Following Sunday’s Panama Papers leak, several British ‘dependent’ territories, including the Crown Dependencies – Jersey, Guernsey and the Isle of Man – have come under the media spotlight for their involvement in creating and handling offshore structures.
The leak has fuelled widespread criticism that offshore finance centres help the wealthy and large corporations avoid tax, launder money and conceal business arrangements.
Speaking to the BBC in Harlow, Essex, before a speech to launch the Labour Party’s local election manifesto on Tuesday, Mr Corbyn said that territories were encouraging tax avoidance on ‘an industrial scale’ to the detriment of public services in the UK.
Read his full comments in Wednesday’s JEP.
