Occupy in London is back – many riot police, but where are the media?

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By Gail Bradbrook, a TJN supporter who was at the Occupy protest:

“There is currently an occupation in Parliament Square, England, in protest at the capture of democracy by financial interests; a feature of what we at TJN call the Finance Curse.

TJN’s director, John Christensen, was amongst the speakers yesterday, with Tax Justice a major theme. A host of other expert speakers and workshops are happening, focussed on key themes such as inequality, public services and the environment. More information and photos are here and here.

I’ve been there for a couple of days, and seen firsthand the treatment of the peaceful gathering and protesters.

There has been ludicrously tight enforcement of bylaws designed specifically to prevent Occupy-style demonstrations after the first occupation three years ago, which was so successful in highlighting major issues of our time. (The byelaws had to be lightened for Parliament Square after they were legally challenged).

Protestors have been asked to stop sitting on pizza boxes because they count as “sleeping equipment.” We have been prevented from sleeping, our banners, tarpaulins and loud hailers have been confiscated. Other recent protests *have* been allowed to gather in this space with banners and loud hailers, but not Occupy Democracy; instead a round the clock watch of 30 Police have deployed tactics in a clear attempt to drain our energy.

Nevertheless, the protestors are in good spirits and ask anyone who can to come down and join in. We’d also love your help in sharing what is happening through social media, etc. There has been what feels like a media blackout, save for a less than helpful article in the Guardian.

The Finance curse also talks about the capture of the media. In a spectacular example of this, can you imagine an event where at night time, once the tourists aren’t around to see and in front of our iconic symbol of democracy, this level of intimidatory policing is used… without a word spoken about it in major news channels?

 

John Christensen adds:

I spent all day Sunday in Parliament Square and watched at first hand the constant harassment by British police officers and ‘heritage wardens’.  Both groups seemed oblivious to the fact that the square is primarily an open forum for public democracy rather than nice area of lawn to provide tourists with photo opportunties.

I saw at first hand the police arrest an Occupy activist who had cut a piece of string on the the perimeter of the lawn which appeared to serve no purpose other than to deter people from joining the discussion.

Like other speakers, I was not allowed to use amplification equipment during my talk, and had to compete with noise from police helicopters, church bells, and unsilenced cars and motorcycles.  I have attended other events at Parliament Square in recent years at which amplification equipment was allowed.  The police were advised by Occupy’s George Barda of this inconsistency, but were adamant they would seize any equipment used for voice amplification.

I watched police officers harassing Occupy Activists who wanted to use plastic tarpaulins to protect their kit and as a groundsheet for sitting on.

I witnessed a huge and expensive over-policing effort which was clearly intended to deter others from joining the peaceful discussions and provoke retaliation from the participants.  Happily, the latter kept their cool and avoided giving the police the opportunities to arrest they were clearly gagging for.

All this happened, ironically, at an event protesting the loss of democracy in Britain.

I think the rest of the world needs to wake up to how far the UK has gone down the road to losing even a semblance of democracy.  As Gail notes above, the Finance Curse, which I spoke about yesterday at Parliament Square, also includes erosion of press freedom.  This is clearly the case in Britain, where most of the media is owned and controlled by five media barons, many extensive users of tax havens, and where the BBC has long since lost its mojo (on the BBC, also see this.)

Wending my way home last night I couldn’t help feeling ashamed at living in a country which brags about having the Mother of Parliaments, when in reality democracy has become a sham. 

 

 

Energy giant SSE awarded Fair Tax Mark for tax transparency

yBritish newspapers are today reporting a major step forward for the First Tax Mark, with energy giant SSE – the UK’s second larget energy supplier – becoming the first FTSE 100 company to be awarded the Fair Tax Mark.  Continue reading “Energy giant SSE awarded Fair Tax Mark for tax transparency”

Austria’s tax treaties: reducing developing countries’ revenues?

We’ve written a fair bit about tax treaties in the past few days, and have also updated and slightly expanded our tax treaties page. Now, in the spirit of the week, we offer a guest blog from Martina Neuwirth of the Vienna Institute for International Dialogue and Cooperation (VIDC,) highlighting a study of Austrian tax treaties by Julia Braun and Daniel Fuentes, published in April.

Continue reading “Austria’s tax treaties: reducing developing countries’ revenues?”

Fair taxes are key to a fair share for all

Tax_Justice_Now_graphicGuest blog from the Global Alliance for Tax Justice

Growing inequality within and between countries has become one of the defining issues of our age. It seems a week cannot go by without another damning report looking at the size and harmful consequences of this pervasive problem.
Continue reading “Fair taxes are key to a fair share for all”

A reminder of why everyone is underestimating inequality

Equality Trust logoIn 2012 we published a document entitled Inequality: you don’t know the half of it, in which we made the fairly obvious point that studies estimating inequality almost always fail to take offshore wealth (and income) adequately into account, and thus get things wrong at the top end of the income and wealth scale.  We consulted a range of experts, and (as you can see) they all agreed with the basic idea.

