Issue link: https://maltatoday.uberflip.com/i/934206
maltatoday WEDNESDAY 31 JANUARY 2018 News 5 be huge because these are re- sponsible for almost a third of all global financial secrecy, since they represent almost 60% of all offshore financial services. It is also likely that if the US, Swit- zerland and others decided to become more transparent, they would also push other countries to follow them, and so the im- pact would be even larger." The Financial Secrecy Index ranks every jurisdiction accord- ing to its actual contribution to harmful financial secrecy glob- ally. It's not a typical blacklist because it doesn't distinguish between "tax havens" and "cleaner" countries, but assesses and ranks every jurisdiction. Liz Nelson, Tax Justice Net- work Director responsible for the Tax Justice and Human Rights programme said: "Secrecy jurisdictions are a safe haven for the world's dirty money. Kleptocrats, tax evaders and multinationals engaging in tax trickery all abuse secrecy ju- risdictions. "The damage being done to public services around the world is incalculable, and the violations in human rights are severe, whether this be through a lack of access to clean drink- ing water in sub-Saharan Af- rica, or the pressures facing public health services in the UK and US. "If we are to live in a better world, more equitable where our social and human rights are protected, we need to end finan- cial secrecy." mvella@mediatoday.com.mt financial STRICKLAND House in Valletta is up for sale and the company that owns it, Allied Newspapers, is accepting offers for the building until 23 March. The company had been planning to sell the Valletta building. It is unclear what to- day's asking price is but industry sources told MaltaToday the company had been reportedly offered €13.5 million a few months ago. However, a company spokes- person, reacting to the story, categorically denied that the building's asking price had been €13.5m. Allied Newspapers moved its printing press out of the building to its new prem- ises in Mriehel in 2011. The Times of Malta newsroom and other administrative staff vacated the Valletta building in the sum- mer of 2017. In the tender brief, Strickland House is described as the "largest, privately-owned building for sale in Valletta". Strickland House is five floors high and occupies a prime location opposite Au- berge de Castille, something the sellers are clearly vaunting. "The unique and un- paralleled location of this one-of-a-kind building, right next to Auberge de Castille, places it in very close proximity to the par- liament building, government ministries and administrative offices, as well as the city's commercial and cultural hubs," the tender says. The building measures approximately 6,800 square metres and the roof level has an additional built area of approximately 265 square metres. Allied Newspapers is owned by the Strickland Foundation. Although there is a long-standing his- torical link between Strickland House and Valletta, the existing structure was only built after 1979 when Labour Party thugs set the building on fire. That fateful day – 15 October, 1979 – became known as Black Monday. Labour Party supporters who attended a mass rally in Valletta went on a rampage by first burning down Strickland House, while employees were still inside, and then ran- sacking Opposition leader Eddie Fenech Adami's family home in Birkirkara. The only remnant of that fateful Monday at Strickland House was a blackened wall on the topmost floor of the building that was retained behind a Perspex sheet and a small plaque recording the date. Allied Newspapers to sell iconic Strickland House in Valletta Strickland House in Valletta is up for sale by tender