Report reveals significant pension fund investment links to offshore tax havens

摘要

Hundreds of millions of pounds have been invested by public sector pension funds into Scottish private finance schemes that have links to offshore tax havens, a new report has found.The report by private finance initiative specialist Dexter Whitfield found that nearly 30% of the investments have links to tax havens including the Channel Islands, Dubai and the Cayman Islands.Analysis showed that offshore companies are able to earn more than £1.7bn from these contracts over the next 25 to 30 years, charging interest rates of as much as 13%.The pension funds also gain substantial returns, with the valueof Strathclyde Pension Fund, one of the UK's largest, growing by 12.5%.