£13 TRILLION HIDDEN FROM TAXMAN

Here’s another ‘rich people pay less tax than their cleaners’ story, this one from today’s Observer. The question you have to ask is: why doesn’t our government close these tax loopholes? Is it because they can’t or is it because they lack the political will? Think about that!

Here’s the story:

A global elite of ‘super-rich’ is hiding at least £13 trillion from the taxman by using the offshore economy, according to a new study reported in The Observer. The campaign group Tax Justice Network‘s research found that “enablers” from private banks have helped channel the money into secretive jurisdictions such as Switzerland and the Cayman Islands.

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