In this episode of the Tax Justice Network’s monthly podcast, the Taxcast:
- We look at the United States and how tax justice can help address systemic racism.
- Plus: did you know Britain’s slave owners compensation loan was only settled by the government in 2015 on behalf of taxpayers?
Faulkner wrote: “The past is never dead. It’s not even past.”
As we discuss, the legacy of centuries of institutionalised racism is that a wealth chasm has been created between black and white communities.
We also know that the City of London in Britain built its wealth from slavery and empire. Still today, major finance sectors have extractive business models which impoverish some of the world’s poorest nations. And, financial secrecy is another form of empire.
So how can we think about combining tax justice and reparations? Keval Bharadia‘s work on a super tax on the $8 trillion a day financial markets could help show the way. And all financial institutions must have independent slavery money audits. For those financial institutions now coming forward and offering what they’re calling reparations funds, how do we ensure that these funds are large, they’re targeted to the right places, and they’re ongoing?
A transcript of the programme is available here (not 100% accurate)