By Alasdair Roxburgh | 19 July 2011
Last week I had the pleasure of meeting Raymond Baker, who heads up Global Financial Integrity, an American advocacy and research organisation.
Over the course of an hour he shared with us some of his vast business experience with one insight particularly sticking with me: the only thing preventing greater financial transparency is a ‘lack of political will’.
So, when some bona fide ‘political will’ comes along, as it did today, you seize it with both hands.
This afternoon, David Cameron announced that he supported proposed EU legislation that would require oil, gas and coal companies to reveal the taxes and fees paid to governments in every country where they operate.
In terms of our country-by-country reporting campaign, this is really encouraging stuff, especially as it comes from the prime minister himself.
The European proposals are similar to the Dodd-Frank Act introduced in the US last year and could represent a significant first step towards greater transparency which is crucial in tackling corruption and tax dodging.
The PM's support for greater financial transparency within the extractive sector is warmly welcomed, though - obviously - we’d like to see the PM press for greater transparency across all industries.
The G20 meeting in November is a great opportunity for Cameron to show strong leadership in supporting transparency at a global level – but to help make this happen we need your support.
Take action!
Act now!Call on David Cameron, Nick Clegg and Nicolas Sarkozy to end tax haven secrecy at this year’s G20.
