Tax havens: Stick to it

The crackdown on tax havens is already being hailed as one of the good things to come out of the financial crisis. Rightly so. Now that punitive tax rates have disappeared, there’s no justification for errant rich states, pesky principalities and dodgy developing nations to profit from helping the rich of the world stay that way. In the weeks before the London G20 summit, most of the main centres of tax relief signed up with what the OECD calls “the internationally agreed tax standard”. Those th...