European parliament approves tougher rules on offshore wealth

Vote a boost for reformers and reflects desire to rein in super-rich after Pandora paper revelations

Members of the European parliament have voted for tighter rules on the super-rich who move their wealth offshore, in a resounding vote that reflects widespread anger and exasperation in the wake of the Pandora papers revelations.

Although the European parliament's resolution does not bind EU member states who wield decision-making power on taxation, it puts wind in the sails of reformers, who say transparency changes introduced in the last decade have not gone far enough.