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DEMOCRATIC REPUBLICAN PARTY NEWSLETTER

For a Civic and Constitutional Republic

www.democraticrepublicanparty.co.uk 

 

Issue No 116 Sunday 10 February 2013

This Week

  • Queen Is Head Of State Of Nations That Rob British Tax Payers


News Stories

Highlighting news stories important to the Civic Republican view, particularly those that are overlooked or little covered in the main media.

Read more latest Republican stories on Democratic Republican Party Facebook Page


GLOBALISATION

Queen Is Head Of State Of Nations That Rob British Tax Payers

Peter Kellow gives a personal view

The establishment press gives itself a pat on the back for reporting this tax scam. But The Observer did not uncover the story; it simply lazily lifted it from a report by Action Aid.


The Observer, Saturday 9 February 2013 22.00 GMT

British sugar giant caught in global tax scandal

Associated British Foods accused of Zambia tax avoidance after sending massive profits abroad

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By reporting this as a single event, the global network of offshore jurisdictions, enabling multinationals to fleece tax payers everywhere, is obscured. To call this scam the tip of the iceberg would not give a true picture for it is just one example among hundreds of thousands.

At the very heart of this network is the City of London. The City likes to present itself as a “square mile” in Britain but the reality is that it is just the centre of an extended global archipelago of tax havens all of whom have the Queen as their head of state: the Cayman Islands, Gibraltar, Jersey and so on. The Cayman Islands is the fourth biggest financial centre in the world. Their activities are cloaked in secrecy but it is certain that tax evasion and criminality occurs under their watch.

The British monarch is used as a badge of respectability – a role which she happily accepts. In these tax havens the Queen could exercise her authority to stop British tax payers being robbed but instead she gives her name to their harbouring of tax avoidance, tax evasion, tax fraud and crime. The British Parliament and the Prime Minister have no jurisdiction in the these territories but the monarch does.

There could be no better illustration of how the monarch is prepared to allow her name to be associated with shame and disgrace. There could be no better demonstration of how the monarch really regards her people.


Cayman Islands Stamps

The success of multinationals in dominating world trade and driving out local enterprises is due in large part to the fact that they pay little in the way of tax. This gives them a massive competitive advantage whilst our British SMEs struggle to honestly pay taxes to the Exchequer. Starbucks was just one example that recently got into the news. Now Associated British Foods is another. 

The City of London likes to trumpet how much as a financial centre it contributes to British taxes. This ignores that fact that many of its financial companies including insurance companies, hedge funds and, of course, banks have registrations in tax havens paying no British tax and little tax anywhere..

But the even bigger omission is that a large part of the activity of the City is to enable individuals and companies to avoid (or evade, the line is often difficult to draw) paying taxes. The City is a massive machine for swindling the British tax payers and lumbering them with unpayable debts.

The British government is in awe of multinationals and the City of London and allows itself to be bent to their will. But if the government were really interested in the wellbeing of the people it would make sure that every piece of business activity that takes place in Britain is taxed according to British law. As it is, we have the giant financial machine at the heart of our capital that siphons money away from the Exchequer leaving the rest of us broke with insecure employment and degraded public services.

The Coalition government has nothing to say about international tax rip-offs. But this is an issue at the heart of the injustice that the current global economy creates. The DRP is the only party that is prepared to speak the truth and formulate a policy to put an end to this injustice


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