Donald J. Trump joined Yahoo Finance for a vast ranging conversation masking topics this kind of as the U.S. financial state, COVID-19 vaccines, cryptocurrencies, and his imagining on a 3rd run for the presidency in 2024. The entire job interview will be unveiled on Monday.
Former President Donald Trump explained to Yahoo Finance that he was noncommittal on the subject matter of a hypothetical 2024 rematch with his successor — but produced a daring prediction about his skill to prevail in a Republican key that may possibly contain Florida Governor Ron DeSantis.
Like it or not, the next presidential campaign has been underway for months, and frequent visits to Iowa by 2024 hopefuls are currently a matter.
On the Republican facet, Trump would obviously be an overpowering beloved if he gets into the race. He’s been coy about his intentions, but dove into his thinking on what a 2024 contest may well glance like in a broad-ranging interview with Yahoo Finance Stay.
The former president was self-confident about his likelihood if he determined to operate, even if it meant a prospective head-to-head matchup with DeSantis, another GOP favored.
“If I confronted him, I’d beat him like I would defeat anyone else,” Trump declared, even as he claimed he will not truly anticipate a showdown.
“I will not consider I will encounter him,” he predicted about what DeSantis and other Republicans would do if he got into the race. “I believe most folks would fall out, I assume he would drop out.”
The Florida governor is now up for reelection in 2022, and he says he is not searching over and above that race. “I’m not contemplating everything beyond carrying out my work,” he a short while ago advised Fox News, introducing “we’ve acquired a great deal of stuff going on in Florida.”
The early polls
Then-President Donald Trump and Florida Governor Ron DeSantis at a COVID-19 and storm preparedness roundtable in Florida in 2020. (SAUL LOEB/AFP by using Getty Pictures)
Polling can be pretty unreliable several years right before any genuine votes are forged. Nevertheless surveys of the discipline so considerably have constantly proven DeSantis sitting down atop a most likely crowded area as the most formidable obstacle to a 3rd GOP nomination in a row for Mr. Trump.
Just one modern survey in certain elevated eyebrows with the getting that DeSantis and Trump had been approximately tied.
That seem at the race, commissioned by a Super PAC of former Trump aide turned vocal Trump critic John Bolton, uncovered Mr. Trump with the assistance of 26.2 {1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of Republican voters. He was carefully adopted by Mr. DeSantis at 25.2 p.c.
Other polls, however, have painted a much far more flattering image to Mr. Trump of his continued level of popularity. An Emerson College poll from early September observed Trump trouncing DeSantis 67{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to 10{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in a 8-man or woman discipline. That exact same poll found him narrowly beating President Biden in a hypothetical head-to-head general election matchup.
Similarly, otherpolls from this summertime located DeSantis polling very well under Trump, but in the top tier of possible challengers to the previous president.
‘We had the finest economy’
In response to President Joe Biden’s sagging reputation — undermined by the mismanaged withdrawal from Afghanistan and the Democrat’s stalled financial agenda — the former president has ratcheted up his interviews and political functions in current months, and sharpened his criticism about the incumbent.
In a recent movie posted to Twitter, Trump ally Rep. Jim Jordan (R.-Oh) explained he realized directly that the former President would operate yet again based mostly on conversations with him. Jordan added an apart that “he’s about to announce after all this craziness in Afghanistan.”
Trump himself has continuously arrive ideal up to the line of asserting a bid. Previous month, he toyed with his ex press secretary Sean Spicer, by declining to remark to a 2024 run, “but I will explain to you I feel you will be extremely satisfied Sean.”
For the duration of his dialogue with Yahoo Finance, Trump recurring that he was nonetheless weighing his options, and typically returned to an economic information that could be showcased in an election campaign.
He observed several occasions all through the conversation that the economic climate experienced been “really getting completely ready to rock” right before the COVID-19 pandemic and subsequent economic downturn. “We did a position that nobody’s performed and had COVID not arrive and interrupted: we had the finest economic climate.”
Nonetheless as at any time, the former president stretched the real truth when listing his economic achievements. A person instance was when he cited the 2017 Tax Cuts and Employment Act as the “most significant tax cuts in background,” a assert he’s produced for many years that point checkers have usually pointed out is not legitimate.
Calculated as a percentage of gross domestic item, Trump’s tax cuts could end up remaining only the eighth biggest in U.S. historical past.
