Confronting the Finance Curse (Poverty from Plenty)

September 18th 2019 – 7pm Onwards


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Summary of the event

The wealthy are getting richer at the expense of the rest of us. Let John Christensen help you see behind the veil of secrecy and complexity which has been constructed to stop us seeing this outrage. An event not to miss.

Description of Event

Doors open at 7:00 p.m. Talk starts at 7:30 p.m.

The event is free but voluntary contributions at the door will be welcomed.  Early booking is recommended

The speaker John Christensen, is Chair of the Board of the Tax Justice Network, which is an expert-led network of economists, finance specialists, lawyers, and others, who work with civil society to expose the corruption of tax havens and the economic and social damage they cause.  He co-produced the documentary film The Spider’s Web: Britain’s Second Empire which provides an excellent introduction to tax havens and the role of the City of London

 

Focus is now firmly on what is known as the Finance Curse. At its core this theory argues that, contrary to widespread assumptions, hosting a super-sized offshore financial centre like the City of London does not promote the development of the UK economy.  In practice the Finance Curse is like the Resource Curse, which stunts the development of resource-rich developing countries such as Angola and Venezuela.

Instead of contributing to wealth creation the City extracts wealth from other regions of Britain, stunting development and undermining democracy.  It is estimated that between 1995 and 2015 the UK economy underperformed to the extent of £4.5 trillion as a direct result of the Finance Curse.

“This meeting addresses one of the key issues we have to tackle if we are to address the grotesque levels of inequality in our country. John Christensen and the Tax Justice Network are the experts in this field whose work has been essential in Labour’s plans for a fair taxation system.”

  • John McDonnel – Shadow Chancellor