Hello, and welcome to the latest Tax Justice Network podcast, the Taxcast.
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In this episode, Taxcast host Naomi Fowler discusses sovereignty, the ‘boomerang effect’ and the relevance of the ‘Third World Movement’ today to our global economic system with Dr Kojo Koram, author of Uncommon Wealth: Britain and the Aftermath of Empire: ‘“Decolonisation, from the 1950s and 1970s, was quite simply the greatest multiplication of democratic power that the world has ever seen”
Plus, we look at two big failures this month:
the collapse of crypto exchange company FTX (secrecy jurisdictions, enablers, investigations)
the Tax Justice Network writes an open letter to alert the G20 to the failings of the OECD as global tax rule-setter, as they miss another deadline
By popular demand here's the transcript of the show (some of it is automated)
"The kind of loss of feeling of control in the United Kingdom, that loss of feeling of sovereignty, that loss of feeling of democratic accountability is connected to the erosion of sovereignty and erosion of democratic accountability that was allowed to happen to the former colonies of particularly the British Empire but all empires. What happens in the colonies doesn’t simply stay there, but it comes back on the homeland and it starts to impact how its economy, its society, and its politics operates. And I think that’s a lot of what we see in Britain right up until today.”
~ Dr Kojo Koram
"What we’re asking the G20 to do is to reconsider the mandates that it’s been giving the OECD, asking the OECD to lead on international tax. After 10 years it’s clear that the OECD has failed to deliver the substantive reforms of international tax rules that we all need, and so the latest estimate we have is 483 billion dollars of lost revenues each year around the world disproportionately suffered by lower income countries, but actually, the biggest amounts being lost to OECD members themselves. This is neither inclusive in its processes, nor effective in its outcomes“