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Chasing overseas money isn't the solution to our economic woes

Let's not forget that money can be held offshore for perfectly legitimate reasons.

One of Nancy Mitford’s characters famously said, 'Abroad is unutterably bloody, and foreigners are fiends'. This is a sentiment apparently shared by HM Revenue & Customs – and, it might be added, much of the popular press and probably most people in the street, so far as tax is concerned. Over the past few years, we have all seen the growth of a worrying assumption that somewhere, out there, guarded by foreigners, is a massive pool of untaxed goodies which ought to belong to the UK and which – if captured – will single-handedly fix our economic woes. 

To read the article in full go to Spear's blog

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