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40% of the dirty money in the world is going through the City of London and other crown dependencies
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Andrew Mitchell the UK’s deputy foreign secretary has said.
Andrew Mitchell added the crown dependencies and overseas territories will face fresh demands from the Foreign Office to comply with UK laws setting up public registers of beneficial share ownership.
Since legislation was passed in the House of Commons in 2016 the UK has faced prevarication from overseas territories which are reluctant to set up public registers that disclose the ultimate owners of funds in tax havens.
42,500 of the 95,000 residential properties in England and Wales that are registered to offshore owners are located in London. Including 15,000 in Westminster, Kensignton and Chelsea.
Stop the boats, no extra pay for doctors and carers being picked out as benefit criminals
14 years Sunak, what’s going on.
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By it's very nature, dirty money is hard to track and quantify. This 40% figure seems high compared to the competing financial centres of New York, Singapore, Hong Kong, Shanghai, Zurich, Dubai and many more. |
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"Is it really hard to track ? How many people do the government employ to look for dirty money compared to the people they employ to investigate benefit cheats it begs the question WHY"
Well benefit cheats are directly defrauding the UK taxpayer, whereas dirty money is private funds from overseas on which the UK may have no tax claims. |
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"Is it really hard to track ? How many people do the government employ to look for dirty money compared to the people they employ to investigate benefit cheats it begs the question WHY
Well benefit cheats are directly defrauding the UK taxpayer, whereas dirty money is private funds from overseas on which the UK may have no tax claims."
well the U.K. won’t know if we have tax claims if we don’t look for it and I bet it will be a hell of a lot more money than chasing the poor |
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"****Andrew Mitchell the UK’s deputy foreign secretary has said.
Andrew Mitchell added the crown dependencies and overseas territories will face fresh demands from the Foreign Office to comply with UK laws setting up public registers of beneficial share ownership.****
"
This statement from the government representative says that the government has already been chasing the crown dependencies and overseas territories to address the issue.
But what else can the government do. By their very nature, these countries are self-governing. Do we invade?
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It's easier to track a benefit cheat as their paperwork goes through more than one government department. Also. HMRC are now connected to all the benefit outlets, so discrepancies show up more frequently, and they have the power to 'STOP' anything they are suspicious of.
If a register list for overseas wealth doesn't operate, how can the government do anything - if they do not want to start a register, how can the government do anything?
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"It's easier to track a benefit cheat as their paperwork goes through more than one government department. Also. HMRC are now connected to all the benefit outlets, so discrepancies show up more frequently, and they have the power to 'STOP' anything they are suspicious of.
If a register list for overseas wealth doesn't operate, how can the government do anything - if they do not want to start a register, how can the government do anything?
"
ya hit the nail on the head there EASIER |
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"It's easier to track a benefit cheat as their paperwork goes through more than one government department. Also. HMRC are now connected to all the benefit outlets, so discrepancies show up more frequently, and they have the power to 'STOP' anything they are suspicious of.
If a register list for overseas wealth doesn't operate, how can the government do anything - if they do not want to start a register, how can the government do anything?
ya hit the nail on the head there EASIER"
Easier. Only because the paperwork goes through those departments - the paperwork DOES NOT come from the overseas territories or dependencies to those departments.
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"It's easier to track a benefit cheat as their paperwork goes through more than one government department. Also. HMRC are now connected to all the benefit outlets, so discrepancies show up more frequently, and they have the power to 'STOP' anything they are suspicious of.
If a register list for overseas wealth doesn't operate, how can the government do anything - if they do not want to start a register, how can the government do anything?
ya hit the nail on the head there EASIER
Easier. Only because the paperwork goes through those departments - the paperwork DOES NOT come from the overseas territories or dependencies to those departments.
"
its 2024 I’m sure if the government wanted to find dirty money it wouldn’t be to hard I’m just not sure they look for it scared of what they may find and who the money belongs too |
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"It's easier to track a benefit cheat as their paperwork goes through more than one government department. Also. HMRC are now connected to all the benefit outlets, so discrepancies show up more frequently, and they have the power to 'STOP' anything they are suspicious of.
