalent to the entire budget for Housing and the Environment, Liberal Democrat Business and Treasury spokesperson Chuka Umunna said "For every extra pound the Government invests in HMRC, tax collection, clamping down on tax avoidance and evasion, it gets many more pounds in return but HMRC is simply not being given the resources it needs by Ministers to do the job. Continuing to underfund HMRC is a false economy."