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We have tax havens to thank for rising levels of global prosperity
David Marchant
Posted: Thursday, June 7, 2018
Joined: 9/13/2007
Posts: 1278

City AM: Would the world be a better place if offshore finance didn’t exist? Shadow chancellor John McDonnell doubtless thinks so, believing that the tax planning these jurisdictions make possible only hurts other countries. Yet a look at the evidence might surprise him. There is ample reason to venture that the unprecedented rise in living standards and the related decline in global misery since 1980 couldn’t have happened without offshore financial centres, less charitably known as “tax havens”.

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Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
David Marchant
As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.