Poverty Is Man Made
UK-linked tax havens
are the biggest G8 culprits
People using tax havens are depriving the world of
more than $150 billion (£100bn) in lost revenue, enough money to end extreme
poverty twice over, according to new figures published today by Oxfam.
A high proportion of this
tax dodging is taking place on David Cameron and George Osborne's watch. Of the
$18.47 trillion (£12tn) that Oxfam estimates is being held by individuals in
tax havens around the globe, over a third - $7.18 trillion (£4.7tn) - is
sitting in accounts in British Overseas Territories and Crown Dependencies.
Despite the fact a deal was done earlier this month to get some of these tax
havens to be more transparent and share tax information, and David Cameron's
letter to Overseas Territories and Crown Dependencies this week, there is no
tax deal on the table that will benefit poor countries who are struggling to
reclaim the billions of pounds they are owed.
Ron Payne
Welfare Legal
Hamilton, Ontario
Email welfarelegal2004@hotmail.com
Blog http://welfarelegal.blogspot.ca/
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