Tag Archives: PwC

Criminal Fraud is Routine in the Biggest Banks: Time to Prosecute the Bankers

There was a period of remorse and apology for banks- I think that period needs to be over. Bob Diamond, Group Chief Executive of Barclays plc. On Wednesday, the Commodity Futures Trading Commision (CFTC), US Department of Justice and UK Financial Services (FSA) authority released their statements on Barclays, which is facing a fine of some $450 million. They revealed systematic, routine fraud in the organisation, […]

Private Finance Initiatives are a huge ticking time-bomb of debt

These deals represent a colossal public subsidy to select private companies, all hidden from the taxpayer “…apparent savings [from PFI] now could be countered by the formidable commitment on revenue expenditure in years to come.” Alistair Darling, 1997 (As transport secretary 2003-2006, Alistair Darling supported major new PFI projects) The government’s use of PFI [the private finance initiative] […]

Tax Havens are threatening our Democracy

Following the writing of the US constitution in 1789, Benjamin Franklin famously wrote: Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes. But increasingly, as the recent revelations about Jimmy Carr and Gary Barlow remind us, taxes are […]