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The Paradise Papers: How do they work, who is involved & how have we responded?

The release of The Paradise Papers has left over 100 UK millionaires and celebrities red-faced. A number of those responsible have utilised false companies as their personal bank accounts, by using off-shore tax havens such as The Virgin Islands and Bermuda to maintain their hidden riches.

More recently, former England Captain Gary Lineker stated on twitter that he was in no way complicit of this tax evasion.

However, the newly released papers are claiming that even he used an offshore firm to buy a luxurious house in the Caribbean.

The Paradise Papers are a follow up to ‘The Panama Papers’ that were released just over 18 months ago – global outrage and protest was sparked as a result. 10,000 protesters marched on the streets in Reykjavik as Icelandic Prime Minister Sigmundur Davíð Gunnlaugsson was exposed – he subsequently resigned. As well as this, 1,000 people took to Downing Street as former Prime Minister David Cameron was linked with the scandal.

However, the response to the Paradise Papers has been slightly more subdued. 18 months ago, the global political landscape was distant from what it is today. The UK voted to leave Europe, and the far right had a resurgence in the US. A man named Donald Trump came to power, and it’s almost as if these papers have been totally overshadowed by this kind of news. Nonetheless, these affluent culprits have been shamed, and they now know they have nowhere to hide.

 

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