Posts under ‘Taxation’

What the 3 main parties aren’t telling you: a radical way out of austerity

by Michael Meacher.

On budget day this Wednesday (18 March), I and 16 other contributors are launching in the House of Commons our book What the Three Main Parties are not Telling You: A Radical Way out of Stagnation and Inequality as a counter-blast to Osborne’s demand for another 5 years of austerity. Mariana Mazzucato refutes the conventional […]

Corporate tax dodging is father of austerity

by Michael Meacher.

Industrial scale tax evasion and avoidance is not only symptomatic of the insatiable greed of the hyper-rich and the over-mighty corporations, it also serves another purpose which is much less recognised. The touchstone of the neoliberal ideology is globalisation – let the markets be all-powerful and governments get out of the way. That is served […]

The great Spanish corporate tax dodge

by Tom Gill.

Spain’s biggest companies have greatly increased their presence in tax havens, with the number of subsidiaries established in these tax-lite territories up 44% during 2013, the worst year in the country’s economic crisis. The IBEX35 companies upped the number of branches in tax havens from 561 to 810 during that year, new research finds. Financial […]

Non-doms: this extra scam for the ultra-rich must be abolished

by Michael Meacher.

One of the scams highlighted by the HSBC Swiss bank scandal, and then quickly ignored, is the continuing absurd anachronism of the non-dom rules. Stuart Gulliver, the shamed CEO of HSBC, though living in London in order to run the second largest bank in Europe and routing his bonus through a Panamanian company to escape […]

Worse than the tax evasion is the stench of class society

by Michael Meacher.

There could hardly be a more poignant vignette of Britain today than the hidden truths revealed by the HSBC Swiss bank. Five years after this colossal tax evasion and avoidance scam was known to the UK authorities, there has been 1 prosecution. At the same time, in just one of those 5 years (2013), no […]

Tories aren’t against tax dodging, they believe in it – just don’t get caught

by Michael Meacher.

Osborne’s studied silence over this last week speaks volumes. If the issue were anything else but tax evasion and avoidance, he would be seeking to find an angle to turn it against Labour for all he’s worth. But on tax avoidance he’s skewered. It was on his watch that no action was taken when news […]

HSBC: Ministers who lie or refuse to tell the truth should be made to strand down

by Michael Meacher.

The lies, mis-statements and blatant evasions over the HSBC Swiss bank are beginning to build up. We were initially told that no Minister had any knowledge of wrongdoing at HSBC Suisse until this last week. This has now been contradicted by several different sources. Lin Homer, the besieged and rather ineffective head of HMRC, told […]

Why are US, France & Belgium starting prosecution against HSBC but not the UK?

by Michael Meacher.

The evidence of wrongdoing published this week against HSBC Suisse is so overwhelming that formal investigation prior to prosecution might seem a foregone conclusion. It is indeed already happening in the US, France, Belgium, Spain, even Argentina. But not in the UK, even though HSBC is a British bank. So why the reluctance of the […]

Downing Street, bankers and tax dodgers close ranks over HSBC Swiss bank leaks

by Michael Meacher.

The revelations of greed and cynical immorality, with the ex-clergyman Lord Green topping the bill, keep pouring out of this HSBC Swiss bank scandal, one of the biggest of the last few decades since this is probably only the tip of the iceberg on bank wrongdoing in this no-holds-barred era of crooked capitalism. The facts […]

How we should get tougher on the tax cheats

by Michael Meacher.

The revelations in the Guardian, BBC Panorama and elsewhere are truly staggering. It shows how a HSBC-owned private bank in Switzerland actively colluded with hyper-rich clients to enable them to avoid EU taxes, to conceal undeclared ‘black’ accounts from their domestic tax authorities, to help them withdraw bricks of cash in foreign currencies so as to launder […]

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