TAX HAVENS: ENEMIES OF POVERTY

Source: YubaNet.com.

By Gundhramns Hammer

June 15, 2015

Mahatma Gandhi regarded secrecy as the enemy of freedom, not only of India but the freedom of man too.

But secrecy is not only that. It is also the enemy of poverty. 

Why?

Because there are banks that hide humongous fortunes behind a thick layer of secrecy. 

In the UK alone, this veil of secrecy has a negative impact on poverty. The same thing happens around the world.

Murphy (2009) estimates that at least £18 billion a year are lost in tax revenue as a result of tax haven related activity. 

If so, this amount is "a sum four times bigger than the cost of eliminating child poverty in the UK", according to Murphy (2009).

Read or download the full report (PDF):

TAX HAVENS REPORT by Richard Murphy (2009). PCS/War on Want, London, UK. 70 p.

Click HERE.