Thursday, 12 May 2016

Who? Which Foreigners Really Own Houses In UK? Authorities To Reveal

"Corruption is the cancer at the heart of so many of our problems in the world today," Mr Cameron declares in a forward to a book of essays published at the start of the summit.
"It destroys jobs and holds back growth, costing the world economy billions of pounds every year.
"It traps the poorest in the most desperate poverty as corrupt governments around the world syphon off funds and prevent hard-working people from getting the revenues and benefits of growth that are rightfully theirs.

"It steals vital resources from our schools and hospitals as corrupt individuals and companies evade the taxes they owe."

Foreign companies owning or buying property in the UK will be forced to reveal who really owns them, David Cameron has vowed, as he hosts a major international anti-corruption summit in London.

Any overseas company buying property or bidding for Government contracts will have to sign up to a new public register before the deal can go through, in a move aimed at cracking down on money laundering.

Around 40 countries, including Overseas Territories and Crown Dependencies accused of being tax havens, are poised to pledge to share ownership information as part of the crackdown.

It is estimated that foreign companies own around 100,000 properties across England and Wales, with more than 44,000 in London alone, many of them worth tens of millions of pounds.
Around 50 countries are attending the summit, which is being held at Lancaster House in London and is being attended by presidents and prime ministers from across the world.
Speaking ahead of the summit, Mr Cameron said: "The evil of corruption reaches into every corner of the world.

"It lies at the heart of the most urgent problems we face - from economic uncertainty, to endemic poverty, to the ever-present threat of radicalisation and extremism.

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