No wonder Cameron protected offshore trusts from the EU. Taxing earned and unearned income the same would atomize this link between privilege and powerYet another secret is out: while David Cameron promised tax transparency,he was privately preventing EU moves to force open secretive trusts, in which Britain uniquely abounds. He protested against “£122bn of property in England and Wales owned offshore bought with plundered or laundered cash”, or yet time and again it emerges that the prime minister was blocking EU clean-up efforts. Currently he has stopped the blacklisting of our offshore treasure island havens,where the Panama Papers reveal so much untaxed dosh is stashed. The papers have opened up so many other secrets too. Related: Cameron stepped in to shield offshore trusts from EU tax crackdown in 2013 Continue reading...
Source: theguardian.com