As the Guardian reported last night:
Britain will not make fresh demands of its overseas territories to end tax secrecy at an upcoming anti-corruption summit, the minister for the territories has confirmed.
Let me be honest: in my opinion that makes David Cameron wholly unsuited to the task of heading an international conference on corruption next month.
By making this announcement his government has confirmed it is the defender of secrecy jurisdictions and, because of the special relationship these places have with the UK, it has become the de facto promoter of the harm they cause to tax revenues, to developing countries, to fair competition, to markets and to democracy.
To not overstate the case David Cameron will be the problem this conerence will have to address.
David Cameron is corruption's friend, not its enemy.
I am deeply disappointed.
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I am deeply disappointed.-But surely not surprised given the craven nature of contemporary politicians?
Secrecy of financial shenanigans is the life-blood of the system.
Yes, disappointing, but keep on fighting. Another article today from Aditya Chakrabortty on how capitalism linked to tax havens is destroying our well being.
http://www.theguardian.com/news/2016/apr/13/how-boots-went-rogue
Extraordinary analysis by Chakraborty:
““Boots is now about immuring tax, squeezing labour costs and taking out the dividends rather than reinvesting in the business.”
That sums up our whole culture at present.
Why do we have Companies House register?
Surely to give access to information.
Why then do we not have the same requirement for off shore territories?
To stop access to information
Are serious about money laundering and fraud ?
Presumably, we are. Then will information not help us.
Why do we not lead by example ?
As long as the Conservatives remain reliant on donors profiting from tax havens, their hands are tied. Dodgy Dave is strong on rhetoric but as recent events have shown he would rather financial matters remain “private” whether it is personal finance or state. His international reputation must surely be sorely tarnished so his May 9th conference will not be taken seriously and anyway he has no serious proposals as he is against country by country reporting and accountability.
He is unsuited for this role – very true.
But he is now just keeping up appearances – by being seen to be involved they are hoping to rehabilitate his reputation. I fear that many will fall for it.
While the popuation of the UK is drip fed drivel and lies from the right wing press there is no chance of them having an informed opinion about dodgy Dave’s exploits. They will continue to be told Labour bad, Tory good, two legs bad, four legs good.
Even ‘public interest’ whistle-blowing may not be what it initially seems, if this report into those sponsoring the Panama Papers is to be believed:
https://off-guardian.org/2016/04/04/panama-papers-revealing-details-live-in-the-gaps-between-the-lines/