The house next door to you is owned by President Assad, the one up the street by Putin
There are over 100,000 properties owned by tax havens in the UK alone. Yet the recent leaked documents from Panama's Mossack Fonseca suggest that company allowed dictators to illegally hide their cash and invest it in property. Mossack Fonseca also help UK investors pretend they are not running their own company to avoid paying property taxes when they sell their houses, the BBC's Panorama has reported.
What is alarming is that Panama is just one tax haven, and Mossack Fonseca is just one company. How many others are doing the same thing? The ultimate solution is not transparency, as David Cameron has called for rather timidly, but the closure of all tax havens across the world. Failure to do so implicates all world leaders in the evasion that eats away at the tax base needed to stop a hospital from going into the red, or to train a new teacher. Our leaders are either with us, the people, or with the tax avoiders. There is no third way, as Mr Cameron insists. He who has questions to answer on his own father's dealings with Panama ought to appear whiter than that.