U.K. Should Threaten Direct Rule Over Tax Havens, Cable Says

The U.K. should take direct rule over crown dependencies that encourage aggressive tax avoidance and fail to introduce transparent tax reporting, Liberal Democrat leader Vince Cable said on Wednesday.

Responding to the leak of documents revealing the offshore investment and tax affairs of some of the richest people in the world, Cable said the so-called Paradise Papers reveal the need for Britain to extract a price for the protection it provides to the crown dependencies.