In any situation, Trump is clearly primed to stoke speculation about his 2024 strategies. His subsequent ways include a trip to Iowa, prepared for future weekend.
Ben Werschkul is a writer and producer for Yahoo Finance in Washington, DC.
Read through the latest monetary and company news from Yahoo Finance
The European Union flag flies at half mast outdoors EU Fee Headquarters in Brussels, Belgium. (Carl Court docket/Getty Pictures)
The European Union in collaboration with German International Inhabitants Task and supported by Jaiz Bank Plc, have uplifted the financial viability of 280 Micro, Modest and Medium Enterprises (MSME’s) in the garment and leather sectors in Kano.
The personal initiative anchored underneath Nigeria Competitiveness Undertaking (NICOP) was targeted to uplift the serious sector of Nigeria economic climate through technological ability enhancement, accessibility to the current market and provision of economical assistance to increase MSMEs in Kano.
The NICOP initiative staying applied in eight states which include Abia, Kano, Kaduna, Katsina, Lagos, Ogun, Oyo and Plateau focuses on 4 key price chains of tomato, ginger, leather and garments.
The pilot plan, made to eradicate poverty, make position chances and sustainable financial growth, enabled beneficiaries with financial literacy skills furnished by GIZ, whilst Jaiz financial institution presents zero loan facility to expand the company.
Speaking at the formal launch of the micro-funding scheme for MSMEs in the garment and leather-based marketplace, yesterday in Kano, the Regional Supervisor, Jaiz Lender, North West, Hajia Naima Abdullahi, disclosed that the non-interest economical establishment is supporting the undertaking as aspect of corporate tactic to advertise the economic system.
Hajia Naimo, who introduced a cheque of N200 million to 4 clusters of garment and leather entrepreneurs, reminded that the lender was ready to multiply the facility as extensive as the beneficiaries fulfil problems linked with it.
She stated that Jaiz is embarking on two yrs strategic prepare to bolster economic inclusion as a result of a special non-interest micro-credit history facility.
Moreover, the regional supervisor stressed the commitment of the company institution to encourage saving tradition, Islamic insurance policy and enabling unique platforms for totally free healthcare providers in the region. She thought the new scheme will verify safety worries with occupation alternatives to the unemployed youth population in the state.
On his element, the Obtain to Finance Financial commitment Supervisor, GIZ, Yakubu Musa Paiko, spelled out that the involved associates are dedicated to equipping entrepreneurs with technological capabilities to boost top quality production.
A medical doctor, Olusola Adeyelu, has urged the Federal High Court in Abuja to declare the membership of the Nigerian Medical Association (NMA), the umbrella body of medical and dental practitioners in Nigeria, as voluntary.
In the suit in which the Medical and Dental Council of Nigeria (MDCN) and the Nigerian Medical Association (NMA) are sued as the defendants, the plaintiff urged the court to declare him free of any financial obligation to the association following his resignation as a member in April 2019.
He also wants the court to issue an order of perpetual injunction restraining MDCN from further subjecting him to mandatory payment of building levies or any other levies imposed by NMA for his rights as a medical practitioner to be recognised.
His lawyer, Tope Temokun, argued in the suit that the MDCN’s imposition of NMA’s building levies and other financial tasks on him for his practising licence to be renewed was in violation of section 40 of the Nigerian constitution, which guarantees freedom of association and dissociation from the NMA.
The plaintiff also urged the court to hold that the NMA lacks the power to impose or continue to enforce its financial resolution or its building levies on him.
In an affidavit in support of the originating summons, Mr Adeyelu said while the MDCN was a creation of the National Assembly with the sole mandate of regulating medical practice in Nigeria, the NMA was a private organisation, registered under the Companies and Allied Matters Act (CAMA).
The plaintiff said he never indicated interest of becoming a member of the NMA, the umbrella body of medical doctors in Nigeria, adding that upon his induction into the medical profession, he was automatically conscripted into the association.
“Although the 2nd defendant (NMA) is a voluntary association but has been operating in a manner that portrays it as a mandatory association for the medical practitioners in Nigeria.
“It is commonplace that every medical practitioner became conscripted through payment of annual practising fee to the 1st defendant (MDCN), which money is legislated to be subject to sharing formula of 30 per cent -70 per cent between the 1st defendant and the 2nd defendant,” Mr Adeyelu said in an affidavit filed in support of the suit.
