Next PM Book Club we’ll be discussing Nicholas Shaxson’s ‘Treasure Islands’. Monday, 11th March 6pm at the shop. New members welcomed. A thrilling ride inside the world of tax havens and corporate masterminds While the United States experiences recession and economic stagnation and European countries face bankruptcy, experts struggle to make sense of the crisis. Nicholas Shaxson, a former correspondent for the Financial Times and The Economist, argues that tax havens are a central cause of all these disasters.

In this hard hitting investigation he uncovers how offshore tax evasion, which has cost the U.S. 100 billion dollars in … More

Our next Book Club read is Nicholas Shaxson’s, ‘Treasure Islands’, on Monday 11th March. In this book, Shaxson investigates the three main components of the offshore system, which may surprise you. While the small island states are integral fortifications of the offshore system, the main poles are actually the United States, London, and a grouping of states in continental Europe (mainly Luxembourg, Switzerland, Lichtenstein, and the Netherlands). Considering that about one half of world trade passes through tax havens, they are integral to the current global system.

Also, while terrorists and crime lords are significant users of the offshore system, the primary beneficiary and architect is the … More

Global finance is a system that works for the few and against the many. We need finance – but when finance grows too big it becomes a curse. The City of London is the single biggest drain on our resources; it sucks talent out of every sphere, it siphons wealth and hoovers up government time. Yet to be `competitive’, we’re told we must turn a blind eye to money-laundering and appease big business with tax cuts. We are told global finance is about wealth creation; the reality is wealth extraction.

Tracing the curse back through economic history, Shaxson uncovers how we got to this point. He exposes offshore tax havens; … More