Interesting information

Yesterday Michel Sapin, the French Finance Minister, cast doubt on statements by the Treasury and HM Revenue and Customs that British prosecutors’ hands were tied by limitations placed by France on the use of material about HSBC that it handed over in 2010. Only one person in the UK has been prosecuted for tax evasion as a result of the revelations. Mr Sapin told Le Monde: “I have not understood the comments made by the British authorities. The data on HSBC was transmitted to them in 2010, in the framework of the bilateral conventions that bind us. Nothing has been said to them since. These conventions do restrict the use of the information to tax purposes. But if the British tax office wants to bring court cases, it is entitled to do so. The rest is a matter of judicial co-operation.”

So the information can only be used for tax purposes.

6 thoughts on “Interesting information”

  1. Not just French but a politician. Two strikes.

    And one keen to see Miliband gurning at him from No10 (and Balls in No11) rather than the hugely foreheaded one getting another term.

    And that’s out.

  2. What’s the big deal with prosecutions? I’m with Valentine in Trading Places on these matters – the best way of hurting rich people is to make them poorer. Get the tax and interest, get them to pay a whopping fine on it. Much better than wasting taxpayers money on trials and imprisonment.

  3. The Stigler said: “What’s the big deal with prosecutions?”

    Certain experts and an assortment of talking heads, MPs and activists keep trying to convince us that illegal things have taken place. Without prosecutions to show for it their arguments will continue to fall a bit flat and all they can really say is ‘I want to criminalise things I don’t like’.

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