Jeremy Corbyn: Paradise Papers prove there’s ‘one rule for the super-rich and another for the rest’ Labour leader Jeremy Corbyn has said the disclosure of the Paradise Papers “proves” that “there’s one rule for the super-rich […]

Labour leader Jeremy Corbyn has said the disclosure of the Paradise Papers “proves” that “there’s one rule for the super-rich and another for the rest when it comes to paying tax.”

The comments come after a leak allegedly reveals that several major global companies have been exploiting offshore schemes to avoid tax.

Queen’s private estate

The Queen’s private estate has been found to have millions of pounds invested in offshore tax havens, according to reports.

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A vast tranche of leaked financial documents, dubbed the Paradise Papers, have been analysed by media organisations, including the BBC and The Guardian.

It is alleged that the Duchy of Lancaster, which handles the Queen’s investments, has held funds in the Cayman Islands and Bermuda.

Around £10 million of the Queen’s private cash is said to have been tied up in offshore portfolios, the BBC reports.

‘Deeply worrying’ allegations

Shadow chancellor John McDonnell added: “These are deeply worrying revelations. Despite all the Government’s claims of cracking down on tax dodgers, this evidence confirms that tax avoidance is clearly continuing on an industrial scale.

“Either the Prime Minister or the Chancellor needs to explain how this scandalous behaviour has been allowed to go on unaddressed for so long and what action is to be taken now.”