UK reputation 'on the line' over offshore tax havens, says Oxfam

The charity estimated lost tax revenue from money placed offshore is costing governments more than $150bn (£99bn) a year, enough, it said, to eliminate extreme poverty across the globe twice over. In total, a third of the near $18.5tn being held for individuals in tax havens is in British Overseas Territories and crown dependencies, Oxfam added. It has implored the Prime Minister to agree an international deal that would end secrecy and allow developing countries to recover the billions of pounds they were owed. Oxfam head of development finance and public services Emma Seery said:...