after Arab Spring, the Bloomsbury Spring

Actually, I don't see any springing going on in London,
the tax haven of choice, any time soon. It has a
deeply entrenched mafia, it's own City Corporation,
in lieu of democracy, so I wish the tax researchers
all the luck.

Checkit: from Tax research

Tax haven UK is alive – and prospering on the back of corruption

Sep 03,2012

The FT reports this morning:

A £38bn development boom in London’s most expensive neighbourhoods has been spurred by rampant demand from European and Asian buyers seeking safe investments away from turbulent Eurozone economies.

The pipeline of upmarket housing projects in planning or already under construction in the UK capital has increased more than two-thirds during the past year, with 15,500 units slated for delivery by 2021, even as building work in other parts of the country remains stagnant.

That’s one version of the story. The Guardian offers another (in a compelling story that deserves to be read in full). They report:

Britain has allowed key members of Egypt’s toppled dictatorship to retain millions of pounds of suspected property and business assets in the UK, potentially violating a globally-agreed set of sanctions.

The situation has led to accusations that ministers are more interested in preserving the City of London’s cosy relationship with the Arab financial sector than in securing justice.