Month: August 2012

25 posts
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World economy: £13 trillion hidden from tax by super-rich

A sum of money the size of the US and Japanese Gross Domestic Product (GDP) together is being held in offshore tax havens. This enormous hoard could immediately pay off most of the deficits and debt that are being used to justify austerity, and create millions of jobs. Instead it sits in places like the Cayman Islands, making the tax dodgers that put it there even richer.

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If they take one non-payer to court they take us all

According to the government, after their three threatening letters, they plan to then summons to court those still not paying. They know hundreds of thousands will call their bluff on the letters. They fear that if there are still hundreds of thousands of non-payers next year, non payment can rise, destroying all home tax plans. With no automatic punishments or fines without court appearance, cases against non-payers this autumn therefore seems likely.