The focus of the media on the incredibly inflated supposed losses in tax revenues onshore to the offshore, was inevitably going to appeal to the vast majority of voters who have no idea how offshore financial centers work. The vast majority will also not be aware that sending money to an offshore financial institution is nowadays not going to generate any significant tax savings. Indeed it is easier to set up an EU ONSHORE financial structure in many jurisdictions to gain very lucrative tax advantages.

As such, the offshore centres are being used as the fall guy to take the heat away from the failed regulatory policies of many of the major state bodies around the world.

You don’t need to be intelligent to be a politician. You just need good acting lessons and a taste for sensationalism.

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