UK politicians publish tax returns in bid for transparency after Panama Papers

[webfact]

UK politicians publish tax returns in bid for transparency after Panama Papers



LONDON: -- Politicians in Britain are rushing to publish their tax returns in a bid for transparency amid the fallout from the Panama Papers.

David Cameron made history on Sunday, becoming the first British leader to reveal the details of his income after it was revealed he had owned a stake in his late father’s offshore fund.

Some have questioned the gesture, as any supposedly secret finances wouldn’t be declared to HMRC.

Defending his financial affairs to parliament, Cameron said that wealth and aspiration are not dirty words, and announced new measures to rein in tax avoidance, particularly in British crown dependencies considered tax havens.

“For the first time, UK police and law enforcement will be able to see exactly who really owns and controls every company incorporated in these territories. Cayman Islands, British Virgin Islands, Bermuda, Isle of Man, Jersey, the lot.”

Though not illegal, opposition leader Jeremy Corbyn, questioned the morality of offshore investments.

“There is now one rule for the super rich and another for the rest. I’m honestly not sure Mr Speaker that the Prime Minister fully appreciates the anger that is out there over this injustice.The truth is that the UK is at the heart of the global tax avoidance industry, it’s a national scandal and its got to end.”

The prime minister’s approval rating dropped below Jeremy Corbyn’s for the first time over the weekend, with 58% of people surveyed casting doubt over Cameron’s ability to run the country.

-- (c) Copyright Euronews 2016-04-12

[koolkarl]

Tax returns don't show unreported income, pay offs, stolen money or other nice dealings.

And where is full list of names on Panama papers? (no one will see to protect many governments)

[meltingpot2015]

Cameron said that wealth and aspiration are not dirty words

It dosen't matter what political party you support. Everyone (except criminals, money launderers.....) agree we should pay our taxes.

Edited April 12, 2016 by meltingpot2015

[Thaddeus]

Tax returns don't show unreported income, pay offs, stolen money or other nice dealings.

And where is full list of names on Panama papers? (no one will see to protect many governments)

Quite, displaying your tax return for all to see means nothing.

All politicians should be made by law to provide full disclosure of all their assets, any investigation finding they have lied, fired and banned from politics for life.

[eastendanto]

The law of the land says that tax avoidance is legal and that tax evasion is not legal. I don't see other european leaders showing their tax returns to the general populace or for that fact any of our very own Brussels based MEPs on that never ending gravy train... in fact as quite rightly pointed out in previous posts if there were items of tax evasion involved do you think that anyone of a sane disposition would declare such on their tax return!!

I still find it strange that the law states that tax avoidance is legal and our very own MPs who have been brought to declare in public still go on about big corporates who practice tax avoidance as morally wrong!! Get a life ...you made the laws and had them put in force, either change the law (and watch these companies downsize in our country in droves and find another tax friendly country in which to hire people) or suck it up same as Joe Public sucks up all your preacherman rhetoric "do as I say" and not "do as I do".. Let them eat cake!!!

Edited April 12, 2016 by eastendanto

[arjunadawn]

As stated in another thread on the Panama Papers, the real story is the back story; who/why? Cui Bono? Its so apparent that the US is the most likely party behind this. The troubling question persists "Why then the UK?" Well, the question assumes a false positive; that the US under Obama is a stalwart British fan. Since the operating principle of Obama/Emmanual/HRC is "never let a crisis go to waste" one should look quite closely at Obama's initial comments following the release of these papers: http://www.usatoday.com/story/news/politics/2016/04/05/obama-calls-congress-fix-corporate-inversions/82652238/ http://uk.businessinsider.com/obama-panama-papers-tax-reform-inversions-2016-4?r=US&IR=T

But there is more: Obama was joined his is chorus calling for (global) tax reform (Read: more power to supranational entities). http://www.theguardian.com/business/2016/apr/11/panama-papers-imf-christine-lagarde-global-tax

When are the people of America, indeed the world, going to stop eating these shiiite sandwiches, fed to them one bite at a time? Of course this was a State sponsored leak designed to empower passage of political agenda. The below observer suggests the UK was accidentally caught up in the release. Wrong! US and friendlies were scrubbed from the release. The absence of US folks is actually deafening; but not so for UK.

It was intentional. The UK now scrambles to offer tax returns is of course pointless and really offers little relevant to the problem. Sadly, what it does is create a platform for the very efforts Obama & Company wish internationally- an argument for supranational money monitoring and taxation, and create an avenue of attack for one specific US candidate. The past 8 years have been chock full of designed crises.

http://www.cnbc.com/2016/04/12/swiss-banker-whistleblower-cia-behind-panama-papers.html