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  1. Wealth
March 9, 2009

Observer: Brown to publish list of tax haven targets

By Spear's

Gordon Brown is preparing to unveil a blacklist of harmful tax havens to be published before the crucial London G20 meeting next month.

From the Observer:

Gordon Brown is preparing to unveil a blacklist of harmful tax havens to be published before the crucial London G20 meeting next month.

The list is expected to include offshore centres linked to Britain, including the Cayman Islands and Bermuda. The move will be seen as a radical departure from the prime minister’s historic position of protecting the pre-eminence of Britain’s financial services industry.

Crucially, it will also attempt to counter growing criticism from France and Germany that the UK, like Switzerland, is an obstacle to a transparent financial system.

It is understood that the government has accepted the need for global regulation of so-called secrecy jurisdictions and acknowledges the current system of bilateral exchange of information between tax havens and individual countries hasn’t brought financial stability.

To read the full story, visit guardian.co.uk
 

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