The Panama Papers are the biggest ever data leaks in history – and this time they’re unmasking the secrets of the unfair tax system, revealing a multi-billion dollar trail to the secret tax havens where the rich and famous stash their fortunes.
Every year the poorest countries in the world lose out on $170 billion of vital funds because tax dodgers are stashing their cash in tax havens. We believe it’s a dirty, dodgy scandal and a form of corruption that’s making extreme inequality worse.
PM David Cameron. Photo courtesy www.telegraph.co.uk
If the Prime Minister is serious about tackling corruption, he needs to make tax dodging a top priority when world leaders meet at the international Anti-Corruption Summit in London.
Some of the biggest tax havens are UK territories like Bermuda and the Cayman Islands. These places rely on secrecy to prop-up corruption and tax dodging. In 2013, the governments of these territories made a personal promise to the Prime Minister to introduce reforms that would make them more transparent. Three years later, they’ve barely budged an inch.
It’s hugely embarrassing for David Cameron.If he wants to be the leader who took on corruption, he must use this summit to demand the Overseas Territories and Crown Dependencies publish lists of who exactly they’re helping to hide money.
We need as many voices as possible calling out for action on tax havens at the Anti Corruption Summit. And that’s where your MP comes in.
With enough pressure in Parliament, we can make sure David Cameron puts tax at the top of the agenda of the summit. It’s time for change – the Prime Minister needs to make this Anti Corruption Summit count and help end the era of tax havens. Article courtesy https://act.oxfam.org
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