He said as a result of the inextricable ties between the MDCN and the NMA, he had no choice to exercise in choosing the membership of the NMA.
“That it was through this statutory anomaly, which robbed me of the free exercise of right to choose membership of a supposedly voluntary association that I became a member of the 2nd defendant upon my induction.
“That to be eligible to lawfully practise my profession as a medical practitioner in a year, I am required by law to pay a medical practising fee to the 1st defendant (MDCN) before the 31 December of the preceding year.
“The implication of the above is that, even as a qualified medical practitioner in Nigeria, legally registered to practice medicine in Nigeria by the 1st defendant (MDCN), if I did not pay my annual practicing fee, from 1 December to ` December, before the end of every year, practicing license is deemed to have expired or lapse, since renewal of license is a result or offshoot of payment of annual practicing fee,” the plaintiff explained.
The doctor further revealed he had suffered deprivations with debilitating effects on his health as a result of happenings in the association (NMA).
“In order to save myself of the mental agony of sharing burden, financial burden of an association from which I derive no cognisable corresponding benefit, I resolved to resign my membership of the association of the 2nd defendant (NMA),” Mr Adeyelu said.
‘NMA membership not compulsory for doctors’
Both the MDCN and NMA have filed separate counter-affidavits urging the court to dismiss the suit.
They argued in their separate court filings that NMA membership was not compulsory for doctors.
Francis Ali, MDCN’s Head, Practising Licence, said in a counter-affidavit that Mr Adeyelu “was not forcefully conscripted” by the council to join NMA.
He added that “the plaintiff has the discretion to choose whether or not to be a member of the 2nd defendant (NMA)”.
He also said the MDCN never insisted on the payment of NMA’s building levy “as a precondition for mandatory renewal of the practising licence of the plaintiff”.
The MDCN admitted that section 14(4) of the Medical and Dental Practitioner Act prescribed a formula of 70-30 for sharing the practising fees paid by practitioners between NMA and MDCN, but noted that it did not amount to robbing Mr Adeyelu of his right to freedom of association.
“How the proceeds from practising fees paid by medical and dental practitioners is utilised is not within the rights of the plaintiff to challenge,” MDCN’s filing added.
The NMA similarly said medical personnel automatically became a member of the association upon induction into the medical profession, but, like every Nigerian, “has the right to either continue to be part of the association by comply with requisite conditions for eligibility or renounce its membership”.
Philips Ekpe, NMA’s secretary-general, who deposed to the association’s counter-affidavit, said Mr Adeyelu had ceased to be a member since his resignation through his letter dated 19 April, 2019.
Mr Ekpe added that the issue of building levy raised by the plaintiff had been decided by the Federal High Court, Enugu division, in a suit between Fedrick Awkadigwe vs MDCN and another defendant.
“The said judgement is subject to appeal at the appellate court,” he added.
Plaintiff faults MDCN, NMA
The plaintiff in his further responses has faulted the claims by MDCN and NMA.
He noted that contrary to their claim of voluntariness of NMA membership and despite his resignation as a member, he was left with no choice or discretion to choose whether or not to pay the association’s annual fee because the mandatory annual practising paid to MDCN “is cojoined with the annual association fee of the 2nd defendant (NMA).”
He noted that the share of NMA “constitutes the 70 per cent of my mandatory practising fees paid to MDCN yearly “for my practising licence renewal.”
He urged the court to stop the MDCN from further remitting 70 per cent of his practising licence renewal fee to the NMA, as he had ceased to be a member of the association.
Mr Adeyenlu also noted that the defendants continued to make payment of the association’s building levy as precondition for renewing his licence despite his resignation.
“I submit as a matter of fact that after having resigned my membership of the 2nd defendant (NMA)vide a letter dated 19 April 2019, I logged on to the website of the 1st defendant (MDN) to complete the process of my licence renewal, but surprisingly came to a halt when I got to a column requesting the confirmation of payment of the 2nd defendant’s building levy, invariably making it impossible for me to severe myself from any form of financial obligation to the 2nd defendant (NMA)”.
He also said the declarations and orders made by the Federal High Court in Enugu mentioned by the NMA “are in the most part distinct from the prayers sought” in his suit.
