Accusing offshore centres of causing economic turmoil is akin to blaming rising UK unemployment on the influx of foreign workers, law giant BakerPlatt says.
Group chairman Stephen Platt describes both approaches as "flawed and dishonest, but popular". He adds while the cause of the economic crisis is generally accepted to be a lack of oversight by regulatory authorities in the UK and US, politicians' response "has been one of denial and distraction". "Blaming the offshore centres is the intellectual equal of blaming foreign workers for rising unemployment in the UK," Platt says. "It is flawed, it is dishonest but it is popular." Platt questions Brown's call for action against tax havens, "which have escaped the regulatory attention they n...
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