Holding back the banks

Posted on

Prem Sikka has been writing on the Guardian blog. In a feature with the above title he says:

In the UK, successive governments have shown little interest in mounting an investigation into the role of banks in tax avoidance though some banks have been persuaded to inform authorities of the offshore accounts held by private individuals. No questions have been asked about how banks avoid their taxes and how they lubricate the giant and destructive tax avoidance industry.

When asked "if he will commission research on the levels of use of offshore tax havens by UK banks and the economic effects of that use," the chancellor of the exchequer replied:

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? That's what I want to know.

So does Prem.


Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:

There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.

You can subscribe to this blog's daily email here.

And if you would like to support this blog you can, here:

  • Richard Murphy

    Read more about me

  • Support This Site

    If you like what I do please support me on Ko-fi using credit or debit card or PayPal

  • Archives

  • Categories

  • Taxing wealth report 2024

  • Newsletter signup

    Get a daily email of my blog posts.

    Please wait...

    Thank you for sign up!

  • Podcast

  • Follow me

    LinkedIn

    LinkedIn

    Mastodon

    @RichardJMurphy

    BlueSky

    @richardjmurphy.bsky.social