Britain 'indifferent' to global tax haven crackdown

Date: 22nd January 2009

Plans for a global crackdown on taxation havens have been rejected by the UK, according to a report.

As stated by the Guardian newspaper, Britain has passed up the opportunity to join the newly-formed Taskforce on Financial Integrity and Economic Development, which was recently launched in the US.

European nations such as France, Germany and Spain have already signed up to the scheme, which is demanding an end to 'financial secrecy' in so-called tax havens.

A forensic accountant and key member of the taskforce, Richard Murphy, told the Guardian: "The UK was invited to participate. They haven't and they show no indication that they will engage with this."

He added that US president Barack Obama was "interested" in the UK joining the group, but so far the country had been "coolly indifferent".

Commenting on its decision not to enter the taskforce, the Treasury last night told the newspaper that it was looking to address tax haven issues through the G20 organisation.