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David Cameron to open London anti-corruption summit – live David Cameron to open London anti-corruption summit – live
(35 minutes later)
9.33am BST
09:33
Oxfam have organised a protest in Trafalgar Square, with “bankers” in bowler hats on a beach, representing tax havens.
Bermuda and the Cayman Islands are represented at the summit but others, such as the British Virgin Islands, are not.
Campaigners have insisted Britain must go further to tackle corruption than the measures announced today, and insist that the territories’ ownership registers are made public.
In a letter coordinated by Oxfam ahead of the summit, more than 300 economists argued that tax havens produce no economic benefit and “are distorting the working of the global economy.”
Signatories included American academic Jeffrey Sachs of Columbia University, France’s Thomas Piketty and Nobel economics laureate Angus Deaton.
It’s time to #EndTaxHavens 🚫🌴💰RT if you agree @David_Cameron must take tough action today #AntiCorruption pic.twitter.com/KyLbcKzts0
Very 'comfortable' on my tax haven.... #endtaxhavens pic.twitter.com/DygotDbDnt
early morning bankers enjoying their #taxhaven @oxfamcampaigns #EndTaxHavens #anticorruption pic.twitter.com/RKcLFAPt86
Life's a beach if you're a tax dodger. Join our pop up tax haven in Trafalgar Square! #EndTaxHavens #anticorruption pic.twitter.com/tYvEbpwa7W
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9.24am BST
09:24
We’re expecting there to be some protests on the fringes of the summit, with so many world leaders in attendance, though there are relatively few out at the moment, and far outnumbered by police.
9.20am BST
09:20
There’s now a livestream of the arrivals at Lancaster House at the top of this live blog, though we don’t expect there to be anything more than arrivals until 10am.
For now, you can see world leaders being greeted by the Foreign Office minister Hugo Swire, accompanied by some tinkling background music.
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8.55am BST8.55am BST
08:5508:55
Heads of state have begun arriving at Lancaster House for the summit, which begins at 10am with an opening address from David Cameron.Heads of state have begun arriving at Lancaster House for the summit, which begins at 10am with an opening address from David Cameron.
No detailed itinerary for the day has been made public but we’re expecting opening remarks from the prime minister, US secretary of state John Kerry and Nigeria’s President Buhari.No detailed itinerary for the day has been made public but we’re expecting opening remarks from the prime minister, US secretary of state John Kerry and Nigeria’s President Buhari.
Others attending the summit include president of Afghanistan Ashraf Ghani, Jim Yong Kim, president of the World Bank, Colombian president Juan Manuel Santos, Christine Lagarde, managing director of the IMF, Erna Solberg, Norway’s prime minister, Ángel Gurría, secretary-general of the OECD and Maithripala Sirisena, president of Sri Lanka. Others attending the summit include president of Afghanistan Ashraf Ghani, Jim Yong Kim, president of the World Bank, Colombian president Juan Manuel Santos, Christine Lagarde, managing director of the IMF, Erna Solberg, Norway’s prime minister, Ángel Gurría, secretary general of the OECD and Maithripala Sirisena, president of Sri Lanka.
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8.32am BST8.32am BST
08:3208:32
Cameron launches anti-corruption summit in LondonCameron launches anti-corruption summit in London
World leaders, heads of civil society and business are arriving for an anti-corruption summit in the capital. World leaders, heads of civil society and business are arriving for an anti-corruption summit in the UK capital.
Ahead of the summit, the prime minister announced he would introduce a new corporate offence for executives who fail to prevent fraud or money laundering inside their companies, to counter claims that the aims of the summit ring hollow with London’s reputation as the money laundering capital of the world .Ahead of the summit, the prime minister announced he would introduce a new corporate offence for executives who fail to prevent fraud or money laundering inside their companies, to counter claims that the aims of the summit ring hollow with London’s reputation as the money laundering capital of the world .
In an article for the Guardian, Cameron describes corruption as “the cancer at the heart of so many of the world’s problems” and says it destroys jobs, traps the poorest in poverty, weakens security and even undermines sport.In an article for the Guardian, Cameron describes corruption as “the cancer at the heart of so many of the world’s problems” and says it destroys jobs, traps the poorest in poverty, weakens security and even undermines sport.
Here’s how the day will pan out:Here’s how the day will pan out:
The all-day summit at Lancaster House will be attended by the US secretary of state, John Kerry, and world leaders including Muhammadu Buhari, the Nigerian president, and Ashraf Ghani, the president of Afghanistan. Cameron was caught on camera on Tuesday describing both countries as “fantastically corrupt”.The all-day summit at Lancaster House will be attended by the US secretary of state, John Kerry, and world leaders including Muhammadu Buhari, the Nigerian president, and Ashraf Ghani, the president of Afghanistan. Cameron was caught on camera on Tuesday describing both countries as “fantastically corrupt”.
Buhari, who was elected on a mandate to fight corruption did not demand an apology from Cameron, saying the prime minister was “being honest”, but added:Buhari, who was elected on a mandate to fight corruption did not demand an apology from Cameron, saying the prime minister was “being honest”, but added:
Unfortunately, our experience has been that repatriation of corrupt proceeds is very tedious, time consuming, costly ... The repatriation of identified stolen funds should be done without delay or preconditions.Unfortunately, our experience has been that repatriation of corrupt proceeds is very tedious, time consuming, costly ... The repatriation of identified stolen funds should be done without delay or preconditions.
Cameron has made a series of policy pledges to coincide with the launch of the summit.Cameron has made a series of policy pledges to coincide with the launch of the summit.
The summit will also hear a discussion on world sport though Fifa, the football governing body in the midst of a corruption scandal, will not attend.The summit will also hear a discussion on world sport though Fifa, the football governing body in the midst of a corruption scandal, will not attend.
In the spirit of openness, Cameron has pledged that none of the sessions will be held behind closed doors, with all of the discussions live-streamed.In the spirit of openness, Cameron has pledged that none of the sessions will be held behind closed doors, with all of the discussions live-streamed.
UpdatedUpdated
at 8.38am BST at 9.25am BST