What do the Panama Papers tell us about the need for austerity?

 After the dizzying disclosures of the Panama Papers, Madeline Ashby writing in the Ottawa Citizen asks:

But what does all this mean? It means that the austerity measures proposed in Britain and elsewhere are complete nonsense. If the people “hiding their piggy banks” in the islands would simply pay their fair share, their countries could afford better health care, infrastructure and education for everyone. This, in turn, would create stronger workers and better economies. The cutbacks to the National Health Service and other services are the direct consequences of this greed, and similar cuts are happening all over the world. Meanwhile, the wealth gap is killing innovation...