British Chancellor Osborne and Panama Papers scandal

This video shows a demonstration in Iceland against the corruption of their government which became apparent by the publication of the Panama Papers.

By Lamiat Sabin in Britain:

Osborne scarpers as media quizzes him on tax status

Thursday 7th April 2016

THE Chancellor of the Exchequer dodged a reporter yesterday as he was quizzed on whether he had benefited from funds hidden in British tax havens or would in future.

When questioned by ITV News on air, George Osborne refused to directly answer if he — like Tory PM David Cameron — had been in receipt of untaxed cash.

Mr Cameron’s late father Ian, who died in 2010, owned Bahamas-based Blairmore Holdings Inc, which did not pay a penny in British tax for 30 years. His son partly inherited the firm.

Mr Osborne responded that his business dealings were “declared in the register of members’ financial interests.”

When asked again, he said that the Conservative government had “done more than any other British government to tackle tax avoidance.”

After the reporter suggested that ministers were operating on the basis of “do as I say, not as I do,” Mr Osborne repeated his claim before walking away.

Mr Osborne retains 15 per cent shares in Britain-based posh wallpaper firm Osborne & Little, set up by his father, which has legally paid no corporation tax since 2008.

The PM has also attempted to evade scrutiny by claiming that receiving income from untaxed overseas firms was a “private matter.”

But shadow Treasury minister Richard Burgon said that Mr Cameron’s excuses were “seemingly changing by the hour with four different statements already.

“It’s time for the drip, drip of revelations to end — David Cameron needs to put the record straight once and for all and so does George Osborne.”

21 thoughts on “British Chancellor Osborne and Panama Papers scandal

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  2. Thursday 7th April2016

    posted by Morning Star in Britain

    JOURNALISTS are under threat from draft legislation giving the state powers to hack into their computers and communications, the National Union of Journalists (NUJ) said yesterday.

    The Investigatory Powers Bill, dubbed by some a second Snoopers’ Charter, will be discussed by a parliamentary committee on Monday and the NUJ is calling for amendments.

    “The current proposals contained within the Investigatory Powers Bill justify the state surveillance of journalists and represent a significant threat to press freedom,” said NUJ leader Michelle Stanistreet.

    “The Panama Papers clearly show the importance of ­protecting journalistic communications and sources from state surveillance.”


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  15. Tuesday 5th July 2016

    posted by Luke James in Britain

    ‘Lame-duck’ Osborne sets out plans to cut corporation tax to 15 per cent

    GEORGE OSBORNE was accused yesterday of turning Britain into a “rainy Dubai” after revealing plans to slash corporation tax to just 15 per cent.

    The Chancellor has claimed that Britain must become a “super competitive economy” to survive after Britain leaves the European Union.

    Millionaire Mr Osborne, who could benefit from lower tax as a shareholder of his family’s wallpaper business, told the Financial Times the cut was needed to prove Britain was still “open for business.”

    But opposition parties said the Tory was using the result of the referendum as cover to complete his long-running bid to turn Britain into a tax haven.

    Labour shadow chancellor John McDonnell said: “This is a futile and costly gesture from a lame-duck Chancellor who is clean out of ideas after being forced to abandon his failing flagship austerity programme.

    “Instead of turning the whole country into a giant tax haven and playground for the ultra-rich, the Chancellor needs to get a grip on the real problems by reversing planned cuts to government investment and bringing forward shovel-ready projects for those areas worst affected by the investment slump and the shock of Brexit.”

    Mr McDonnell also suggested that sparking a race to the bottom with European neighbours “undermined” negotiations on Britain’s exit from the European Union.

    Britain’s corporation tax rate has been cut from 28 per cent to a historic low of 20 per cent since the Tories took power in 2010.

    And the Chancellor gave his second successive bung to big business in his latest Budget in March, announcing a cut to 17 per cent by 2020 at the cost of £1 billion to taxpayers.

    That would already leave Britain with the lowest corporation tax rate of any country in the G20 group of economic powers.

    Slicing it further to just 15 per cent would put Britain well below the European average of 20 per cent and EU average of 22 per cent.

    Only Ireland, Bosnia, Bulgaria and Gibraltar have lower tax rates, while Albania, Georgia, Latvia and Lithuania all charge 15 per cent.

    Green MP Caroline Lucas said: “Leaving the EU must not be used as an excuse to make Britain into a tax haven for corporations.

    “Reducing tax receipts yet further means less money available for our economy as a whole. That means less to spend on hospitals and schools and less to invest in the communities that have repeatedly been left behind.”

    Lib Dem Treasury spokeswoman Susan Kramer said the plan would increase alienation that fuelled the vote to leave the EU.

    “Brexit cannot be used by George Osborne as yet another excuse to cut taxes that disproportionately benefit the biggest businesses,” she said.

    “Britain will not thrive by simply turning our country into a rainier Dubai.”

    Tax expert Richard Murphy warned cutting corporation tax again would increase both tax avoidance and increase inequality.

    “Those who can exploit this to avoid tax will be, by definition, those in the wealthier part of the population,” he wrote on his blog.

    But he added that Mr Osborne’s plan was the “last desperate” gesture of a Chancellor who is unlikely to survive until the next Budget.

    “Without any indication as to when this will happen it is virtually meaningless,” he wrote.

    “It is also something of a hollow gesture when the chance that Osborne will be Chancellor in September looks to be very remote indeed.”


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