{"id":200184,"date":"2021-06-15T18:37:00","date_gmt":"2021-06-15T23:37:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2021\/06\/15\/because-the-city-of-london-owns-england\/"},"modified":"2021-06-15T18:37:00","modified_gmt":"2021-06-15T23:37:00","slug":"because-the-city-of-london-owns-england","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2021\/06\/15\/because-the-city-of-london-owns-england\/","title":{"rendered":"Because the City of London Owns England"},"content":{"rendered":"<p>Following announcements by G-7 countries about standardizing a minimum tax for trans-national corporations and cracking down on tax evasion and tax havens, the UK has decided to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-08\/u-k-pushes-for-city-of-london-exemption-from-global-tax-deal\">go to the mat for its finance industry<\/a>, AKA the &#8220;City of London&#8221;, whose core competency is tax evasion and money laundering:<\/p>\n<\/p>\n<blockquote><p><span style=\"color: #2b00fe;\">U.K. Chancellor of the Exchequer Rishi Sunak is pressing for the City of London to be exempt from a plan by global leaders to make multinationals pay more tax to the countries where they operate.<\/p>\n<p>Finance ministers from the Group of Seven advanced economies struck a historic deal last weekend that could force the world\u2019s biggest companies to pay a minimum corporate tax rate of 15%.<\/p>\n<p>Sunak is expected to make the case that financial services, including global banks with head offices in London, should be exempt from the plan when talks move to the G-20 next month.<\/p>\n<p>\u2026\u2026\u2026<\/p>\n<p>A European Union official pushed back against the idea of an exemption. The EU expects all companies to pay their fair share of taxation, the official said at a briefing for journalists on Wednesday.<\/span><\/p><\/blockquote>\n<p>If they get an exemption, the City of London will spend its time turning client companies, and their subsidiaries into finance institutions so that hey can continue to evade taxes.<\/p>\n<p>The UK would be hurt by this as much as any other nation, but they are the poodles of their finance industry, they have been since at least Margaret Thatcher.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following announcements by G-7 countries about standardizing a minimum tax for trans-national corporations and cracking down on tax evasion and tax havens, the UK has decided to go to the mat for its finance industry, AKA the &#8220;City of London&#8221;, whose core competency is tax evasion and money laundering: U.K. Chancellor of the Exchequer Rishi &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1051,1017,985,1286],"tags":[],"class_list":["post-200184","post","type-post","status-publish","format-standard","hentry","category-hypocrisy","category-international-finance","category-regulation","category-uk"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/200184"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=200184"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/200184\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=200184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=200184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=200184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}