This image comes from the Hindustan Times.
I'm reproducing it shows juts how important the British Overseas Territories are to the City of London and the tax abuse it promotes.And remember, it misses off the Crown Dependencies of Jersey, Guernsey and the Isle of Man.
When I and the Tax Justice Network argue that tax haven abuse is integral to the City of London we have good reason to say so.
And it's not chance these vestiges of the British Empire are kept firmly under British control (as they all are by the terms of their constitutions and as was evidenced by the takeover of direct rule by London as a matter of right in the case of the Turks & Caicos Islands). It's absolutely deliberate that the City runs these centres of corruption on behalf of the City of London. It's so much easier to say the abuse happens 'elsewhere' and not at home - even though it's a mere pretence that this is the case.
The time to get rid of these tax havens is now.
Ideas on how to do so can be found here.
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But as well as your comments,are such “tax havens” conveniently mostly thus self financing? Do you envisage them being all incorporated like French colonies are to metropolitan France? Or maybe governance by a world wide spread of British Counties?!
I reiterate too-why do we now need troops in Germany,and indeed a sovereign base in Cyprus-the cost must be huge.
They aren’t even self financing now
I accept we’ll have to support them
It will be much cheaper than now
“The time to get rid of these tax havens is now”
There is already a project to get rid of all tax havens. It seems a bit idealistic but also of interest. It is based on citizens’ consumer power as the means to exercise pressure. At the moment there is one “challenge” to Switzerland and another one to the British tax havens.
The challenge to Switzerland is due to start on 1 December 2011 and is based on citizens’ consumer power as the means to pressure the Swiss Government by “not buying or using” Swiss products and of services until the mechanisms for tax havens are closed down”
The challenge to British Tax Havens is due to start on 15 August 2012 and is based on citizens’ consumer power as the means to pressure the UK Government by “not buying or using” Swiss products and of services until the mechanisms for tax havens are closed down”
All of these based on the guide “Don Quixote in the 21st Century”
Read all in http://www.citizensforaction.weebly.com
http://www.citizensforaction.weebly.com
Nothing new here – Richard Murphy has been noting these facts for years.
However it does serve as a very useful reminder for example (and we quote) …
The “Citizens for Action Challenge” starts with a proposal to effect a confrontation with the government of a country that violates international law and/or international agreements and/or international solidarity in a common cause, with the aim of forcing that country to correct the wrong done.
Because tax havens :-
* Promote tax evasion, which is illegal
* Promote tax avoidance which, although not illegal, is not necessarily legitimate
(The question is not one of legitimacy when it comes to this issue — we all know tax avoidance is as legitimate as slavery was perceived to be once upon a time – it is one of ethics, inequality and the appropriateness of creating structures that do not reflect the economic reality of a transaction)
* Permit crime. No government provides this secrecy without realizing that criminals will be attracted to its domain
* Promote living off the proceeds of crime, whether by the bankers, lawyers or accountants who process these transactions, or on the part of the governments and communities they represent
The stronger the economy of a country (tax haven secrecy jurisdictions) the easier to find its products and/or services in more parts of the world, and the easier to put pressure on that country by avoiding to buy any of their “products”.
The PSG FULY supports “Citizens for Action” and is actively canvassing financial advisors and any other companies promoting banking or other financial services based on the Isle of Man, Jersey and Guernsey.
The PSG message is simple. Do not support these islands with either your or any of your client’s money .