Bankers say urgent action needed for London profit losses
In this podcast, the Tax Justice Network asks ‘Why is the City of London losing so much business to New York, Hong Kong and Singapore?’
The Tax Justice Network arrives at conclusions that are quite different from those of a British Bankers Association report on the subject. Plus: the crazy British-China nuclear power station deal: a sweetener for closer ties between the two nation's financial sectors? One year after #LuxLeaks exposed some of the cosy tax deals being done between tax authorities and transnational corporations we ask how many more 'illegal state aid' deals might have been done? Plus we have a special focus on the results of the latest Financial Secrecy Index 2015 released this month: we look at the top ten worst offenders and ask what can be done about them.
'If the [European Union] doesn't want the US to become the mega tax haven of the 21st century it should start taking serious action to bring the US back to the negotiation table'.
~Markus Meinzer, Tax Justice Network.
‘It's easier to incorporate a shell company in the US than it is to get a driver's licence or even a library card in many states.’
~Clark Gascoigne, FACT Coalition
'I can only imagine what is driving it [the British-China nuclear deal] is this determination to put the City of London's interests ahead of all of Britain's interests, including security interests.'
~John Christensen, Tax Justice Network
Featuring The Tax Justice Network's Financial Secrecy Index research coordinator Markus Meinzer and Tax Justice Network director John Christensen, Deputy Director of the FACT Coalition Clark Gascoigne.
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