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The din of criticism from Moscow signaled the importance of Cypriot offshore financing for the Russian economy.
This brings with it a heady mix of complex corporate structures, offshore financing and curious share ownership profiles.
The Panama Papers revealed Samoa, which is situated halfway between New Zealand and Hawaii, as a key player in offshore financing.
But it is not just on the rate that Osborne has competed hard: new favourable tax regimes for multinationals with offshore financing subsidiaries as well as new tax breaks for patent-owning companies have also been central to aggressive tax competition policy.
The Landesbanken, which act as wholesale banks for the savings banks, and DZ Bank and WGZ Bank, which do the same for the co-operative banks, step in to provide more sophisticated services, such as hedging and offshore financing.Not everything is rosy in the garden.
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A tax treaty with Canada underpins offshore finance in Barbados.
It now prospers from rich tourists and offshore finance.
Offshore finance, internet gambling, shipping, tourism and a weak pound all help.
Smaller islands which prospered from offshore finance worry about tighter international controls.
Something the great unwashed might chant more about is the damage done by offshore finance.
A well-regulated offshore finance industry brings in $100m a year, mainly from company registrations.
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CEO of Professional Science Editing for Scientists @ prosciediting.com