Britain: Three Tax Avoidance Schemes and you’re out, Cameron
by DOWLING Felicity
Cameron has tried – but failed – to distance himself from the Panama papers, says Left Unity Principal Speaker, Felicity Dowling.
The recent revelations and admissions show that he has dissembled the sources of his wealth. He has profited from offshore banking, inheritance tax management and the tax avoidance schemes that are the preserve of the very rich. He has criticised others for tax evasion but now the mask has slipped and his hypocrisy is exposed. He is revealed for what he is: both a beneficiary and an agent of extreme class privilege. And while profiting himself he has driven forward the most savage attacks on working people and the poorest in our society.
The Panama papers show clearly that offshore banking and the complex system of tax evasion have been carefully constructed by the very rich and their political representatives. They have been developed and established over years, in law and in tax regulation. And it is not something confined to corrupt individuals and regimes elsewhere – as some would have us believe. Britain is at the very heart of it: the whole legislative framework of the Virgin Isles, laws in the Channel Islands and in the Isle of Man and more. Tax minimisation lawyers have been “consulted” by HMRC while tax collection employees have been reduced in numbers.