The chief executives of 17 charities and campaign groups are calling on the PM to speed up plans to launch a public register of beneficial ownership to encourage greater transparency and shed a light on complex offshore ownership structures
In a letter to the PM, David Cameron, the charities have called for the government to act quickly to stop UK tax havens from ‘enabling corruption and tax dodging around the world’.
The charities say the move follows the revelations in the Panama Papers about the role played by a number of the UK’s overseas territories and crown dependencies, including the British Virgin Islands.
The letter, signed by the CEOs of organisations including ActionAid UK, CAFOD, Christian Aid, Oxfam and Global Witness, comes less than two weeks before David Cameron’s international anti-corruption summit in London on 12 May.
The letter calls for public registers of the beneficial owners of companies in these jurisdictions.
The letter states: ‘While we welcome your announcement that the overseas territories and crown dependencies will adopt central registries of beneficial ownership available to UK law enforcement, we do not believe this is enough to achieve your own stated ambition or strike a decisive blow at the UK’s role in facilitating global corruption.’
‘It is vital that you introduce public registers of beneficial ownership in all the major offshore jurisdictions, including the overseas territories and crown dependencies. We urge you to use all the powers at your disposal to achieve this vital reform, and to ensure that the UK shows true leadership in both words and deeds.’
A full list and the text of the letter is on the Christian Aid website here
