Follow all the latest revelations and reaction to the Pandora papers
- Biggest ever leak of offshore data exposes financial secrets of rich and powerful
- Major Tory donor advised on Uzbekistan deal later found to be $220m bribe
- Let the light in: why the Guardian is publishing the Pandora papers
- Read all our reports on the Pandora papers
Rishi Sunak has denied being ashamed of London’s reputation as the tax avoidance capital of the world.
Speaking on BBC Radio 4’s Today programme, the chancellor said:
I don’t think it is a source of shame because actually our track record on this issue is very strong. My predecessors, George Osborne especially, led the world in improving a couple of things: one is something called transparency, making sure that we know who owns things. And the second thing is exchanging data between tax authorities or enforcement authorities. The independent global body called FATF [Financial Action Task Force] has said that we are one of the best in the world at this.
But as you’ve seen from the papers, it is a global problem. There’s a global dimension to it. And we need other countries to cooperate with us to tackle this, but we are determined to do that. And I said our track record on this is very strong.
And the independent global body FATF said, when they last looked at this in 2018, that we were probably one of the world’s best places to tackle money laundering. There is always more we can do.
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