Welfare Reform and Tax Havens

The following letter from our Chairman, Rev Paul Nicolson, was published in the current issue of the Church Times
Sir, — Lord Carey believes that “the public debt of £1 trillion is the greatest moral scandal facing Britain today” (News, 27 January). I suggest that there is another and greater.es.

The Organisation for Economic Co-operation and Development estimates that £11.5 trillion of cash and investments is parked in over­seas tax havens. The Sunday Times estimates that £100 billion of central-London property is registered overseas out of reach of the taxman. Private landlords have received billions in housing benefit every year, rising to about £7 billion in 2010, according to the Depart­ment for Work and Pensions. Continue reading