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The world’s hidden wealth

Britain leads the world in offshore finance—it must reform its tax havens

Detail shots of Money from Cayman Islands

Read more: Don’t call them tax havens

Scroll to the bottom to see the take of Bronwen Maddox—Prospect’s Editor

From Britain’s perspective, the most significant element of the recent Panama Papers scandal was David Cameron’s involvement. Amid the 11.5m documents leaked from Mossack Fonseca, the Panamanian law firm, were revelations that forced him to admit he profited from an offshore trust set up by his late father. Though the reported profits of £19,000 were modest, his involvement with the scheme chimed with…

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