Monaco is one of the world’s smallest countries, and also one of its most populated, by ratio. Known for its luxury lifestyle and tax havens, beneath the celebrity tennis stars and gambling casinos lies a surprisingly simple lifestyle that maybe we could learn from.
Situated on the stunning French Riviera, how does this tiny principality manage to strike such a remarkable balance? Let’s explore.
After Vatican City, Monaco is the smallest (and wealthiest) country. Popular with celebrities (including Bono), some have expressed concern that the super-rich (who often campaign for those in poverty) don’t see the hypocrisy of moving ‘official homes’ (and royalty operations) to offshore tax havens.
Christian Aid estimates that around $160 billion is lost to help the poorest in society, when funds are moved away from countries where people pay their fair share of tax.
Monaco is of course known for being whwere American film star Grace Kelly married into the Grimaldi royal family (which has ruled here for over 600 years) and its Grand Prix (held since 1929, this tricky circuit was won six times by the late racing driver Ayrton Senna).
It’s also known for a luxury lifestyle of super-yachts and high-life living (a third of Monaco residents are millionaires, although most people who work in Monaco commute from France or Italy, both just 10 miles away.
Monaco is one of the Safest Places on Earth
This tiny country has one policeman or policewoman per 73 residents. Plus there are many police stations and specialist police boats. Compare that with here, where often the police stations are closed due to lack of funding and often it’s very difficult to find the police when you need them, due to them being so understaffed and underfunded by government.
Police in Monaco are recruited from France, and then undergo two more years intensive training to qualify. We couldn’t find an exact count for England, but it’s likely similar to the USA where you have around 2 police officers per 1000 people.
Residents Are Not Allowed Inside Casinos
Despite Monte Carlo being the most famous casino in the world, there is a law that local people can’t gamble their money away, due to believing gambling to be immoral (it’s a strictly Catholic country) and also locals would then not be able to afford to live there!
It has the World’s Longest Life Expectancy
People in Monaco live an average of 85.8 years, which is not surprising, considering the high quality of life. Even so, the average age of people is 44. But everyone eats well and has access to super health care.
You Can Walk Everywhere
It takes just one hour to walk across the entire country. However, despite England being much bigger, it’s food for thought as we could make each town or city walkable, which often is not the case at present.
Monaco Does Not ‘buy’ Animals from Zoos
Monaco’s zoo has had welfare issues in the past (however Virginia McKenna’s Born Free Foundation did persuade Prince Albert to release enclosed leopards to a sanctuary). Now all animals here are rescued from being abandoned or seized by circues, rather than being ‘bought’ like some of England’s zoos (Longleat safari park once admitted that due to over-breeding lion cubs, some had been killed). Learn more on how we can conserve endangered species, without zoos.
How Serious is Tax Evasion in England?
Very. Although most people who ‘evade tax’ end up in court, many companies legally ‘avoid tax’ by moving companies abroad (for instance, Amazon paid no corporation tax at all in 2021, despite its huge profits). That tax could go to funding our NHS.
The Labour manifesto for the General Election 2024 promised to close these loopholes, and use the billions recovered to pay for things like free dentistry appointments – let’s hope this is not a case of MPs telling fibs, to win elections!
It’s more difficult these days to move to ‘tax havens’ due to country-by-country reporting and a worldwide minimum corporate tax. Experts say that the huge issue of UK tax evasion by companies is mostly due to UK banks not having to legally report it to HMRC and Companies House.
What irks is that the amount of tax evasion each year is more than false benefits claims – yet the government focuses on one for the media interviews, and never the other. It’s estimated around £6 billion a year could be claimed, if governments pulled up their stocks and got the money back.
