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NEC Statement - Paradise/Panama Papers & Tax Havens
The Liberal Party notes the latest installment of controversy involving offshore tax heavens, as revealed in the so call Paradise Papers released in early November 2017.

Although the documents detail the legitimate use of such facilities, as opposed to the more serious tax evasion detailed in the earlier Panama Papers, they still expose the advantages tax arrangements of individuals and international companies. They detail favorable tax arrangements simply unavailable to the ordinary citizen.

The Liberal Party calls on the British government to urgently reform the rules and regulation which ensure transparent disclosure on the flows of capital abroad and their beneficiaries. There also remains the urgent need to fully disclose the registration of shell companies within the city of London and offshore dependencies.

Politicians and regulators worldwide risk undermining trust in global finance by simple virtue of their slow response to such revelation in the past and the glacial pace of reform.

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