George Osborne’s radical plan to shut down tax havens

With the expected introduction of a UK version of America’s FATCA law, George Osborne has tax havens in his sights. So could the days of hiding money offshore be over?

George Osborne has been the subject of substantial criticism from both left and right over the last two years for his rather unimaginative management of the UK economy. So he must have been relieved to find his appointment of Mark Carney as the next governor of the Bank of England almost universally praised for its judgement and boldness.

However, an article published last Friday in the obscure International Tax Review suggests that Osborne's current bout of radicalism will not end with his central bank appointments. For he has set his sights on an even bigger target the practical abolition of tax havens under British jurisdiction.

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