In case there is any doubt I do blame tax haven / secrecy jurisdictions for this:
The Office for National Statistics today confirmed unemployment rose to almost 2.03 million in the three months to January – the highest in 12 years and a rise of 165,000 from the previous quarter.
That was broadly in line with expectations but the claimant count – which only includes those drawing jobseeker's allowance – surged by 138,400 last month, easily exceeding the record rise of 118,000 set during the depths of the early-1990s recession.
Tax havens do three things. They provide unfair economic advantage to the already wealthy. They undermine the credibility of markets. They over-reward financial risk and result in too little reward being earned by real economic activity that employs people. All three have harmed job prospects.
The financial crisis was not created offshore. But offshore massively amplified it.
Real people are paying the price.