Tax havens: the case for change
13 March 2009
On 12 March, War on Want helped to host a public seminar where different NGOs explained the problems caused by tax havens, in terms of lost revenue for development as well as secretive and destabilising accounting that have allowed huge amounts of money to be hidden from public view. The groups didn’t single out Jersey in particular but showed it to be an example of a tax haven where corporations avoid paying tax wherever they operated, including when working in the developing world.
A lively debate took place with local residents, many of whom regretted the dependency that Jersey now has on the finance industry. Finance has become so dominant on the island that real preparation and investment is needed if Jersey is to make the needed transition that a change in tax laws would entail.
Alongside this, the UK government continues a series of cuts to HMRC that can only impede its ability to collect tax. This programme of cuts must halt immediately, and tax offices must be properly funded and resourced in order to properly combat corporate tax dodging.
The following morning, groups took part in a guided tour of eight of the banks across the island. These were institutions based in countries across Europe but all had the common feature of having been involved in facilitating tax dodging. The tour ended with the reading of a 
policy declaration in the main square.
The campaign will carry on until the UK government uses its influence and works with other countries to dramatically change financial rules that allow tax havens to operate and funnel vital finance away from the developing world.
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