We will be doing more work on this in due course, but we just came across this interesting anecdote from the Equality Trust, from May. Continue reading “A reminder of why everyone is underestimating inequality”

Quote of the day: City of London and financial fraud

Black

Black testifies before U.S. Congress

One of a long line of “quotes of the day: this one from 2013, but still relevant today

The “race to the weakest supervisor” did not occur only within the U.S.  Brooksley Born and a former senior SEC official have confirmed to me that UK regulators directly pitched U.S. financial firms to relocate operations to the City of London in order to obtain weaker supervision.  “Fed lite” supervision was a competitive response to the FSA’s “reg lite” system of deliberately weak supervision.

The City of London became the most criminogenic environment in the world for financial fraud, which is why so many UK banks and units of foreign banks located in the City have caused the major scandals in the UK and globally.

Continue reading “Quote of the day: City of London and financial fraud”

EU Savings Tax Directive to be repealed?

The EU Savings Tax Directive (EUSTD) has been the EU’s flagship transparency initiative since its introduction in 2003, and we have written about it on many occasions. It complements another EU transparency scheme called the Directive on Administrative Co-operation, which was beefed up this week, as the Wall St. Journal reported:

“European Union finance ministers agreed Tuesday on a far-reaching crackdown on tax evasion that will bring the bloc’s standards on par with global rules by 2017, although Austria is getting an extra year to build up a data-exchange system with its banks.”

Continue reading “EU Savings Tax Directive to be repealed?”

Bono: Tax Haven Salesman for the Celtic Paper Tiger

Courtesy of New Internationalist

Courtesy of New Internationalist

We’ve been (almost) biting our TJN tongues on Mr. Bono’s latest outburst since the weekend. We were waiting for this to come out. Cross-posted from Naked Capitalism, with permission. We’ve tweaked a couple of words here and there.

Bono: Tax Haven Salesman for the Celtic Paper Tiger

By Nicholas Shaxson

Paul Hewson, an Irish crooner who likes to go by the name of Bono, is well known for calling on citizens to spend their tax dollars on fighting poverty in Africa – then setting up fancy structures to dodge paying his own taxes. The British celebrity entertainer Graham Norton skewers Bono effectively: Continue reading “Bono: Tax Haven Salesman for the Celtic Paper Tiger”

Picture of the day: the global wealth pyramid

HNWIs 2014

More and more very rich people. Click to enlarge

Credit Suisse’s new Global Wealth Report is out. As always, it contains a ream of useful data. For instance, it estimates that global household wealth reached US$263 trillion in mid-2014, up from $117 trillion in 2000:

“Between 2008 and mid-2014, mean wealth per adult grew by 26%; but the same period saw a 54% rise in the number of millionaires, a 106% increase in the number with wealth above USD 100 million, and more than double the number of billionaires.”

Most striking, perhaps, is the global wealth pyramid. Continue reading “Picture of the day: the global wealth pyramid”

Tax haven Panama: it’s time for blacklists and sanctions now

PanamaTen years ago Jeffrey Robinson published a book about tax havens called The Sink, where he quotes a U.S. Customs official as saying of Panama:

“The country is filled with dishonest lawyers, dishonest bankers, dishonest company formation agents and dishonest companies registered there by those dishonest lawyers so that they can deposit dirty money into their dishonest banks. The Free Trade Zone is the black hole through which Panama has become one of the filthiest money laundering sinks in the world.”

Continue reading “Tax haven Panama: it’s time for blacklists and sanctions now”

Tweet of the day: Bono and the “Double Irish” tax loophole

[vc_row][vc_column][vc_column_text]Our tweet of the day:[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/1″][vc_raw_js]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[/vc_raw_js][vc_column_text]More on Bono’s self-justifications very soon.[/vc_column_text][/vc_column][/vc_row]

The (-ve) Value of Jersey to the UK Economy

Jersey ad - New StatesmanThe G20 summit meeting of world leaders in Brisbane next month will have corporate transparency on the agenda. Unsurprisingly, secrecy jurisdictions are working overtime to deflect attention away from their core activities, such as the provision of secrecy and facilities to escape tax, legally or not. Continue reading “The (-ve) Value of Jersey to the UK Economy”

African low income countries demand fair share of tax

The press release. Click to enlarge.

The press release. Click to enlarge.

From Tove Maria Ryding at Eurodad, via email:

At a media event in Washington last week, finance ministers of francophone low-income countries (DRC and Cameroon) demanded a “fair share of global tax revenues” and a “high-level meeting under UN auspices”. Continue reading “African low income countries demand fair share of tax”

Guest blog: Tax and the social contract in Brazil

Falling poverty rates are something to celebrate

Falling poverty rates are something to celebrate – photo: JEC

Guest blog: Tax and the social contract in Brazil

By Marcus Melo, professor of Political Science at the Federal University of Pernambuco, Brazil, and Armando Barrientos, co-research director of the International Research Institute on Brazil & Africa.

