The recent Pandora Papers showed yet again that the UK and its network of offshore centres play a central role in global illicit financial flows. Official estimates suggest that hundreds of billions of pounds are laundered through the UK every year. They include vast sums flowing from low-income countries to the UK, dwarfing aid and echoing colonial extraction.
These financial flows cause great harm at home and abroad. They are an integral component of corruption that undermines governance and distorts state priorities. They drain state coffers and undermine basic service delivery. They turbocharge inequality while putting brakes on the climate response.
The Joffe Trust supports campaigners working to put the UK’s house in order. We are the most actively engaged donor in this field. Progress has been made in recent years, despite opposition. As experience from Afghanistan to Guinea and the US shows, there is a lot more to be done. The talk will end with an outline of current reform priorities.
IGDC and CAHR