David Cameron

Panama Papers: British Tax Havens

Panama Papers: British Tax Havens

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12 signatures until 200

Yesterday, the Panama Papers shockingly revealed how the richest in our society are hiding billions of dollars through secretive offshore tax regimes.

Huge amounts of money are being moved offshore to British tax havens like the Cayman Islands and the British Virgin Islands.

Sadly, that’s not it. The UK itself has also been named by the Panama Papers as one of the top ten popular tax havens named in the Panama Papers.

While the rich get richer from not paying tax to our economy, the rest of us are bearing the burden of cuts to services to education and the NHS.

But this could change everything. The Panama Papers are already drawing worldwide attention to the glaring gaps in our laws that allow this massive inequality to continue. If we can pile on the pressure, we could force David Cameron to deliver real reform at his major summit on offshore issues, happening in just under a month.

Sign the petition: tell David Cameron to crack down on tax havens now.

The Panama Papers are an unprecedented leak of millions of files from the database of Mossack Fonseca, the world’s fourth biggest offshore law firm, at the centre of helping the rich stop their wealth from being taxed.

Our government has done next to nothing about tax havens even though four years ago, David Cameron publicly vowed to crack down on them.

Tax havens are legal, but they’re destroying our society. If the richest people in our world aren’t paying tax, then we don’t get basic public services. The result is rampant inequality, and a massive transfer of wealth from people who need it most to the richest.  

In June, a central register that identifies the beneficial or “significant” owners of UK companies is being introduced. But we don’t know yet whether this will also apply to offshore companies.

Clearly, our government needs to do more.

The SumOfUs community has been at the forefront of clamping down on tax dodging. Because of SumOfUs members like you, we’re pursuing a groundbreaking case against HSBC for helping Britain’s richest evade tax. And for this, we made front page news. If we’re going to stop this from happening, we need to bolster our legal framework now.

Sign the petition: tell David Cameron to crack down on tax havens now.

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