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With corporate tax evasion featuring heavily in the news lately, little is being said about the system that makes it all possible: tax havens. One of the biggest and most important is the City of London, the hub of the global tax haven system through which billions of the world's stolen wealth flow every day. That's why it's being called the Tax Haven Capital of the World.
Read the full statement below, which we'll publish in a major UK newspaper, and add your name to show your support for the citizens of the UK telling David Cameron to clean up his own backyard and stop stealing the world's wealth.
- Citizens of the UK
You might have heard recently how multinational corporations like Amazon and Starbucks have made huge profits in Britain but are paying almost zero tax, with an estimated $140 billion being taken out of Britain and into secret tax havens. But Britain is not alone. At least $750 billion is being siphoned out of the poorest nations, which means they lose at least $100 billion in tax revenues every year.
Investigations have shown the money trails don’t start in tax havens like the Cayman Islands or Jersey, they often start in the City of London. Your Prime Minister David Cameron has promised action to stop the tax cheats, and he's in a powerful position to do so. But he hasn’t said a word about the Tax Haven Capital of the World: the City of London Corporation itself, whose bank accounts are secret thanks to special Freedom of Information (FOI) exemptions.
We stand with you in calling on your Prime Minister to clean up his own backyard and stop stealing the world's wealth by ending the FOI exemptions for the City of London.
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