It's time for the UK to act on its tax havens

October 3rd, 2011

This image comes from the Hindustan Times.

I’m reproducing it. It shows just how important the British Overseas Territories are to the City of London and the tax abuse it promotes. And remember, it misses off the Crown Dependencies of Jersey, Guernsey and the Isle of Man.

British Overseas Territories/Hindustan Times

When the Tax Justice Network and I argue that tax haven abuse is integral to the City of London we have good reason to say so.

And it’s not chance these vestiges of the British Empire are kept firmly under British control (as they all are by the terms of their constitutions and as was evidenced by the takeover of direct rule by London as a matter of right in the case of the Turks & Caicos Islands). It’s absolutely deliberate that the City runs these centres of corruption on behalf of the City of London. It’s so much easier to say the abuse happens ’elsewhere’ and not at home – even though it’s a mere pretence that this is the case.

The time to get rid of these tax havens is now.

Ideas on how to do so can be found here.

Written by Richard Murphy

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