I wish to give one example. The Cayman Islands have a population of about 57,000, yet 92,000 companies are based there and it is estimated by the Bank for International Settlements that $1.4 trillion of bank assets and liabilities are there. My hon. Friend has raised an important question: how on earth can a country that is so small govern what Professor Jeffrey Sachs describes as a financial “time bomb” in its own territory?
Finance Bill
Proceeding contribution from
Kerry McCarthy
(Labour)
in the House of Commons on Monday, 1 July 2013.
It occurred during Debate on bills on Finance Bill.
Type
Proceeding contribution
Reference
565 c700
Session
2013-14
Chamber / Committee
House of Commons chamber
Subjects
Librarians' tools
Timestamp
2014-04-17 21:08:43 +0100
URI
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