Hansard reports the following exchange:
Mr. Austin Mitchell: To ask the Chancellor of the Exchequer if he will commission research on the levels of use of offshore tax havens by UK banks and the economic effects of that use. [175531]
Jane Kennedy: There are no plans to commission research on the levels of use of offshore tax havens by UK banks and the economic effects of that use.
Why not, for heaven's sake?
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Precisely Richard. No doubt your question will go unanswered as opposed to being ignored as was Austin Mitchell’s.
Once again what should an individual do? Write to his MP? 😡
As I see it, it does not matter what the UK have to say on tax havens. However, tax havens (especially their governments), on-shore as well as off-shore should be worring about the actions that the EU and OECD will take in the coming years.
For me the closure of illicit tax haven activity can’t come quick enough. However, the EU and OECD will have to consider economic rescue packages for post tax havens as many of the said havens a totally dependant on taxation from finance industry workers (Jersey for instance) for public infrastructure.