13/09/18

Tory Attorney General faces questions after he objected to plans to make tax havens more transparent

(Mirror) -- Attorney General Geoffrey Cox was a backbencher when he objected to plans for greater openness of companies based in overseas territories, such as the Cayman Islands.

The Government’s law chief faces questions from Labour after he hit out at plans to make tax havens more transparent.

Attorney General Geoffrey Cox was a backbencher when he objected to plans for greater openness of companies based in overseas territories, such as the Cayman Islands.

Campaigners said the move would make it easier to see which businesses were based in the low-tax jurisdictions.

Shadow Security Minister Nick Thomas-Symonds has written to Mr Cox saying “an essential part of or action against economics crime is tough action internationally, including a public register of beneficial ownership of companies based in the overseas territories”.

But he pointed to comments Mr Cox made on May 1 this year - two months before he was promoted to the Cabinet - where he warned: “All it will mean is that the money goes to where it is darkest.”

In his letter, seen by the Mirror, Mr Thomas-Symonds says: ”You can imagine the concern there is that every member of the Government is committed to this agenda of transparency in relation to the overseas territories, particularly in the light of the ‘Panama Papers’ and ‘Paradise Papers’ revelations of recent years.”