United Kingdom: EU urged to push UK harder on tackling tax avoidance and money laundering

The EU is being urged to withhold legal permits allowing UK financial services companies easy access to the single market until Brussels gets tougher commitments from London to crack down on money laundering and tax avoidance.

Green MEPs have written to the European Commission complaining that the provisions in the EU-UK trade deal on financial transparency and corporate taxation are insufficiently stringent and urging Brussels to do more to hold the UK’s feet to the fire.

Philippe Lamberts, co-chair of the European Parliament’s green group, and Sven Giegold, a German MEP who is economic policy spokesperson for the Greens/EFA group, write in the letter seen by the Financial Times that the deal does too little to prevent the UK from embracing a “Singapore on Thames” model.

The original full article can be found at ft.com

(Photo: REUTERS/Yves Herman)

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