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    David Cameron to be questioned in Parliament on Government's failure to close tax loophole

    The Government faces a grilling over why it has ignored advice to close a glaring loophole amid claims that it has

    been swayed by lobbying from key beneficiaries of the measure

    David Cameron will be interrogated over his Government's failure to close a legal tax loophole that The Independent has revealed is losing the public purse at least £500m.

    Labour is planning to ask the Prime Minister why HMRC did not act on last year's proposals to close the quoted Eurobond exemption after intense lobbying from the financial sector, a party inside said last night.

    A joint investigation by Corporate Watch and The Independent is revealing more than 30 companies using the loophole over the course of this week.

    Those already named in the paper as benefiting from the legal tax avoidance scheme include nine major care providers with Government contracts, National Lottery operators Camelot, and a raft of high street chains.

    MPs and campaigners demanded last night that ministers explain their continued failure to deal with the issue. HMRC will face a grilling by the Public Accounts Committee on Monday over their failure to tackle the legal loophole.

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