The trial judge, Donatus Okorowo, has 10 November for hearing.
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
The secret deals and hidden assets of some of the world’s richest and most powerful people have been revealed in the biggest trove of leaked offshore data in history.
Branded the Pandora papers, the cache includes 11.9m files from companies hired by wealthy clients to create offshore structures and trusts in tax havens such as Panama, Dubai, Monaco, Switzerland and the Cayman Islands.
They expose the secret offshore affairs of 35 world leaders, including current and former presidents, prime ministers and heads of state. They also shine a light on the secret finances of more than 300 other public officials such as government ministers, judges, mayors and military generals in more than 90 countries.
The files include disclosures about major donors to the Conservative party, raising difficult questions for Boris Johnson as his party meets for its annual conference.
More than 100 billionaires feature in the leaked data, as well as celebrities, rock stars and business leaders. Many use shell companies to hold luxury items such as property and yachts, as well as incognito bank accounts. There is even art ranging from looted Cambodian antiquities to paintings by Picasso and murals by Banksy.
The Pandora papers reveal the inner workings of what is a shadow financial world, providing a rare window into the hidden operations of a global offshore economy that enables some of the world’s richest people to hide their wealth and in some cases pay little or no tax.
Quick Guide
What are the Pandora papers?
Show
The Pandora papers are the largest trove of leaked data exposing tax haven secrecy in history. They provide a rare window into the hidden world of offshore finance, casting light on the financial secrets of some of the world’s richest people. The files were leaked to the International Consortium of Investigative Journalists (ICIJ), which shared access with the Guardian, BBC and other media outlets around the world. In total, the trove consists of 11.9m files leaked from a total of 14 offshore service providers, totalling 2.94 terabytes of information. That makes it larger in volume than both the Panama papers (2016) and Paradise papers (2017), two previous offshore leaks.
Where did the Pandora documents from come?
The ICIJ, a Washington DC-based journalism nonprofit, is not identifying the source of the leaked documents. In order to facilitate a global investigation, the ICIJ gave remote access to the documents to journalists in 117 countries, including reporters at the Washington Post, Le Monde, El País, Süddeutsche Zeitung, PBS Frontline and the Australian Broadcasting Corporation. In the UK, the investigation has been led by the Guardian and BBC Panorama.
What is an offshore service provider?
The 14 offshore service providers in the leak provide corporate services to individuals or companies seeking to do business offshore. Their clients are typically seeking to discreetly set up companies or trusts in lightly regulated tax havens such as the British Virgin Islands (BVI), Panama, the Cook Islands and the US state of South Dakota. Companies registered offshore can be used to hold assets such as property, aircraft, yachts and investments in stocks and shares. By holding those assets in an offshore company, it is possible to hide from the rest of the world the identity of the person they actually belong to, or the “beneficial owner”.
Why do people move money offshore?
Usually for reasons of tax, secrecy or regulation. Offshore jurisdictions tend to have no income or corporation taxes, which makes them potentially attractive to wealthy individuals and companies who don’t want to pay taxes in their home countries. Although morally questionable, this kind of tax avoidance can be legal. Offshore jurisdictions also tend to be highly secretive and publish little or no information about the companies or trusts incorporated there. This can make them useful to criminals, such as tax evaders or money launderers, who need to hide money from tax or law enforcement authorities. It is also true that people in corrupt or unstable countries may use offshore providers to put their assets beyond the reach of repressive governments or criminal adversaries who may try to seize them, or to seek to circumvent hard currency restrictions. Others may go offshore for reasons of inheritance or estate planning.
Has everyone named in the Pandora papers done something wrong?
No. Moving money offshore is not in or of itself illegal, and there are legitimate reasons why some people do it. Not everyone named in the Pandora papers is suspected of wrongdoing. Those who are may stand accused of a wide range of misbehaviour: from the morally questionable through to the potentially criminal. The Guardian is only publishing stories based on leaked documents after considering the public interest. That is a broad concept that may include furthering transparency by revealing the secret offshore owners of UK property, even where those owners have done nothing wrong. Other articles might illuminate issues of important public debate, raise moral questions, shed light on how the offshore industry operates, or help inform voters about politicians or donors in the interests of democratic accountability.
There are emails, memos, incorporation records, share certificates, compliance reports and complex diagrams showing labyrinthine corporate structures. Often, they allow the true owners of opaque shell companies to be identified for the first time.
