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23 Feb 2009
Switzerland must end its 'intolerable' tax and banking secrecy, said chancellor Alistair Darling.
Darling told the Observer that Switzerland must make its banking and tax regimes more transparent to bring into in line with the rest of Europe.
'I think it's important there is transparency. People don't know what's going on. That's not good. Indeed, half the many problems we have got now is because people didn't know what was going on,' said Darling.
'It's one of the things Switzerland has got to address. If it wants to be part of the international community, it's got to be open. The secrecy that allows people to shelter their wealth from tax that's properly paid - you can't tolerate that. It's unfair to those people who have got no choice but to pay.'
The US taxman is pushing Swiss wealth management firm UBS to reveal details of US account holders who it alleges have withheld tax from the Internal Revenue Service, according to reports.
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Visitor comments Add your comment
Hypocrisy
I think Alistair should focus on our banking/financial issues and his own job than the issues of another country
Posted by: Craig, 23 Feb 2009 | 00:00
Swiss banking
I agree with the above said. We are in this mess because of the Mr Brown did not do his job properly in the first place. There is no way Darling should be blaming Swiss banks for the mess created by himself and Mr Brown.
Posted by: A Kovalova, 25 Feb 2009 | 00:00
Intolerable? That'll be Darling!
Agree with the comment earlier. What is terrible about this is that it is yet another indication of the state wanting to peer more and more into our private lives. We see this with ID cards, travel restrictions and the "nothing to hide nothing to fear" view being held in central government. Darling - stop pressurising a sovereign state into such measures - focus on yourself, the UK, or, if you must meddle, how about adding even a little pressure on Mugabe!!
Posted by: Nick, 25 Feb 2009 | 00:00
Bankers to Beelzebub?
For once Alistair Darling has got it right- the other bizarre comments here have obviously been posted by Swiss bankers or those with deposits themselves! The immorality of secret Swiss banks accounts has been tolerated far too long; from Nazi gold, deposits by countless numerous despots over the years to the hidden proceeds of crime and tax evasion. They would quite happily be bankers to Beelzebub himself- no questions asked!
Posted by: Dave Bicycle, 26 Feb 2009 | 00:00
UK as tax haven
Darling should give the information to Mugabe,Kenya,Nigeria,Botswana and all emerging countries - who hold company accounts in UK .These countries need their lost revenue more for the poor people than the UK bailed out banks. Charity begins at home. Magebe is preparing to place sanctions on UK soon.
Posted by: Yashdra, 11 Apr 2009 | 00:00