Or, as Richard would put it, secrecy jurisdictions.
The Swiss have laws that make it a crime for a Swiss bank employee to divulge bank details. This is not a wicked scheme to get the world\’s dirty money but dates from 1934, when German Jews fleeing the Nazis wanted to get their money out as well as their families. Berlin demanded that the Swiss reveal which German citizens were putting their money into Swiss banks. The Swiss quickly passed a law to help Jews which, once adopted, opened the way to anyone else to keep money safely there. Some of it, subsequently, has been bad money, but much has been cash from people frightened of the politics of their country.
If as and when the maniacs take control of the country, what can you do to protect what is yours? Only if there are places out of control of said maniacs can you in fact do anything.
It\’s a very strong argument in favour of competing jurisdictions, ones that do not in fact share all of their information. It\’s just slightly odd to see this argument come from Dennis MacShane, but stopped clocks and all that.