The United States Senate Permanent Subcommittee on Investigations Committee on Homeland Security and Governmental Affairs published its report entitled Tax Haven Abuses: The Enablers, The Tools and Secrecy on 1 August.
This is an important report. It will require a lot of analysis.
But I've got one, I admit, very personal reason to welcome it. The very first line of the report reads as follows:
Offshore tax havens and secrecy jurisdictions today hold trillions of dollars in assets.
It the refers to footnote 1. Footnote 1 says:
See, e.g., “The Price of Offshore,” Tax Justice Network briefing paper (3/05)(estimating that offshore
assets of high net worth individuals now total $11.5 trillion)
'The Price of Offshore' was a report 'Prepared by Tax Research for the Tax Justice Network/UK'. It was in effect a collaboration between myself and John Christensen.
As a campaigner you sometimes wonder whether you're whistling in the dark. And just occasionally, like this, someone gives you a hint that it's worthwhile.