Press Release: UK Uncut demand government reject Lord Fink’s call for UK to become a tax haven and take urgent steps to prevent billions being lost through tax avoidance

Posted on Fri 21st Sep 2012, 1:54pm
UK Uncut demand government reject Lord Fink’s call for UK to become a tax haven and take urgent steps to prevent billions being lost through tax avoidance

FOR IMMEDIATE RELEASE

Press enquiries: UK Uncut – Tel: 07415063231 | Email: ukuncut@gmail.com

UK Uncut, the anti-cuts direct action group, today demanded that the government immediately reject Lord Fink’s proposals for the UK to weaken its tax laws and turn the country into a tax haven.1

The anti-austerity group called on Chancellor George Osborne, who recently described tax avoidance as ‘morally repugnant,’ to outline how he will stop rich individuals and corporations from using tax havens and other abusive tax avoidance measures.2

The government’s failure to properly crack down on tax avoidance is again in the spotlight as further revelations have emerged of how a super-wealthy elite continue to avoid billions in tax at a time of unprecedented and unnecessary public spending cuts.

An investigation by the Times this week found that more than 2,000 Britons in Monaco are costing the UK economy £1billion a year in lost tax revenue.3

UK Uncut spokesperson Anna Walker said “Tax avoidance costs the UK £25billion a year- we must get this money back so that we can invest it in our vital public services. If the government clawed back the tax money that is owed we wouldn’t need the damaging and unfair cuts that are hurting ordinary people’s lives. David Cameron and George Osborne have described tax avoidance as ‘morally wrong’ and ‘morally repugnant’- it’s high time they stopped rewarding tax dodgers and instead took immediate action to close tax havens and stop tax avoiders ripping off this country.”

Notes for editors:

1. Lord Fink, who is a director of three firms which have subsidiaries or a parent company in the Cayman Islands, Luxembourg and Guernsey, said: “I don’t see why the UK should not compete for jobs that at present are going to the Cayman Islands. I lobbied George Osborne when the Tories were in opposition. I have long felt that the British government loses jobs to tax havens by allowing the Revenue to have these rather archaic rules.”

www.guardian.co.uk/business/2012/sep/20...

2. George Osborne, Budget statement March 2012, ‘I regard tax evasion and – indeed – aggressive tax avoidance – as morally repugnant.’

www.hm-treasury.gov.uk/budget2012_state...

3. A report in the Times newspaper (20/09/12) outlined how 533 directors of UK companies have registered addresses in Monaco. Despite vetting by HMRC, the government has still seen fit to award several tax exiles with honours. These include the billionaire Sir Phillip Green- who avoided £285million in capital gains tax in 2005. UK Uncut activists have repeatedly targeted Green by occupying branches of his Arcadia fashion empire.

ukuncut.org.uk/targets/3