If a register list for overseas wealth doesn't operate, how can the government do anything - if they do not want to start a register, how can the government do anything?
ya hit the nail on the head there EASIER
Easier. Only because the paperwork goes through those departments - the paperwork DOES NOT come from the overseas territories or dependencies to those departments.
its 2024 I’m sure if the government wanted to find dirty money it wouldn’t be to hard I’m just not sure they look for it scared of what they may find and who the money belongs too "
The statement from the minister above says that is what they are saying - but the crowne dependencies and overseas territories won't cooperate. |
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"It's easier to track a benefit cheat as their paperwork goes through more than one government department. Also. HMRC are now connected to all the benefit outlets, so discrepancies show up more frequently, and they have the power to 'STOP' anything they are suspicious of.
If a register list for overseas wealth doesn't operate, how can the government do anything - if they do not want to start a register, how can the government do anything?
ya hit the nail on the head there EASIER
Easier. Only because the paperwork goes through those departments - the paperwork DOES NOT come from the overseas territories or dependencies to those departments.
its 2024 I’m sure if the government wanted to find dirty money it wouldn’t be to hard I’m just not sure they look for it scared of what they may find and who the money belongs too "
Maybe the government should employ the investigative journalists who seem to uncover the dodgy money schemes... |
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"It's easier to track a benefit cheat as their paperwork goes through more than one government department. Also. HMRC are now connected to all the benefit outlets, so discrepancies show up more frequently, and they have the power to 'STOP' anything they are suspicious of.
If a register list for overseas wealth doesn't operate, how can the government do anything - if they do not want to start a register, how can the government do anything?
ya hit the nail on the head there EASIER
Easier. Only because the paperwork goes through those departments - the paperwork DOES NOT come from the overseas territories or dependencies to those departments.
its 2024 I’m sure if the government wanted to find dirty money it wouldn’t be to hard I’m just not sure they look for it scared of what they may find and who the money belongs too
Maybe the government should employ the investigative journalists who seem to uncover the dodgy money schemes..."
that would make sence no doubt they would find lots of dodgy money |
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By *ackal1Couple 32 weeks ago
Manchester |
The British government claim the the Virgin Islands are independent and yet the United Nations does not recognise this claim as we have a governor and have imposed political processes upon them to suit our agenda. We are also responsible for their security .
We have been lied to by consecutive governments as party backers hide their cash in many U.K controlled locations. Parties don’t want to upset their paymasters . |
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"
The British government claim the the Virgin Islands are independent and yet the United Nations does not recognise this claim as we have a governor and have imposed political processes upon them to suit our agenda. We are also responsible for their security .
We have been lied to by consecutive governments as party backers hide their cash in many U.K controlled locations. Parties don’t want to upset their paymasters . "
aint that the truth there |
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"
The British government claim the the Virgin Islands are independent and yet the United Nations does not recognise this claim as we have a governor and have imposed political processes upon them to suit our agenda. We are also responsible for their security .
We have been lied to by consecutive governments as party backers hide their cash in many U.K controlled locations. Parties don’t want to upset their paymasters . "
That is already in process . . .
"The review said the BVI's constitution should be suspended and its government dissolved amid corruption concerns.
But the foreign secretary will instead allow a new administration to implement reforms in the next two years.
If they fail to meet targets, Liz Truss has taken new powers to make imposing direct rule easier.
The former leader of the BVI, Andrew Fahie, was arrested in April for alleged drug smuggling and money laundering in the US.
British Virgin Islands corruption inquiry launched
The inquiry was commissioned in 2021 amid claims about corruption and misuse of taxpayers' money but was not directly connected to the arrest of Mr Fahie.
Led by British judge Sir Gary Hickinbottom, the report, external described the state of governance in the BVI as "appallingly bad".
He found that millions of dollars of state funds were spent each year by politicians and ministries without proper process, there was "serious dishonesty" relating to sales of public property, and there was widespread abuse of appointments.
In his conclusions, Sir Gary called for a two-year suspension of the BVI constitution, cessation of the elected ministerial government and the imposition of direct rule by the UK.
He also recommended reviews of the government's welfare payments, the sale of public land, and law enforcement on the islands.
Outlining her reasons for not imposing direct rule on the BVI, Ms Truss pointed to changes that have been made since Sir Gary's report in April, including the removal of Mr Fahie from his role and the creation of a new government of national unity, which has begun criminal investigations.
Ms Truss said she believed the BVI's new government should be given the opportunity to "demonstrate their commitment to reform" and implement the 48 recommendations made by Sir Gary and the further measures the administration has proposed.
But she added: "If it becomes clear that this approach is not delivering the reform the people of the BVI want and deserve we will take action. This may require the swift implementation of the final report recommendation [imposing direct rule]." |
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