Economists call on world leaders to end tax havens

Thirteen Irish economists have signed a letter to world leaders warning there is no economic justification for allowing tax havens to continue, and urging them to end offshore financial secrecy.

They are among 300 economists from 30 countries to sign the letter ahead of a summit in London on offshore corruption.

Oxfam, which co-ordinated the letter, is calling for an agreement to end offshore secrecy globally, so that closing loopholes in one haven doesn't result in tax dodgers moving their business to another.

Signatories include Thomas Piketty, author of Capital in the Twenty-First Century and Angus Deaton, the current Nobel Prize-winner for economics, as well as Olivier Blanchard, former IMF chief economist.

The Irish signatories are: Dr Nata Duvvury (NUI Galway), Prof Gerard Hughes (TCD), Dr Stephen Kinsella (University of Limerick), Prof Brian Lucey (TCD), Dr Tom McDonnell (Nevin Economic Research Institute), Prof Terrence McDonough (NUI Galway), Dr Nat O’Connor (University of Ulster), Dr Srinivas Raghavendra (NUI Galway), Dr Eoin Reeves (University of Limerick), Dr James Stewart (TCD), Paul Sweeney (Tasc), Michael Taft (Unite the Union) and Prof Paul Teague (Queen’s University Belfast).