Local view for "http://purl.org/linkedpolitics/eu/plenary/2016-04-12-Speech-2-889-000"
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"en.20160412.44.2-889-000"2
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"Madam President, the debate on the Panama Papers has so far focused on corrupt politicians and downright criminals who have hidden their wealth or laundered money. But at the heart of this scandal are the British overseas territories, and they are crucial to the global network that facilitates tax avoidance. More of half of the companies that appear in the files – 113 000 in total – are registered in the British Virgin Islands. It is the relationship between these overseas territories and the City of London that facilitates tax avoidance by the wealthy.
David Cameron has sought to portray himself as the champion of tax transparency. Yet we have seen him personally intervene to water down provisions to control money laundering and to exclude the very sort of trusts that we now know he has benefited from. By enabling tax avoidance by the wealthy, the legal limbo-land of British overseas territories is depriving us of public revenue at the very time when the NHS is showing record debts and services to the disabled and vulnerable in my country are being slashed. So much for the slogan: ‘we are all in this together’."@en1
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