09 May 2016

Don't hold your breath

How long before Cameron actually does anything?  The Times reports:
Britain’s sovereignty over a third of the world’s tax havens makes it “uniquely placed” to reduce corruption by lifting secrecy on the ownership of companies and trusts, a group of 300 leading economists writes today.
It a letter to world leaders before an anti-corruption summit being hosted by David Cameron in London on Thursday, the economists say that there is no justification for tax havens and urge the prime minister to take action to clamp down on them.
Aye, well, it's not gonna happen soon.  The article goes on:
The Times revealed on Saturday that commitments included in draft versions of the summit communiqué had been watered down. A demand that registers of the true ownership of offshore companies should be made public has been reduced to a commitment that law enforcement agencies and others can access the information.
Anything to avoid upsetting his pals in the City ...


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