In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘City of London’

Hammond threatens EU with aggressive tax changes after Brexit

Posted by seumasach on December 15, 2018

It is clear now that the meaning of this statement has to be revisited in the light growing American hostility to UK financial interests culminating in Trump’s election and  embodied in his tax reforms, and the growing campaign to render British Overseas Territories more transparent finally concretised in 2018 legislation. Dodgy financial operations are not only under threat by EU regulations but by US competition. and have been for some time. Hence the need for a deepening of the City of London’s role as a haven for illicit money flows.

Guardian

15th January, 2017

The chancellor, Philip Hammond, has suggested Britain could transform its economic model into that of a corporate tax haven if the EU fails to provide it with an agreement on market access after Brexit.

In an interview with the German newspaper Welt am Sonntag, Hammond said that if Britain were closed off from European markets after leaving the EU, it would consider abandoning a European-style social model with European-style taxation and regulation systems, and “become something different”.

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‘Dirty money’: U-turn as Tories back plans to make tax havens transparent

Posted by seumasach on December 15, 2018

“The disclosure measure had originally been proposed by David Cameron and George Osborne in 2013, but the commitment was dropped when May became prime minister, prompting Hodge and Mitchell to act in concert to get the measure on the statute book.”

Interesting that the UK government has acted against these tax havens although they still have the Isle of Man and the Channel Islands. May, then, is a safe pair of hands as far as City interests are concerned and, by the look of it, not a closet Remainer.

Guardian

1st May, 2018

Britain’s overseas territories will be forced to adopt public registers of company ownership at the end of the decade after the government conceded it would have to support a backbench amendment designed to stem the global flow of “dirty money”.

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The myth of the Offshore: How Africa lost $1 Trillion to tax havens

Posted by seumasach on December 15, 2018

New African

6th January, 2017

For over 40 years, African countries have been haemorrhaging more money than they receive in aid and foreign investment. 80 per cent of these illicit financial flows are siphoned through London, giving the lie to the idea that tax havens function independently. Over the last decade alone, $1 trillion of African money has been squirrelled away into secret jurisdictions, with the full knowledge of Western governments. Khadija Sharife has spent a year examining the Panama Papers and now reveals the inner workings of a monumental scandal.

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The City of London’s strange history

Posted by seumasach on December 11, 2018

Maurice Glasman

Financial Times

29th september, 2014

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Posted in Constitutional change in Britain | Tagged: | Leave a Comment »

 
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