UK Bosses Urge Leaders To Tread Carefully With Low Tax Jurisdictions

July 29th, 2009

Tax haven bashing, while politically popular during a time of worldwide recession, may not be the most economically-sensible course of action for world leaders to take with a view to restoring longer-term global prosperity, the UK’s Institute of Directors (IoD) has warned.

In a new paper released on July 27, the IoD criticized the “obvious” response of the G20 nations at the London summit in April to the worldwide financial crisis – namely more cooperation between the powerful high-tax states and a renewed push to purge the world of low-tax offshore financial centres – warning that these “may not be the most productive” choices.

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