Monday, 23 July 2012

£20TRILLION -- NOW £36TRILLION IN TAX HAVENS 2012 Updated 31 March, 2017

Update 31 March, 2017
It is now assumed that Tax Havens could have as much as a staggering £90trillion. Even to retrieve half of the previously £36trillion would cancel the national deficit, rescue NHS, schools, cancel poverty, starvation and homelessness. What is the use to have these huge amount of money sitting there?

Updated 6 Nov., 2016 --
The new PM Theresa May already spoke about prosecuting Tax Avoiders but will it be another empty promise. After all the big ones are mostly Tory's donors and the money is mostly in British Isles. 

It most probably almost doubled or even trebled again by now and David Cameron still keeps promising, since 2010.

If Prime Minister David Cameron and Chancellor George Osborne would bring back only half the amount which is in Tax Haven it would wipe out the debts of Britain and show a great improvement in the economy and live of the people.  

The Fatcats would still have enough besides there are mostly their friends so what keeps Cameron from not to fulfil his promise to get firm with Tax Avoiders. It is because they are his friends and they would stop donate to Tory's coffers.  He let them take out £16trillion within two years and Osborne shouting about more Austerity and cut backs.  What about Austerity where it should be enforced?


UPDATE:   23 November, 2014  --  The quoted £20trillion was in 2012 now with the great jump shown in the Telegraph Rich List it is nearing to £36trillion. Chancellor George Osborne announced that a new law will be passed through the House of Parliament. It will prosecute any Tax Avoiders who had deliberate avoided to pay tax.  This new law seems to have too many back doors. Beside tax avoidance was always a criminal offence.  Where is the difference apart from trying to look impressive. 

UPDATE: 9 December 2012  --  So far it is known that the Treasury prosecuted only one person of tax evasion out of 6000 cases. The public demands to name and shame them but the Treasury refuses to give the list of names, giving the excuse of privacy of taxpayers. These people are not tax payers but tax avoiders and therefore should not have the protection. PM David Cameron himself condemns it yet he does nothing about it. WHY? If the Treasury can prosecute one person they can do so the rest of 5,999 cases.

UPDATE 3 OCTOBER 2012 --  Has this government attempt to retrieve it since they revealed it themselves that there are £20trillion in tax havens? Surely everybody knows the answer.

A new research did find that the Super-Rich Global Elite have banked £20trillion in tax havens. No doubt there could be more which had not been discovered or accounted for.

Since the Prime Minister David Cameron had contempt the tax havens and people who using it will he stand by his words to bring them back to justice?

James Henry, who compiled the numbers for the Tax Justice Network, said: “The lost tax revenues are huge and enough to make a significant difference to the finance of many countries.”

He also discovered that the cash was moved around through an “industrious bevy of professional enablers”.  That man must be genius to be able to trace this money because these are highly professionals in every way.
It is now down to the Prime Minister to use this information especially since he brought in a new law of Tax Avoidance Clampdown. It was launched by Treachery Minister David Gauke. It had been linked to a Tory donor who was ordered to pay up £2million.

Another case was Hedge fund boss George Robinson who was ordered to pay his taxes on a Guernsey-based trust. He set it up but the judge ruled it was artificial

Well so far so good but will they pay up and only being ordered as it is the fashion of those big boys? Also will it be carried on and out sufficiently and not after a while slump into the back ground to be forgotten quietly? It seems the way when the big boys are up against it.  The same with the Libo interest fiddle which wasn’t a fiddle really but a fraudulent crime. When details start to emerge that even the Bank of England knew about it four years ago it died a sudden death because there would have been people in the top tree come to a fall. Under pressure the Prime Minister eventually agreed to an investigation but banned the two hardest inquisitors.  W H Y?

 Your thoughts and answers are as good as anybodies.

Nothing been heard of as it is the usual case.  The Prime Minister and the government has all the power in their hands to make them pay the outstanding tax back since there is prison for TAX EVASION. They imprison others well known people so why not retrieve £20 TRILLION?

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