The files were leaked to the International Consortium of Investigative Journalists (ICIJ) in Washington. It shared access to the leaked data with select media partners including the Guardian, BBC Panorama, Le Monde and the Washington Post. More than 600 journalists have sifted through the files as part of a massive global investigation.
The Pandora papers represent the latest – and largest in terms of data volume – in a series of major leaks of financial data that have convulsed the offshore world since 2013.
Setting up or benefiting from offshore entities is not itself illegal, and in some cases people may have legitimate reasons, such as security, for doing so. But the secrecy offered by tax havens has at times proven attractive to tax evaders, fraudsters and money launderers, some of whom are exposed in the files.
Other wealthy individuals and companies stash their assets offshore to avoid paying tax elsewhere, a legal activity estimated to cost governments billions in lost revenues.
After more than 18 months analysing the data in the public interest, the Guardian and other media outlets will publish their findings over the coming days, beginning with revelations about the offshore financial affairs of some of the most powerful political leaders in the world
They include the ruler of Jordan, King Abdullah II, who, leaked documents reveal, has amassed a secret $100m property empire spanning Malibu, Washington and London. The king of Jordan declined to answer specific questions but said there would be nothing improper about him owning properties via offshore companies. Jordan appeared to have blocked the ICIJ website on Sunday, hours before the Pandora papers launched.
The Azerbaijan president, Ilham Aliyev, and his wife, Mehriban Aliyeva. The Aliyev family has traded close to £400m of UK property in recent years. Photograph: Anadolu Agency/Getty Images
The files also show that Azerbaijan’s ruling Aliyev family has traded close to £400m of UK property in recent years. One of their properties was sold to the Queen’s crown estate, which is now looking into how it came to pay £67m to a company that operated as a front for the family that runs a country routinely accused of corruption. The Aliyevs declined to comment.
The Pandora papers also threaten to cause political upsets for two European Union leaders. The prime minister of the Czech republic, Andrej Babiš, who is up for election this week, is facing questions over why he used an offshore investment company to acquire a $22m chateau in the south of France. He too declined to comment.
The Czech prime minister, Andrej Babiš, is facing questions over why he used an offshore investment company to acquire a $22m chateau in the south of France. Photograph: Milan Kammermayer/EPA
And in Cyprus, itself a controversial offshore centre, the president, Nicos Anastasiades, may be asked to explain why a law firm he founded was accused of hiding the assets of a controversial Russian billionaire behind fake company owners. The firm denies any wrongdoing, while the Cypriot president says he ceased having an active role in its affairs after becoming leader of the opposition in 1997.
Not everyone named in the Pandora papers is accused of wrongdoing. The leaked files reveals that Tony and Cherie Blair saved £312,000 in property taxes when they purchased a London building partially owned by the family of a prominent Bahraini minister.
The former prime minister and his wife bought the £6.5m office in Marylebone by acquiring a British Virgin Islands (BVI) offshore company. While the move was not illegal, and there is no evidence the Blairs proactively sought to avoid property taxes, the deal highlights a loophole that has enabled wealthy property owners not to pay a tax that is commonplace for ordinary Britons.
Tony and Cherie Blair bought a £6.5m office in Marylebone by acquiring a British Virgin Islands offshore company. Photograph: WPA Pool/Getty Images
The leaked records vividly illustrate the central coordinating role London plays in the murky offshore world. The UK capital is home to wealth managers, law firms, company formation agents and accountants. All exist to serve their ultra-rich clients. Many are foreign-born tycoons who enjoy “non-domicile” status, which means they pay no tax on their overseas assets.
The Ukrainian president, Volodymyr Zelenskiy, is also named in the leak. Photograph: Anadolu Agency/Getty Images
Ukraine’s president, Volodymyr Zelenskiy, who was elected in 2019 on a pledge to clean up his country’s notoriously corrupt and oligarch-influenced economy, is also named in the leak. During the campaign, Zelenskiy transferred his 25{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} stake in an offshore company to a close friend who now works as the president’s top adviser, the files suggest. Zelenskiy declined to comment and it is unclear if he remains a beneficiary.
