Govt Responds To UK Labour Leader’s Statement

November 1, 2017

The Bermuda Government said they note the statement today by Labour Leader Jeremy Corbyn in UK Parliament, which the Government said was “misinformed,” noting that Appleby Global “is not Bermuda based,” and also stating that “Bermuda was recently confirmed by the French Government as a ‘whitelisted’ jurisdiction due to Bermuda’s excellent work on international tax transparency.”

Questions In UK Parliament

This follows after Labour leader Jeremy Corbyn questioned Prime Minister Theresa May in in the UK House of Commons today [Nov 1], citing an attempt to place Bermuda on “the European Union tax haven blacklist” and what he called a “leak from a Bermuda-based law firm.”

The questions were put during Prime Minister’s Question Time, which takes place every Wednesday that the House of Commons is sitting and gives MPs the chance to put questions to the Prime Minister.

Labour leader Jeremy Corbyn said, “The Isle of Man VAT avoidance allegations are part of a wider leak from a Bermuda-based law firm said to be on a similar scale to the Panama papers. Will the Prime Minister commit HMRC to fully investigate all evidence of UK tax avoidance and evasion from this leak, and prosecute where feasible?”

Prime Minister replied, “I have given the Right Hon. Gentleman an assurance in my first answer that HMRC does take these issues very seriously, does investigate and does take action, and that, where appropriate, tax loopholes are closed.

Video of the exchange between the Opposition Leader & Prime Minister today:

“What is important is to look at the record, and I have mentioned the additional £160 billion of compliance revenues since 2010. We have announced or implemented more than 75 measures since 2010 to tackle tax avoidance and evasion. The right Hon. Gentleman referred to one that had been done by the Labour Government, and we have continued to act on this issue.

“We will be raising billions of pounds more as a result of that. I want to reassure him: I think most people would recognise that HMRC actually wants to collect tax. That is its job, and it looks to make sure that it can do so as much as possible.”

Mr Corbyn said, “Well, it is rather strange then that Britain has reportedly blocked a French-led proposal that would have placed Bermuda on the European Union tax haven blacklist. Perhaps the Prime Minister could explain why that would be the case.

“The Panama Papers exposed many wealthy individuals and big businesses who avoided tax through offshore trusts. Labour backs any necessary changes to toughen our laws against aggressive tax avoidance. Just yesterday, we tried to strengthen legislation on the beneficial ownership of trusts, through amendments that we tabled to the Finance Bill. Why did the Government vote against them?

The Prime Minister replied, “The right Hon. Gentleman raises the issue of the British Overseas Territories. In fact, this Government have taken action in relation those Territories—action that was not taken by the previous Labour Government.

“If he is saying to me that the whole question of tax evasion needs constantly to be looked at and that the Government need to be prepared to act, my answer is, yes, we are and we will.”

The Prime Minister added, “This party in Government has not just been acting in the UK; we have been working with the Crown Dependencies and with the British Overseas Territories, and we have been leading the world.”

Bermuda Government Responds

A Government spokesperson said, “The Government of Bermuda notes the statement by the Rt Hon Jeremy Corbyn MP, Leader of Her Majesty’s Opposition in the UK Parliament, which was misinformed.

“The Government of Bermuda can confirm that Appleby Global is not ‘Bermuda based’; its global management is based in Jersey.

“Bermuda is a recognised leader in international tax compliance and tax transparency with 114 tax treaty partners.

“The Opposition Leader may not be aware that Bermuda was recently confirmed by the French Government as a ‘whitelisted’ jurisdiction due to Bermuda’s excellent work on international tax transparency.”

Share via email

Read More About

Category: All, News, Politics

Comments (18)

Trackback URL | Comments RSS Feed

  1. Onion Jiuce says:

    Wow we really set that straight?

  2. Onion Jiuce says:

    The wider question, is where, did Mr Corbyn get this information? Might want to act on that!

  3. S Rego, MA (Dist), BA (Hons Merit) says:

    *facepalm*…how is it that UK members of society that are tasked with running a country don’t make sure their information is accurate before making such statements about others…especially something as intricately woven to the UK as an OT like Bermuda.

    • Joe Bloggs says:

      You really expect a politician to get his facts right? Why? He is looking for publicity, not to show off his intelligence!

      • S Rego, MA (Dist), BA (Hons Merit) says:

        @Joe Bloggs……I don’t…think you get the concept of a rhetorical question. Lol.

    • Onion Juice II says:

      I guess they’re no different than the plp…constantly repeating lies.

  4. lily says:

    should those qualify expats who are not paying taxes be also investigted

    • John J says:

      Yawn, bore off.

      Your statement doesn’t even mean anything.

      Expats go back to U.K./U.S, we are left with what exactly?

      • Onion Juice II says:

        “Expats go back to U.K./U.S, we are left with what exactly?”

        debt

  5. Real Onion says:

    Jeremy Corbyn would make an excellent leader of the plp,
    like Jeremy,they have no idea of what they are doing!

    • Longtail says:

      Neither does May, nor Trump for that matter….. ‘the best politicians that money can buy’ springs to mind (including these days the cost of the ‘false news’ that now permeates every political party, to whit Corbyn’s attempt at misinformation)

    • X ubp/OBA voter says:

      Are you applying to be leader of the 12 seat party or just sitting there complaining while warming one of the seats?

      • Real Onion says:

        stupid question by a stupid person that only reads what he/she thinks is written,typical plp brainwashed person.

  6. swing voter says:

    Corbyn is not fit for service. Give him a deferral post haste!

  7. Rocky5 says:

    Funny to see Progressive LABOUR Party scrapping with their mates at British LABOUR Party! Well remember the days when PLP would regularly troupe over for Labour Party parties

  8. Onion Juice II says:

    “Funny to see Progressive LABOUR Party scrapping with their mates at British LABOUR Party! ”

    …while speaking with a fake British accent, worshipping Republicans, and holding Obama up as the saviour.
    the PLP are absolutely clueless.