13:10 19 May 2013
The recent scandals involving the banking industry have brought a lot of scrutiny from the public as well as the political sectors. It has spawned a movement which encompasses more responsibility from the banking sector, but also prevention of tax evasion which siphons money directly out of an economy.
How cracking down on the banking industry can yield positive results:
These certainly won’t solve all of the problems within the banking industry as well as tax evasion issues, but it’s a significant step towards realizing the problems exist and do impact the country’s economy.
These are concerns for all countries, not just the UK, and the more effort made to ensure the banking industry is fair and doesn’t allow tax evasion manoeuvres, the greater the results will be for many countries.
Once these issues are addressed the economies will be more aptly reflected and will induce trade and profitable global interactions.
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