Monday, October 21, 2013

Quote of the day - Britain's Fawlty Towers approach to tax havens

From Britain's Independent Newspaper, in a story from May, remarking on Britain's :
David Marchant, the owner and editor of OffshoreAlert, was scathing about the authorities' efforts to close down the saga. "David Cameron talks tough about clamping down on offshore tax. But he already has the framework for the Turks and Caicos Islands; he could literally take over these jurisdictions overnight. Only in Britain could this nonsense happen. People are infected with this peculiar Fawlty Towers way of conducting business. It's breathtaking."
Quite so. Britain has the authority to close down a huge part of the global offshore system of secrecy jurisdictions. More from us on this subject - a whole lot more - very soon.


Anonymous Anonymous said...

Mr Marchant has missed the point spectacularly. It was the British Governor — not the Cayman Islands' own elected politicians — who was implicated in this potential scandal. So his solution to an allegedly corrupt British overlord is to suspend democracy and put the islands under the direct control of more British overlords? A simply astounding logic fail.

6:11 am  

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