Queen urged to apologise if Paradise Papers tax allegations correct

The Queen. Picture: PA
The Queen. Picture: PA
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The Queen should apologise if her private estate invested £10 million of her personal fortune offshore to avoid paying tax in Britain, Jeremy Corbyn has suggested.

The Labour leader said those involved in the "shocking" Paradise Papers leak of secret documents should apologise if they have invested offshore to avoid tax and also "recognise what it does to our society".

READ MORE: Scott Macnab: Are Scots ready to pay more in tax?

The disclosure of 13.4 million documents reportedly ties major companies and political figures to secretive overseas arrangements.
It includes claims that the Queen has £10 million of her personal fortune invested in an offshore tax haven.

There is no suggestion that those involved acted illegally.

Asked if the Queen should apologise for the offshore investments revealed in the papers, Mr Corbyn told the CBI's annual conference in London: "Well anyone that is putting money into tax havens in order to avoid taxation in Britain, and obviously investigations have to take place, should do two things - not just apologise for it but also recognise what it does to our society.

"Because if the very wealthy person wants to avoid taxation in Britain and therefore put money into a tax haven somewhere, who loses? Schools, hospitals, housing, all those public services lose and the rest of the population have to pay to cover up the deficit created by that.

"And so I think with the Paradise Papers, which I have been reading through like all of us this morning, are quite shocking."

READ MORE: Private estate of the Queen invests millions in tax havens