The Telegraph reports that David Cameron is expected to use the G20 gathering of world leaders this weekend to press for greater sharing of tax information to crackdown on avoidance. Open Europe’s Raoul Ruparel is quoted in City AM discussing Luxembourg’s tax agreements with multinationals – the details of which were leaked – and the implications for European Commission President Jean-Claude Juncker.
The G20 nations are determined to harmonize taxes the world over at a high rate and allow no legal escape anywhere. British prime minister David Cameron is the latest world leader to succumbed to the siren call of being able to milk his people for an even greater share of the fruits of their toil without fear that they will seek legal protection elsewhere. What these parasites on the people's wealth have in common is a fear of tax competition. They give lip service to the benefits of competition in the private sector, and most countries have criminal laws against economic collusion, yet they fear competition for themselves in the realm of taxes and law.