Commons puts pressure on Crown Dependencies
The leader of the Liberal Democrats has echoed calls by a Labour MP for crown dependencies to make beneficial ownership registers public.
During a debate in the House of Commons today (14 Nov) on tax evasion, Sir Vince Cable said if jurisdictions like the Isle of Man don't make steps toward greater transparency, sanctions could follow.
The comments follow revelations in the 'Paradise Papers', a leak of millions of documents which expose some of the workings of low tax jurisdictions.
Labour's Dame Margaret Hodge, who led the discussion, has called for the 'shroud of secrecy around' offshores to be removed.
However Conservative MP David Morris said measures have already been brought forward which tighten regulation of these jurisdictions: