Afternoon:
14°c
Brown on verge of deal to clean up rogue tax havens
Joe Murphy, Political Editor31.03.09
GORDON BROWN is on the brink of a G20 deal to start cleaning up tax havens.
Ten countries that offer legal shelter from high taxes are backing an agreement to disclose information about those suspected of criminal tax evasion.
They include Switzerland, Liechtenstein, Luxembourg, Monaco, Austria and Andorra.
The deal offers Mr Brown the first concrete achievement to trumpet at this week's London summit. The Prime Minister used an interview with the Evening Standard this month to pledge action against rogue states that conceal assets from the authorities and offer immunity from regulations that apply everywhere else.
France today laughed off a claim that Nicolas Sarkozy had threatened to "walk out" of the G20 summit.
They said a report that the French President could "wreck" the event as "unfounded, and like some kind of April Fool's joke".
The Times reported that Mr Sarkozy blamed "Anglo-Saxons" for the worldwide economic crisis and would fly home if his demands for tougher financial regulation were not met.
Appearing on GMTV this morning, Mr Brown sounded optimistic of a wider agreement to boost the world's big economies and confidence-building measures.
"The most important thing is that we act together," he said. "If we all act together we get twice as much effect as if we do it separately."
In a speech later, Mr Brown called on the banks to adopt "family values" in the wake of the collapse of over-complex and misleading financial assets.
Speaking to faith and charity leaders at St Paul's Cathedral, he said "honesty and fairness" should be at the heart of financial services.
"In our families we raise our children to work hard and to do their best and do their bit," he said.
"We don't reward them for taking risks that would put them or others in danger, and we don't encourage them to seek short-term gratification at the expense of long-term value." In the same way, argued Mr Brown, well-run businesses did not train their teams to invest recklessly, behave secretively or keep gambles off the books - the accusations laid against banks.
"Most people who have worked hard to build up their firm or shop don't understand why any company would give rewards for failure; or how some people have grown fabulously wealthy making failed bets with other people's money," he said.
"And so our task today is to bring the imperatives served by our financial markets into proper alignment with the values held by families and business people across our country - hard work, taking responsibility, being honest, being fair."
Reader views (23)
These are the ramblings of a desperate man! How does Brown intend to deal with those legitimate tax avoidance schemes currently in place. Look at the likes of Philip Green, a supposed non-UK resident. Does anyone check how many days he's in the country? As for family values, I suggests he starts with his Cabinet. The Home Secretary is a joke, and if I tried the same thing as McNulty on my employer, I would be up for fraud. The supposed £20 million being spent on the farcical G20 summit could have better been used to help get the country back on its feet so people stop losing their homes and jobs. Perhaps that's what he needs to address.
- Sonia M., St Albans, Herts
Of course GB wants to clamp down on tax havens. Gordon and his corrupt cronies in government need more taxed cash for their pensions, perks and inflation busting pay rises!
- Peter Noterfed, Paris, France
B Hicks of Uxbridge - think you've got your wires crossed. It's Brown and his cronies whi gave the Hedge Fund and Equity scammers the nice matey 10% tax rate, and are fighting against Cam and Os's proposals to tax Non Doms. Blair, Brown and the cronies have enjoyed huge donations from the errant bankers and awarded them peerages for their nice gdenerosity. Look at the news over the past few weeks. Fred the Shred was a NuLab placeman! Get your facts right!
- John Keating, romsey hampshire uk
A 9% increase in MP's pay? Even in the good times this would be outrageous but in the current slump it just beggars belief! Tax havens will want a high burden of proof of crimminal activity before they divulge account information. Mere accusations without detailed evidence will simply be rejected outright so if Crash Gordon thinks he can simply ask for "all account" details and go on fishing expeditions he will get a stiff oak door slammed in his face. This is an utterly meaningless gesture and will gather zero incremental tax revenue. Its just a bit of red meat for the baying mob to put them off the scent of his gross incompetence.
- James Macleod Ritchie, Oyster Bay Cove
Sounds like he needs to clean up the House of Commons, the biggest tax haven of them all, and bring to book some of his thieving cronies, and their tax free claims.
- John Keating, romsey hampshire uk
How is that going to get us out of the Crash Gordon economic recession?
- Georgie, Islington, London
Gordon was right he ended 'boom and bust' with bust
- Terry Roels, codicote uk
I think Gordon would be better to clean up his own back yard (Jacqui Smith, Tom Nuttal, expenses etc) before trying to grasp money from folk who are savvy enough to store it other than this country's dodgy banks!
- Janey C, inverness scotland
I wonder how many British MPs are about to be found out.
- David, london
What have Tax Havens to do with the mess we're in, Gordon? It all happened on YOUR watch, and that's the truth! "End of Boom & Bust"? Enough with the slogans!
What he's really after is more Tax revenues, so that they'll have more to spend on Adult films in their second homes.
- Haskey, London SE1
Of course, Obama has agreed to close the best tax havens which are in some US States! Yeah right!
- Frederick, London
it's our last chance to clean up the perk for the rich, known as Tax evasion, before Honest Dave and George the Hedge Fund Manager's mate get into power and start introducing even more loopholes for their financial backers. They've come to rely on money from non-doms and Tax dodgers.
- B Nicks, Uxbridge England
Sort out your own house first, THEN you can have the decency of sorting out other tax dodges.
- Marianne, SW France
Twaddle Mr Brown, Just resign and leave the country before you destroy it completely, we have had enough of your spin and bad management
- Ian Makin, Twickenham
Why does Gordon Brown not just shut up - and quit. He hates the public, hence no referendum on Europe last year despite pledges, if it was so great trust the people they would certainly back it; no he is an unelected idiot costing thousands of jobs, bankrupting the nation through his reckless borrowing - just quit.
- Tim, London
Anyone who swallows this pathetic spin deserves a belly ache.
- Jonathan Miller, Alfold, England
Smacks of a desperate government that has overborrowed and overspent that is now out in the garden turning rocks up looking for loose small change. Cant see how this will turn around the depression.
- Ian, Dartford, UK
For all Brown's exhortations, this will never happen. This is nothing more and nothing less than soapbox rubbish to deflect from Brown's own incompetence. Whilst the other countries may pay lip service, there is precious little one can list where Brown's "initiatives" of the past 12 years have actually translated into action.
- Bingham Macnamara, lymington, hampshire
What about Guernsey and the Isle of Man - where Dixons and Specsavers hide their cash?
- Reuben Camara, Morecambe UK
Hmm, I don't see any mention of NuLabour ministers on the make with expenses ....
It's "Do as I say, not as I do ..." with this arrogant, greedy, incompetent goverment.
The words 'Hypocrites' and 'Pot, kettle, black' springs to mind.
- Sarit Shah, Hong Kong
Obviously those 'out of touch people' near Parliament Square have moved their money elsewhere. They certainly have plenty of money to move around all at taxpayers expense that's for sure!
- Sue, Orpington, Kent
STARTING I TRUST WITH THE MOTHER OF ALL TAX DODGES MPS EXPENSES? THEN DEAL WITH THE HOUSE OF LORDS FOLLOWED BY THE REST OF THE PUBLIC SECTOR.
- Alan Green, Woodford Green
"And so our task today is to bring the imperatives served by our financial markets into proper alignment with the values held by families and business people across our country - hard work, taking responsibility, being honest, being fair."
--------------------------------------------------
Now he tells us.........LOL.
As Frank Carson would say; its the way I tell-em.
- Mickyinlondon, london