The Russian president, Vladimir Putin, whom the US suspects of having a secret fortune, does not appear in the files by name. But numerous close associates do, including his best friend from childhood – the late Petr Kolbin – whom critics have called a “wallet” for Putin’s own wealth, and a woman the Russian leader was allegedly once romantically involved with. None responded to invitations to comment.
The Pandora papers also place a revealing spotlight on the offshore system itself. In a development likely to prove embarrassing for the US president, Joe Biden, who has pledged tolead efforts internationally to bring transparency to the global financial system, the US emerges from the leak as a leading tax haven. The files suggest the state of South Dakota, in particular, is sheltering billions of dollars in wealth linked to individuals previously accused of serious financial crimes.
The offshore trail also stretches from Africa to Latin America to Asia, and is likely to pose difficult questions for politicians across the world. In Pakistan, Moonis Elahi, a prominent minister in prime minister Imran Khan’s government, contacted an offshore provider in Singapore about investing $33.7m.
Kenya’s president, Uhuru Kenyatta, will come under pressure to explain why he and his close relatives amassed more than $30m of offshore wealth. Photograph: Yasuyoshi Chiba/AFP/Getty Images
In Kenya, the president, Uhuru Kenyatta, has portrayed himself as an enemy of corruption. In 2018, Kenyatta, he told the BBC: “Every public servant’s assets must be declared publicly so that people can question and ask: what is legitimate?”
He will come under pressure to explain why he and his close relatives amassed more than $30m of offshore wealth, including property in London. Kenyatta did not respond to enquiries about whether his family wealth was declared to relevant authorities in Kenya.
The Pandora papers also reveal some of the unseen repercussions of previous offshore leaks, which spurred modest reforms in some parts of the world, such as the BVI, which now keeps a record of the real owners of companies registered there. However, the newly leaked data shows money shifting around offshore destinations, as wealthy clients and their advisers adjust to new realities.
Some clients of Mossack Fonseca, the now defunct law firm at the heart of the 2016 Panama papers disclosures, simply transferred their companies to rival providers such as another global trust and corporate administrator with a major office in London, whose data is in the new trove of leaked files.
Asked why he was migrating the new company, one customer wrote bluntly: “Business decision to exit following the Panama papers.” Another agent said the industry had always “adapted” to external pressure.
Some leaked files appear to show some in the industry seeking to circumvent new privacy regulations. One Swiss lawyer refused to email the names of his high-value customers to a service provider in the BVI, following new legislation. Instead, he sent them by airmail, with strict instructions they should not be processed in any “electronic way”. The identity of another beneficial owner was shared via WhatsApp.
“The purpose of this way to proceed is to enable you to comply with BVI rules,” the lawyer wrote. Referring to Mossack Fonseca, the lawyer added: “You are obliged to keep secrecy for our clients and to not make feasible at all a second ‘Panama papers’ story that happened to one of your competitors.”
Gerard Ryle, the director of the ICIJ, said leading politicians who organised their finances in tax havens had a stake in the status quo, and were likely to be an obstacle to reform of the offshore economy. “When you have world leaders, when you have politicians, when you have public officials, all using the secrecy and all using this world, then I don’t think we’re going to see an end to it.”
Do you have information about this story? Email investigations@theguardian.com, or use Signal or WhatsApp to message (UK) +44 7584 640566 or (US) +1 646 886 8761
He expected the Pandora papers to have a greater impact than previous leaks, not least because they were arriving in the middle of a pandemic that had exacerbated inequalities and forced governments to borrow unprecedented amounts to be shouldered by ordinary taxpayers. “This is the Panama papers on steroids,” Ryle said. “It’s broader, richer and has more detail.”
At least $11.3tn in wealth is held offshore, according to a 2020 study by the Paris-based Organisation for Economic Co-operation and Development (OECD). “This is money that is being lost to treasuries around the world and money that could be used to recover from Covid,” Ryle said. “We’re losing out because some people are gaining. It’s as simple as that. It’s a very simple transaction that’s going on here.”
Pandora papers reporting team: Simon Goodley, Harry Davies, Luke Harding, Juliette Garside, David Conn, David Pegg, Paul Lewis, Caelainn Barr, Rowena Mason and Pamela Duncan in London; Ben Butler and Anne Davies in Sydney; Dominic Rushe in New York; Andrew Roth in Moscow; Helena Smith in Athens; Michael Safi in Lebanon; Robert Tait in Prague.
Support independent investigative Guardian journalism
