Treasurer Jim Chalmers says there will likely be “further steps” taken in opposition to consulting agency PricewaterhouseCoopers after a former associate leaked confidential details about authorities tax plans.
The former head of worldwide tax for PwC, Peter Collins – who has been banned from performing as a tax practitioner – leaked confidential authorities briefings about combating tax avoidance with purchasers and companions.
It has prompted wide-ranging dialog in regards to the position consulting companies ought to have when coping with extremely confidential authorities info, similtaneously a brand new report reveals the massive 4 consulting companies have elevated their dealings with the federal authorities by 400 per cent over a decade, in keeping with the Nine newspapers.
While the Department of Treasury is reportedly contemplating whether or not a prison investigation ought to be pursued, Dr Chalmers mentioned he had discovered the PwC expertise “deeply, deeply troubling” and “inexcusable”.
Dr Chalmers mentioned, with out going into element, the federal government was contemplating taking “further steps”.
“I will have more to say about how we crack down on this behaviour, which is inexcusable, frankly, particularly when you consider that corporate Australia, for the right reasons, wants to be consulted on changes that impact them,” he advised ABC Radio.
He mentioned the federal government, like Australians, wanted to have the ability to belief the method, however that belief had “been broken down here”.
“We need to fix it; we’ve taken some steps already and there will be more steps as well,” he mentioned.
Asked whether or not he thought giving so many contracts to the Big 4 – PwC, Deloitte, EY and KPMG – was an acceptable use of public cash, Dr Chalmers conceded the stability hasn’t “been right over the course of the last decade”.
He mentioned he, alongside Finance Minister Katy Gallagher, discovered it “troubling” that on the identical time the general public service was stripped, there had been such a big improve in contracting.
“We do need to rebalance it, that’s what we’re doing,” he mentioned.
“There will always be a role for external expert advice, but we think the balance has been wrong, and we want to rebalance it.”
Source: www.perthnow.com.au
