Tuesday, 26 June 2012

$2,000,000,000,000 (Two Trillion Dollars)

$2,000,000,000,000 (Two Trillion Dollars) for Britain - The ever vigilant Mrs Trellis of North Wales challenges my tax-accountancy views pitched against the combined weight of counter opinions from the western world’s massed media; a cast of thousands who all mugged-up last week on international tax-law and became overnight top legal-eagles, unanimously and continually asserting that the mind bogglingly complex tax avoidance schemes they report are “…of course all strictly legal”. 

Mrs Trellis writes “These lovely presenters would not ever, ever, ever mislead us. I can’t believe they are all tax evaders who have a, now terrified, vested interest in proving that evasion is avoidance and so legal, that black is white and vice-versa; and that two and two make five or three or whatever number you like – proving it merely by constant repetition. If they didn’t understand the legal intricacies of these schemes, such trusted public figures would not give any opinion.”

So, to reassure Mrs Trellis (with apologies to: I'm sorry I haven't a clue - BBC Radio 4) here is my relevant CV back to 1960.

Also, the gentle lady asks; "Anyway - just how much could a Crack-Tax-Recovery-Unit get back?" Well – the OECD calculated in 2008 there is about $18 trillion off-shore, which mostly originated from the OECD economies over the past 30 years.  The UK invented tax-shelters (for our struggling Aristocrats - God Bless You Kind Sirs) and are disproportionately weighted in contributing to The Global Rivers of Tax-Free Cash. Of the $18 trillion ($18 thousand billion) out there, the UK’s share is not less than $2 trillion – or 3 years entire UK fiscal budget – ripe for repatriation; as is Greece's, Spain's, Italy's and America’s siphoned off, tax-free share of the loot.  It will repay all national deficits.

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