The Paradise Papers expose a business model that lets the few asset-strip the many. Governments enjoy powerful tools to finish this – but do they enjoy the will?The Paradise Papers has revealed that the amount of money being stashed “offshore” by the UK’s super-rich is greater than we had previously thought. At the same time,the government has launched an inquiry into rising household debt, as the UK’s borrowing reaches levels final seen before the global financial crisis. How is it that a tiny sliver of the population can be banking absurd slabs of wealth while the majority of us recede deeper into the red? Related: Tax avoidance may be legal but its bankrupting our social order | Owen Jones Continue reading...
Source: guardian.co.uk