How to stop the super-rich looting our wealth: make it illegal | Phil McDuff

The Paradise Papers expose a business model that lets the few asset-strip the many. Governments have powerful tools to stop this – but do they have the will?

The Paradise Papers has revealed that the amount of money being stashed “offshore” by the UK’s super-rich is greater than we had previously thought. At the same time, the government has launched an inquiry into rising household debt, as the UK’s borrowing reaches levels last seen before the global financial crisis. How is it that a tiny sliver of the population can be banking absurd slabs of wealth while the majority of us go deeper into the red?

Related: Tax avoidance may be legal but it’s bankrupting our social order | Owen Jones

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