Seems there’s a bit of a hoo hah this week about all those rich people and politicians salting their money away in tax havens around the world – which is interesting because many people consider the City of London as quite a good tax haven. But I digress…
People take their money off shore to avoid paying more tax than they have to. Tax avoidance isn’t illegal and let’s be honest if you had the sort of mney we’re talking about here then you’d be doing the same. And don’t tell me you wouldn’t ‘cos you’d be lying. Tax evasion is illegal, but that’s not what we’re talking about.
They’re all at it – even Cameron’s late dad was at it so Cameron cn get off the moral high ground right now! Companies do it all the time. 98 out of the FTSE100 companies do it. Our high street banks are really good at it. They have 1,649 tax haven companies shared between Barclays, HSBC, RBS and Lloyds. Barclays has 174 companies registered in the Cayman Islands alone.
George Osborne says “We must target tax evasion and off shore tax havens. Everyone must pay their fair share.” He fails to understand that tax evasion is illegal, but using an off shore tax haven isn’t. And he’s the bloody Chancellor! He tries to sound good whilst at the same time failing to recognise that the well known tax havens of the Cayman Islands, Bermuda and the BVI are British Protectorates.
Corbyn is no better. He reckons it’s unfair that there are two sets of rules – one for the rich and one for the rest of us. But that makes him a fool because there is only one set of rules. It’s just that most of are not rich enough for need to use them!
Now the shit has hit the fan because a law firm in Panama – one of the most roguish tax shelters – has leaked a load of documents naming and shaming, amongst others, 12 world leaders who have been stashing their dosh away off shore. In Iceland they’re calling for the PM to resign after it was revealed he shifted millions offshore just before the Icelandic banks collapsed. Oops!
Putin has been accused of salting it away, as has the Chinese president Xi Jinping – and he’s supposed to be a proper communist FFS! And one has to ask how much Assad came by legitimately out of the millions he’s moved out of Syria.
Yes, they’ll all give it lip service to keep the ordinary bloke happy and convince the public they’re really, really outraged by it all, but at the end of the day they’re a bunch of hypocrites because they’re all at it…