OXFAM: TAX CHEATS COST TREASURY £5BN
A report by Oxfam estimates tax cheats have cost the Treasury £5bn in lost revenue
The charity believes more than £170bn owned by the wealthiest Britons is being held offshore in locations such as the Cayman Islands and Bermuda, costing the exchequer £5bn in lost taxes every year
Oxfam’s research also indicates the richest 1% of Britons, a group solely comprising of millionaires, have received more than a quarter of the £4trn increase in national wealth since 2000
In addition, it reveals men have benefited far more from tax cuts for top earners than women
Cutting the top rate from 50p to 45p four years ago helped 16% of women but 84% of men, the research suggests
Sources - Daily Mail, The Guardian, The Independent, Daily Mirror,
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