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Queen’s private estate invested millions of pounds offshore

Critics are likely to ask why the Queen had money in there in the first place, and the duchy may face awkward questions about whether there was enough oversight and management of the Queen’s “onward investments” to ensure they remained ethical. The duchy has also disclosed investments in “a few overseas funds”, including one in Ireland, and will be under pressure to give details of where the money is being held. Although the estate said it received no tax advantages from investing offshore, the revelations about the finances of the Queen, one of the world’s richest women, will likely re-energise campaign groups and some MPs who have demanded greater scrutiny of royal spending. The disclosures also highlight the lack of transparency that has been a concern for critics, who have railed against the moral ambiguities of the offshore sector and demanded major changes. The details of the Queen’s offshore dealings come from a leak of 13.4m files from two offshore service providers and the company registries of 19 tax havens. Read More… http://ift.tt/2hgUpbv


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