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There is no doubt that if Labour were to form the government following the upcoming General Election it would face enormous push-back from incredibly powerful vested interests, including the City of London.
Within Parliament, it is conceivable that some MPs or their families have made use of secrecy jurisdictions for “tax efficiency” and would be massively embarrassed through exposure.
Expect to hear much about the supposed sovereignty of the havens and the UK’s lack of power to effect change, a set of shibboleths rapidly deployed but easily dismissed.
As a result, there is no guarantee that Labour would succeed in its pledge in its entirety.
We read every letter, fax, or e-mail we receive, and we will convey your comments to CIA officials outside OPA as appropriate.
If the pledge was implemented, the reverberations around the world would be profound.
In 2016, the OECD estimated that 0bn is lost in tax revenue around the world as a result of tax evasion, in large part facilitated and aided by secrecy jurisdictions.