3min chapter

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Is Britain one of the most corrupt countries in the world?

RSA Conversations

CHAPTER

How the UK Are Leaked?

There is a constant tension between accidental discoveries of loopholes and the maintenance of the loophole after it's been revealed. Scottish limited partnerships were used to launder incredible amounts of money out of the former soviet union. Yet, because private equity, also using them, was making use of the same loopholes that the money laundress enjoyed, the treasury insisted on maintaining them. These things are not designed, as a rule. But having been discovered, then you get this real lobby fighting to retain the loopholes that existBecause they are just so profitable for the class of people who move money through them.

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