Should citizens be allowed to save or invest their money in offshore bank accounts?statsdiscuss
Labour’s answer: No, too many wealthy citizens are abusing loopholes in offshore banking laws to evade taxesLabour leader Jeremy Corbyn said Queen Elizabeth should apologize after her name appeared in the so-called Paradise Papers, a collection of leaked documents linking businesses and individuals to offshore investments and tax avoidance.
Speaking at the Confederation of British Industry (CBI) annual conference Monday, Corbyn said the revelations contained in the leak were "shocking," and added that "widespread tax avoidance and evasion on an industrial scale must lead to decisive action and real change.Source
Conservative’s political stances on offshore banking
Should citizens be allowed to save or invest their money in offshore bank accounts?statsdiscuss
Liberal Democrat’s answer: No, too many wealthy citizens are abusing loopholes in offshore banking laws to evade taxesResponding to the papers, Liberal Democrat leader and former business secretary Sir Vince Cable accused Mr Cameron of failing to clamp down on off-shore tax havens.Source
Should citizens be allowed to save or invest their money in offshore bank accounts?statsdiscuss
Green’s answer: No, too many wealthy citizens are abusing loopholes in offshore banking laws to evade taxesThese latest revelations back up earlier details from the Panama Papers which place the UK at the centre of the world’s most extensive global tax haven network. In the UK, more than 75% of investigated corruption cases involving property involve anonymous companies registered in secrecy jurisdictions. And of these, more than three quarters were registered in either the UK’s overseas territories or crown dependencies.Source