Internationally, debates on tax in Brazil often focus on its refusal to adopt OECD transfer pricing guidelines, but the country’s domestic arrangements also offer a fascinating window on its impressive development progress. Continue reading “Guest blog: Tax and the social contract in Brazil”

TJN Africa takes Kenya government to court over Mauritius treaty

Gitobu Imanyara, Counsel for TJN-A

TJN-Africa counsel Gitobu Imanyara. (Photo: Dennis Ayemba, west Fm)

Kenya’s Star newspaper is reporting that TJN-Africa has gone to the High Court in Nairobi to stop a double tax treaty between Kenya and Mauritius, which is supposed to come into effect in July 2015.

Not only do tax treaties with tax havens like Mauritius often allow multinational corporations to strip profits artificially out of victim countries (in this case Kenya), but they also insert a secrecy turntable into the transactions and help Kenyan citizens dodge taxes by “round-tripping” investments illicitly through shell companies in Mauritius.   Continue reading “TJN Africa takes Kenya government to court over Mauritius treaty”

Occupy is back: new protests in London

x

From Occupy, via email:

 

OCCUPY IS BACK

 

Pro-democracy campaigners will occupy Parliament Square in London for nine days next week.

On October 17th Parliament Square will once again be flooded with people who will refuse to be moved.

Continue reading “Occupy is back: new protests in London”

How Finland’s tax treaties contradict its development policies

Finnwatch

Update for tax treaty aficionados: we are reminded that the Vienna Institute for International Dialogue and Cooperation (VIDC) published this study of Austrian tax treaties in April: Austrian Tax Treaties signed with Developing Countries – a Legal and Economic Analysis.

From Finnwatch, a report on Finnish double taxation treaties (DTTs) which analyse how fair and beneficial they are for developing countries. The report was inspired by SOMO’s similar report on Netherlands’ DTTs, published last year, although the Finnwatch report’s scope is somewhat larger, in that it includes also treaty policies on harmful tax competition. Continue reading “How Finland’s tax treaties contradict its development policies”

Direct corporate welfare costs UK taxpayers £85bn a year

KevinFarnsworth-con

Kevin Farnsworth

We recently remarked on the good work done by Good Jobs First in highlighting state-level corporate welfare in the United States. Greg Leroy of Good Jobs First also points is towards the work by the Pew Charitable Trusts to bring more transparency to federal-level subsidies and spending. Now, from The Guardian:

Kevin Farnsworth, a senior lecturer in social policy at the University of York, has spent the best part of a decade studying corporate welfare – delving through Whitehall spreadsheets and others, and poring over Companies House filings. He’s just produced what is, as far as I know, the first ever comprehensive audit of the British corporate welfare state.”

Farnsworth finds that the subsidies and grants paid directly to UK businesses in the financial year 2011-add up to to over £14bn – that is, almost three times the £5bn paid out that year in income-based jobseeker’s allowance.

“Add to that the corporate tax benefits, the value of the cheap credit made available to banks and other business, the insurance schemes run by the government to protect exporters, the marketing for British business laid on by Vince Cable’s ministry, the public procurement from the private sector … Farnsworth calculates that direct corporate welfare costs British taxpayers just shy of £85bn a year. This, he admits, is a conservative estimate.”

This is work that could usefully be done for other countries in the world.

Anonymous company ownership, in a picture

This is from a new Global Witness report entitled “The shell starts to crack? Real owners of Myanmar’s oil and gas blocks come forward.”

We like this picture because it shows, simply, how issues that are at the heart of TJN’s work are so multi-faceted. Illegal logging in Asia connects with the foreclosure mess in the U.S., to blood diamonds and tax evasion. Continue reading “Anonymous company ownership, in a picture”

Tanzanian MP Zitto Kabwe calls on Commonwealth to tackle illicit capital flight

 

Zitto Kabwe MP

Zitto Kabwe MP

This is the transcript of the presentation by Zitto Kabwe, MP United Republic of Tanzania delivered to the  60th Commonwealth Parliamentary Conference Yaoundé, Cameroon, 2th – 10th October, 2014 Continue reading “Tanzanian MP Zitto Kabwe calls on Commonwealth to tackle illicit capital flight”

TJN Australia demands more corporate transparency on tax

xToday’s edition of the Brisbane Times carries a Comment from TJN Australia’s redoubtable campaigner, Dr Mark Zirnsak, responding to the backlash to the recent report on corporate tax avoidance by Australian companies. Continue reading “TJN Australia demands more corporate transparency on tax”

Switzerland wants to cherry-pick “partner” countries on transparency

"Are we Swiss all criminals?" The poster asks. No. But many Swiss bankers are.

“Are we Swiss all criminals?” The poster asks. No. But many Swiss bankers are.

Updated, Oct 10, with additional analysis from the Swiss “Q and A“:

Switzerland has grudgingly made some important concessions on secrecy in recent years – although we’ve always been at pains to stess that it has happened an inch at a time, and usually bilaterally. Typically, this means making concessions to one country alone – most importantly, the United States, or to the European Union. Each time, it’s been in response to intense pressure. Generally, Swiss bankers have remained at the feeding trough of dirty money from developing countries, since they don’t have the political or economic clout to hurt them back in retaliation for their help-a-plunderer role. Continue reading “Switzerland wants to cherry-pick “partner” countries on transparency”