‘Panamania’: legitimate concerns or a lack of understanding?

The Panama papers have again put tax on the front page of UK newspapers. There is increasing public demand for a clamp down on perceived ‘tax haven’ exploitation. Whilst some of the concerns that have been raised are legitimate, ‘Panamania’, when driven by a fundamental lack of understanding, casts the net too widely. By making it unacceptable to hold assets offshore we risk becoming an anti-business, anti-wealth jurisdiction.