Tax Haven Woes – Feel Your Champagne life Style Threatened!

NEWS FROM THE CELTIC LEAGUE

Catherine Turner (her of TURNERGATE) has appeared to ameliorate her position somewhat clarifying what she said in the BBC TV programme and reiterating her views were personal.

However whether her words were ‘lost in translation’ or not on the hierarchy in Liberal Vannin she restates the fundamentals about our ‘squeaky clean’ no longer the ‘wild west’ finance industry aka ‘a low tax jurisdiction’.

She says:

“We’ve put in place laws and regulations that mean we can claim compliance, claim legitimacy and transparency, but still abuse the rights of people in other countries to benefit from the taxes arising from economic activity.”

She could yet however turn out to be squarely on the right side of this argument as an article in the Belfast Telegraph today highlights the harm ‘squeaky clean low tax jurisdictions’ are doing around the world (see link):

https://www.belfasttelegraph.co.uk/…/shameful-inequality-mus…

An Oxfam report is quoted which says:

“At the Lough Erne G8 in 2013 David Cameron promised a crackdown on shell companies – vehicles for business transactions without themselves having significant assets – to avoid tax.

The UK has fulfilled that promise, but so far only one overseas territory and not a single Crown dependency has followed suit.

Tax-dodging by multinational corporations costs developing countries at least $100bn every year, denying them the resources they need to tackle poverty, educate children and stop citizens dying from easily curable diseases.”

There is something contradictory about our ‘country’ pontificating about how well its doing in the world and shelling out overseas aid whilst at the same time an element of our economy is founded on exploiting that third world people our government is ‘assisting’.

What were those words in that famous quote of Abraham Lincoln ‘the base alloy of hypocrisy’?

The shelves of our supermarkets bulge with products labelled ‘fair trade’ and yet the truth is our attitude to the countries that produce these products on subsistence incomes is schizophrenic. Aid one day (usually with a big fanfare), ‘Beggar my neighbour’ the next day, more covert and usually conducted in the ‘sneaky corners of Athol Street and its environs’.

Before you rush to join the lynch mob to ‘burn the witch’ who used the ‘H’ word ask yourself something. Who has this offshore ‘low tax jurisdiction’ benefited?

If you are on the minimum wage or reduced benefits with your pension threatened and facing excessive living charges has thirty plus years of the finance sector stood you in good stead? I get about quite a lot and I don’t see many people with a champagne life style – unless of course it’s Allan and the business glitterati leering out of the pages of the press clutching a wine glass!

No it has disproportionately benefited and continues to benefit the corporate slugs! The friends of Allan Bell!

BERNARD MOFFATT

Issued by: The Celtic News

25/01/16

THE CELTIC LEAGUE INFORMATION SERVICE.

The Celtic League established in 1961 has branches in the six Celtic Countries. It promotes cooperation between the countries and campaigns on a range of political, cultural and environmental matters. It highlights human rights abuse, military activity and socio-economic issues

https://celticleague.net

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