It would seem that Philip Hammond wants to turn the UK into a tax haven as a result of Brexit. Here are some of my thoughts on Philip Hammond's dream, offered on Twitter this morning:
My new book - 'Dirty Secrets - How tax havens destroy the economy' -will have much more on this theme. Out on 7 February.
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I read this in the Observer (on the web) today and one word popped into my head: JERSEY.
Well at least I won’t have to go and visit the island – it will be here quite soon enough it seems!!
Particularly think it is shortsighted given your second last tweet – they encourage economic warfare.
If we go down that route, what’s to stop Europe turning itself into a vast Offshore tax haven for British wealth on our doorstep?
(Come to think of it, post-Brexit, a) what will stop them doing it anyway, b) what mechanisms will there be in place to resolve such issues.)
Some EU states ajrady are tax havens
You may have seen this. An important addition to the debate about tax cheating and coming out of Europe. (I refuse to use the word brexit).
https://www.theguardian.com/politics/2017/jan/14/netherlands-will-block-eu-deal-with-uk-without-tax-avoidance-measures?CMP=share_btn_link
By the Netherlands is a serious tax haven itself
Maybe it doesn’t want the competition. Is that feasible?
Not too sure about this. Criminal gangs etc. seem to do quite well in many tax havens and often there is a thriving low life. Its only the ordinary people in ordinary jobs who lose out.
Criminal gangs and a thriving low life in the ‘tax havens’ ?? Proof please. ( kettle and pot come to mind )
I have no idea what you mean by the last part
The evidence of criminal use of tax havens is overwhelming: the whole of the FATF initiative is aimed at it