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Prime Minister Gordon Brown has called for heavier regulation for offshore tax havens as part of global plans to tackle the banking crisis. Last week, the prime minister told the Scottish Labour conference there must also be internationally agreed standards to end the "short-term banking bonus culture". He also said that there should be assistance for countries unable to restructure their own banking systems. Proposals for reform will be put to the forthcoming G20 summit of the world's leading nations in London. He told the conference, in Dundee: "What makes me angry is that good people, hard-working people are being squeezed by banking mistakes and that's why we need the urgent clear-up and clear out in our banking system." Setting out his proposals for reform, the prime minister said it was time to establish a "global framework for international supervision". It was time, he said, to bring tax havens and the shadow banking system "into the regulatory net". The prime minister's conference speech came just days after he urged the US congress in Washington to push for economic change.
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About The Author  Sarah Laing Sarah is a Chartered Tax Adviser. She has been writing professionally since joining CCH Editions in 1998 as a Senior Technical Editor, contributing to a range of highly regarded publications including the British Tax Reporter, Taxes - The Weekly Tax News, the Red & Green legislation volumes, Hardman's, International Tax Agreements and many others. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars (including ABG Courses and Conferences). Sarah originally worked for the Inland Revenue in Newbury and Swindon Tax Offices, before moving out into practice in 1991. She has worked for both small and Big 5 firms. She now works as a freelance author providing technical writing services for the tax and accountancy profession. |
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Article Added Monday, 09 March 2009 | 1377 Hits |
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