Arcadia boss Sir Philip Green should pay tax in the UK, according to the Business Secretary Vince Cable.
Cable, who previously criticised Green before he became a Minister, said his views remain unchanged since the retail entrepreneur, who owns Topshop and Bhs among other chains, became a government adviser.
According to the Daily Telegraph Liberal Democrat Cable replied to a question about Green’s tax arrangements in Parliament yesterday saying: “I haven’t changed my views. I think he should pay his taxes in the UK.”
Green is thought to have legally avoided tens of millions of pounds in tax by transferring ownership of many of his business interests to his wife, who lives offshore in Monaco. He only pays tax on his personal income and his businesses pay tax in this country.
Green hit the headlines this week when he revealed the outcome of his review of government spending for Prime Minister David Cameron.