A new book on tax havens has been published this week. Written by Nick Shaxson, who has worked with the Tax Justice Network on the project, it is entitled ‘Treasure Islands’.
I’d stress, bar offering an endorsement and an interview, a long time ago, I’ve not had anything to do with this book, so I comment as a reasonably objective observer who is, however, delighted that Nick has brought this ambition project to fruition. I’m also delighted his publishers and agents have secured serialisation of the book in the Guardian, starting today.
Treasure Islands, which has its own dedicated web site, is a very different book from the one on tax havens I was a co-author of a year or so ago. That book sought to track the history and development of tax havens in academic fashion. Nick has done something very different. He’s explored the narrative of these places and sought to explain their social history, impact and consequence as told through the lives of individuals and organisations that have been engaged with them, promoted them and opposed them.
It’s a riveting read. I particularly recommend the chapter on the City of London and why it has to be considered a tax haven in its own right. Maybe I was more familiar with the other material, but what Nick has discovered here is really quite remarkable. I note he interviewed Maurice Glasman — now a Labour peer of course — as the foundation for some of this work. Let’s hope Maurice can his knowledge of what the City really is to effect change in due course.
In my endorsement of the book — which I read in draft last autumn I’ve said this is the best book on tax havens, ever. I stand by that. Strongly recommended and published straight to paperback to make it accessible.
I could summarise with the comment I think I have on the cover of the book:
Treasure Islands is the best book on tax havens, ever. It shines a light in some very dark places. It reads like a thriller. The shocking thing is, it’s all true. The world’s suppliers of corruption services — the bankers, lawyers and accountants working from tax havens — won’t want you to read this book. Which is exactly why you should.
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Hi Richard,
I am a leftleaning chartered accountant
Whilst I applaud the efforts of taxuncut etc for drawing atention to the problem I believe that there efforts is a sideshow and a circus. I propose a badge for businesses similar to the fair trade badge. This will enable those who believe that tax avoidance (evasion) (whatever?) can shop on their high street and know that the multiples are not just taking all the profits out of this Country and to for example Switzerland. (Isn’t Boots reprehensible).
I believe that some people for example yourself and Will Hutton, Larry Elliot, Johann Hari, Franky Boyle( only joking ) could pull together some guidelines amd ask businesses to apply for Fair Tax Status. This isnt legally binding but anyone with half a brain can see those who arent playing the game. (Foreign Holding companies for
example in low tax regimes would be a giveaway)
At the end of the day you wont get everyone to subscribe to this (liberterian nutjobs)but I think you will get all party crossover. If for example 20% of Boots customers were put off shopping there by their agressive tax planning then that would more than negate any advantage they could have by relocating to Switzerland.
I would love to hear your response to this
Kind regards
Neil McLaughlin
You may have seen the Friday story in the FT about the Tchenquiz family, their Consensus Business Group and the financial hole they are now in. I blogged on this yesterday, Saturday, about the implications of the sale of their subsidiary, Peverel Property Management Services. This may appear to be a minor issue in the great scheme of things but it gives a very good example of the disasters in train for ordinary people.
[…] thought this comment on the blog over the weekend (that I have edited slightly) worth […]