19th May 2026
Who really governs Britain?
In this video, I explore the hidden political power of the City of London Corporation and the offshore finance network linked to it.
Most people have heard of the City of London, but very few understand that it operates under a unique constitutional structure unlike anything else in the UK.
Businesses vote in its elections. It has its own police force. It enjoys extraordinary political access. And it acts globally on behalf of finance capital.
I argue that the City lies at the centre of the global tax haven system connecting London to Jersey, Guernsey, Cayman, Bermuda, Gibraltar, the British Virgin Islands, and more. Together, these places create a network designed to protect wealth from taxation, regulation, and democratic accountability.
This matters because governments increasingly behave as though the financial sector has veto power over democratic choice. Policies are shaped around “market confidence” rather than public well-being.
I also discuss the reforms required if democracy is to regain control over finance, including transparency, beneficial ownership registers, public reporting, sanctions on secrecy jurisdictions, and the abolition of corporate voting rights within the City itself.
The question is simple: should finance govern democracy, or should democracy govern finance?
TRANSCRIPT
A transcript for this video is available at: https://www.taxresearch.org.uk