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Tax Havens Send ‘Massive Capital’ to London, Lawmaker Says

Offshore financial centers, also known as tax havens, send “massive capital flows” to London and are unduly criticized in the U.K. for secrecy and helping tax avoidance, Conservative party lawmaker Mark Field said.

Field, defending financial centers including Jersey and Guernsey yesterday at a London debate, said they had “endured political attacks” that demonstrated “a fundamental lack of understanding of their function and the benefits.”