U.S., Europe should align finance rules: Singapore finance minister
That’s not all. Immediately after his arrest, he was questioned at Habibganj police station , inaugurated by him in July 2009. Officials said Raghavji was lodged in barrack number 10 in B block which is mainly for undertrials and is divided into two parts. In 2006, he had inaugurated the first part with 12 barracks where a plaque bears his name.
Jim Flaherty: Will he stay (as finance minister) or will he go?
Many of the cabinet dominoes will fall around Flaherty, depending on whether he remains in politics, continues on as finance minister or is shuffled to a new portfolio. Despite his battle with a rare skin disease and potential to make significantly more money in the private sector, Flaherty has said he wants to stay on as finance minister until he balances the budget, something the government has vowed to do by the 2015 election campaign. Flahertys more than seven years on the job amid a global economic crisis make him one of the most important finance ministers of the last half century, say some political observers, but others argue his track record is lacklustre and marked by some unflattering financial legacies. Should the 63-year-old Flaherty leave federal politics, Harper would have a huge hole to fill in arguably his most important cabinet post. The Whitby-Oshawa MP is the longest-serving finance minister in the G8, well liked by MPs on both sides of the House of Commons and is the governments senior minister for the Greater Toronto Area.
“We’ve got to be careful not to always be fighting the last battle, you can’t say for sure what the next crisis is going to be but there will be a next crisis and that’s where supervision is critical.” TAX TRANSPARENCY The finance minister also said he supports the drive from the Group of Eight (G8) economies to improve tax transparency, but said more countries should be involved in their discussions. “We have no problems conceptually and in principle with these new initiatives but implementation is critical and implementation must involve a serious discussion amongst a much broader set of players than the G8,” he said. Singapore serves as a low-tax base for many multinational companies’ Asian headquarters, but Tharman rejects the notion the city-state wants to act as a booking centre for profits made in other countries. “We have no economic benefit in Singapore from attracting profits from the rest of the world to take advantage of low taxes in Singapore, there is no domestic value added, and it’s domestic value added that matters to us, mere booking of profits doesn’t help us in any way.” Singapore, a major banking and wealth management centre, has been gaining ground on Switzerland but wants to avoid the harsh scrutiny its rival is facing from a crackdown on tax evasion and offshore secrecy by governments in Europe and the United States. It said in May it will adopt new measures to make it easier to share details on potential tax evaders with other countries, including the United States, by signing up to a multi-lateral Organisation for Economic Cooperation and Development convention on information sharing.