The Paradise Papers continue to reveal more about the sad use of tax havens by Canada’s elites.
Recently the CBC found that former Liberal Prime Minister Jean Chrétien had in fact been paid to lobby on behalf of an East African oil company “whose business involved money flowing to tax havens, a notorious Australian fraudster and the lure of billions of barrels of crude, according to the latest major leak of offshore financial documents.”
Furthermore, the former PM received vast stock options, which the PM denies receiving.
Whatever the case Chrétien and the shares, it is clear that Canada’s elites have long been playing by a different set of rules. Brian Mulroney’s name has also been brought up, and top Trudeau fundraisers are in the Paradise Papers as well.
It’s time the Canadian government took action against tag cheats, and those who shelter them.
Context: The Paradise Papers is a set of 13.4 million confidential electronic documents relating to offshore investment that were leaked to the German newspaper Süddeutsche Zeitung. The newspaper shared them with the International Consortium of Investigative Journalists, and some of the details were made public on 5 November 2017.
Thousands Listed: Documents contain the names of more than 120,000 people and companies using lucrative tax havens.
Wealthy and Powerful: Queen Elizabeth II the President of Colombia Juan Manuel Santos, and the U.S. Secretary of Commerce Wilbur Ross are all listed.
Trillion Dollar Value: According to the Boston Consulting Group, the amount of money involved is around $10 trillion.