David Cameron has accused some British overseas territories and crown dependencies of not doing enough to tackle tax evasion and money laundering.
But shouldn’t we be asking, after more than five years, why David Cameron’s government has not done enough to tackle tax evasion and money laundering?
Why do we have a tax gap of anything up to £120 billion a year? Recovering that money would clear the national deficit at a stroke and make huge inroads into the national debt – and it is money that legally belongs to the UK government.
David Cameron and his Chance(llo)r, George Osborne, have been extremely relaxed about collecting it from the fatcat businesses and individuals who can afford to bank their money offshore, preferring instead to lean hard on the poor – and hardest on benefit claimants, one of whom, it has been shown, died because of the policies of Cameron’s government.
Now we’re being given this:
The prime minister took the offshore financial centres to task on Wednesday during a trip to the Caribbean and said not enough progress was being made towards transparency.
Over the past few years, Cameron has repeatedly urged territories such as the Cayman Islands and the British Virgin Islands to introduce central public registers of company ownership, thereby allowing law enforcement agencies to trace criminals behind firms that are currently anonymous.
This has met fierce resistance among some territories and Grant Shapps, a Foreign Office minister, appeared to backtrack on the UK’s requests for a central register during a trip to the Cayman Islands over the summer.
Is it good enough?
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