How will wealthy Brexiteers profit from Brexit? The surprising truth about the world’s most secretive tax network for the wealthy.
Plus, we hand the Brexit Party a rather unfortunate award.
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The Financial Secrecy Index ranks jurisdictions according to their secrecy and the scale of their offshore financial activities. A politically neutral ranking, it is a tool for understanding global financial secrecy, tax havens or secrecy jurisdictions, and illicit financial flows or capital flight.
Immigrants contributed £20bn to the UK between 2000-2011, paying 64% more in taxes than they received in benefits.
Study by UCL Professor Christian Dustmann and Dr Tommaso Frattini, published by the Royal Economic Society in The Economic Journal.
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why are some wealthy brexit ears so keen on a new deal breakfast I would they profit from an event that economists agree would make the country poorer the truth is obscured by a myth about the EU either you want to live in must your macarons Europe with a United States of Europe with a European army with all power vested in the center in Brussels or you believe in being an independent self-governing nation state that is the European debate in a sentence this is in fact the problem with the whole European debate Britain can't take back control from the EU because we never lost it 99% of UK public expenditure is determined by the UK government which shapes all major political policy from education to marriage divorce and the NHS the exception is immigration but the UK controls the vast majority of immigration which is from outside the EU immigrants from within the EU are the most valuable for the UK economy paying for more hospital and school places than they use so it's unlikely that the government will rush to reduce numbers Theresa May was Home Secretary for all those years why did she do nothing about it if this was the burning issue and the reason why I think she didn't do anything it's because our social services depend upon the skills of the doctors and the nurses in the health service and the government didn't want to be put in a position where is obviously controlling these numbers creating shortages here lengthening the queues EU countries don't give up their independence or sovereignty the Netherlands and Portugal legalized cannabis Germany's purity law means beer can only contain hops malt and water and mowing the lawn on a Sunday could land you a fine of 50,000 euros its ADIZ no less Italian France is known as French Britain is wonderfully endearingly britain at its best for me at least it means britain had the control over its laws that meant i was able to marry the man I loved and wanted to spend my life with four years again at its worst Britain alone in the EU also had enough control to decide to institute a preposterous and unworkable porn ban in which we're supposed to give out online our credit card and passport numbers to prove our age the small blobs is one of the worst ideas ever invented at the moment unless your Facebook or Google it's actually pretty hard to match up someone's real identity to their online behavior unless that is you make people log in to your site with their real name real email address and real credit card details which is exactly what this legislation will force people to do and this database it would be gigantic despite the absolute truth that anything anything online can be hacked but the illusion of britain losing control resonated with those feeling trapped at the wrong end of inequality and let's make sure that June the 24th Independence Day this obscured a true attempt to take control financial control for the wealthy far from interfering in national politics the EU works on projects that require cooperation like improving air quality cutting international core costs and reducing tax evasion new EU laws make it very difficult to dodge tax by moving profits to low tax countries and a new general anti-abuse rule covers national tax loopholes leading brexit ears have suggested that post brexit london could follow the example of singapore the financial secrecy index which tracks tax havens and capital flight ranks singapore fifth in the world with a secrecy score of 67 Nigel Farage may like the sound of this as it's more secretive than the Isle of Man a tax haven where he was found to have set up a trust fund Jacob Riis mogs investment company is managed via subsidiaries in the tax havens of the Cayman Islands and coincidentally Singapore this is all legal and an established part of Britain's tax network for the wealthy the financial secrecy index states that if Britain's Network were assessed together it would be the single most financially secretive place in the world suddenly BRICS it's a field for the wealthy makes more sense particularly an Odile brexit which would mean no requirement to abide by strict new financial regulations MP Owen Peterson said if we are to thrive our post brexit model should exactly be Singapore low tax low spend low regulation Trump's tax policy provides a glimpse of the potential impact a large corporation tax cut led to a steep drop in tax receipts and ballooning national debt and the impact of financial secrecy on schools and hospitals is felt all over the world African countries have lost over 1 trillion dollars in capital flight dwarfing their combined external debt so Africa is in fact a major net creditor to the world but its assets are in the hands of a wealthy elite protected by offshore secrecy while debts are shouldered by normal Africans brexit threatens to undo EU progress Sajid Javid a contender to replace teresa may who has worked as a banker in Singapore has spoken about using tax cuts and deregulation to transform the post brexit UK economy the NHS may also be trans in the true attempt to take control by corporations the initiative for free trade launched at the Foreign Office by Boris Johnson and Liam Fox thinks American healthcare companies should be allowed to run NHS hospitals after brexit the IFT aims to quotes we capture the moral case for open commerce in other words take back control for corporates environmentalists describe its plans as a low standards free-for-all as a doctor I do get worried about how polluted the air is around us especially for children stood in front of the the school we saw that the and the two levels we're measuring actually became higher and we don't have high pollution events certainly working in a knee we've definitely seen a rise of cases of children with wheezy problems so loads of things that the EU is banned because they could be harmful to are helpful to the environment a totally fair game in the u.s. from the chemicals in your cosmetics to the pesticides sprayed on the crops that you eat so as trade talks with the UK begin the u.s. is going to want to wrangle it so that we have a system that's welcoming to us exports from fluorinated chicken to veggies sprayed with v harming pesticides there are also of course simpler political motivations Nigel Farage has run for MP seven times as the leader of you Kip he found a following and has focused on brexit ever since the illusion of losing control is very effective but it's not Britain that needs to take back control it the British company I suppose it's a paradox really many people saw it as if you like something of a rejection of a way things have been done yes big business your campaign actually did come personally against big business and perhaps our feeling by the public these people have been getting away with murder I mean basically they don't seem to pay any tax they sort of run around the world doing doing what they want there's some the irony that post brexit we would become a tax haven for big companies is that is that what the public had intended when they made that vote it's a very good point but I think there's a distinction to be made um the there's a there's a sort of corporatist Davos man approach rigging the rules of the market in favor of incumbents and the already wealthy and there's a slightly different approach in fact I would argue a radically different approach which is we're in favor of free markets not big business we're in favor of competition with insurgents the big guy seeing the taxes of internationally mobile come they're gonna be internationally mobile in order to induce them to come here to pay the reduce tax rates that's is that what people who thought they were getting with a vote on the deal there would be a genuine opportunity to boost NHS funding and hit certain wealthy elites where it hurts now what would you call a new myth-busting campaign to take back control from tax dodging corporations and lying politicians how about take back control around the world manipulative misinformation threatens our health our schools and hospitals and the environment join us to truly take back control our first brexit award goes to the party that grew from a mountain of brexit which we have debunked in detail nigel farage says he will announce his policies after the election but there's plenty to go on we may have made one of the biggest stupidest collective mistakes in history by getting so worried about global warming I think we're gonna have to move to an insurance-based system for health care Faraj campaigned for a deal with the EU actually know what Norway Norway Norway can afford to give people money it's rich it's successful Norway Norway Norway Norway they're rich they top the world's happen its index they're allowed to catch their own fish but now he wants a very different no deal brexit he's treating the EU elections like a referendum on Europe so let's have a proper one an informed vote asking who's ready taking control