In The Chair

Dame Margaret Hodge

Dame Margaret Hodge
UK Labour Member of Parliament

Celebrated Labour MP, Dame Margaret Hodge, is Chair of the UK’s All-Party Parliamentary Group on Responsible Tax which is trying to compel the Crown Dependencies to follow the agreement by Overseas Territories to introduce public share ownership records by December 2020; a move which all three territories are resisting. In this Economic Report Q & A with Dame Margaret Hodge, she reveals that the Group has no intention of withdrawing their amendment and rebuts the claims made by the CDS.

ER: The Sovereign State is a legitimate form of self-rule in which state law claims it has final authority over matters within its territorial jurisdiction.  How legally valid is the push from UK politicians to demand that another jurisdiction changes its laws and what is your reaction to the Crown Dependencies’ vocal and well publicised argument that it is not for the UK Parliament to dictate how they are regulated?

DMH: I think they are talking nonsense; we have very strong legal advice that we are meeting all constitutional proprieties. Clearly one would prefer that the Crown Dependencies came willingly to the table to introduce greater transparency. That is why Andrew Mitchell (Conservative Party MP and Vice-Chair of the APPG Responsible Tax) and I visited all three jurisdictions to discuss the values that underpin what we are trying to do which is to ensure that there is true transparency and to use transparency as a tool to fight aggressive tax avoidance, money laundering and oth…

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Focus on Philanthropy

Feature in Focus

As philanthropy and social good initiatives continue to grow exponentially amongst corporations and high net-worth individuals alike, IFCs which embrace this growing sector not only have the opportunity to meet increasing client demand for such services, but also to make a tangible contribution to social impact causes around the world. However, there are challenges ahead, and IFCs must work hard to mitigate their reputation as the world’s global development ‘baddies’, if they are to become the financial catalysts the philanthropy sector needs.