Millionaire Chancellor George Osborne announced plans at the weekend to clamp down on offshore tax evasion — after four years of failing to act on past pledges.
A year before the 2015 polls, the Tory mooted plans to allow HM Revenue & Customs to prosecute people who do not declare their foreign income, even if they did not deliberately intend to avoid payment.
He floated the idea, subject to public consultation, at an International Monetary Fund meeting in Washington.
It is already a criminal offence not to divulge offshore income.
And Mr Osborne is currently pushing ahead with plans to cut more than 10,000 jobs from HMRC by 2016.
Tax Justice Network’s Richard Murphy said: “This looks very much more like a PR exercise than it does to be a serious attempt to tackle offshore tax abuse.”
And Mr Murphy pointed out that Mr Osborne had gone “out of his way to encourage” the most serious tax abuse — the use of offshore tax havens by transnational companies.
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by joining the 501 club.
Just £5 a month gives you the opportunity to win one of 17 prizes, from £25 to the £501 jackpot.
By becoming a 501 Club member you are helping the Morning Star cover its printing, distribution and staff costs — help keep our paper thriving by joining!
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by become a member of the People’s Printing Press Society.
The Morning Star is a readers’ co-operative, which means you can become an owner of the paper too by buying shares in the society.
Shares are £1 each — though unlike capitalist firms, each shareholder has an equal say. Money from shares contributes directly to keep our paper thriving.
Some union branches have taken out shares of over £500 and individuals over £100.
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by donating to the Fighting Fund.
The Morning Star is unique, as a lone socialist voice in a sea of corporate media. We offer a platform for those who would otherwise never be listened to, coverage of stories that would otherwise be buried.
The rich don’t like us, and they don’t advertise with us, so we rely on you, our readers and friends. With a regular donation to our monthly Fighting Fund, we can continue to thumb our noses at the fat cats and tell truth to power.
Donate today and make a regular contribution.