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There is nothing illegal in the investments and no suggestion that the Queen is not paying tax.

Britain's main opposition party called for a public inquiry on Monday after the Paradise Papers identified Queen Elizabeth II and a donor to the ruling Conservatives as users of controversial offshore tax avoidance services.

Labour Party leader Jeremy Corbyn said the widespread use of offshore havens by wealthy individuals in dozens of countries proves "there's one rule for the super-rich and another for the rest when it comes to paying tax".

The Paradise Papers are a huge cache of 13.4 million records, dating from 1950 to 2016, obtained by the German newspaper Sueddeutsche Zeitung and shared with the Washington-based International Consortium of Investigative Journalists.

The Duchy of Lancaster, which holds assets for the British monarch to generate income for her, confirmed in a statement that some of its investments are in overseas accounts. A spokesperson for the Duchy of Lancaster also noted that the Queen voluntarily pays tax on the income she receives from the duchy.

A small exposure of the Queen discovered in the leasing company, BrightHouse, which was accused of the acquisition on the poor and Threshers - British chain of stores went bankrupt, owing £ 17.5 million of taxes and having left without work of 6 thousand people.

A spokesman for the Duchy of Lancaster said: "We operate a number of investments and a few of these are with overseas funds".

The Duchy says it still holds the Dover Street investment, which is expected to mature in two to three years.

"The Dover Street investment was bought in 2005 and forms only 0.3% of the total value of the Duchy".

Graham Smith, the CEO of Republic, said: "The Queen's personal wealth and investments mean she has a direct interest in government decisions about tax. All of our investments are fully audited and legitimate", it said.

"The Duchy has only invested in highly regarded private equity funds following a strong recommendation from our investment consultants", he said.

The Queen was likely unaware her money had been invested offshore; as David McClure, author of Royal Legacy: How the Royal Family Have Made, Spent and Passed on Their Wealth, noted in The Guardian, "the Queen is permitted by convention only an arm's-length role in the management of the duchy". Per the documents, some of the money was invested in a fund that ended up contributing to BrightHouse, a chain with an alleged history of irresponsible lending, and liquor store chain Threshers, which went belly-up in 2010 after owing £17.5 million in United Kingdom taxes.


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