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The Foot Report

Simon Sweetman tries to get behind the stereotypes and look at the real world of the UK's very own tax havens
In December 2008 as the financial world seemed to be crumbling the Chancellor of the Exchequer asked Michael Foot to compile a report into the Crown Dependencies and Overseas Territories to identify the opportunities and challenges generated by turmoil in the financial markets and the subsequent impact on the world economy.
Well first of all it's not that Michael Foot but the chairman of the Promontory Financial Group having previously been at the Central Bank of the Bahamas. So (perhaps typically of New Labour) you don't ask a socialist (heaven forbid) but a banker.
It is difficult to understand the report without trying to...

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