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Monday, 24 September 2012

"Bailhache Attempts To Peddle Another Falsehood To England"

Lib Dems hit out at "tax havens"

The Channel Islands may be branded the sunniest place in the British Isles, but our image as a Tax Haven has long cast a dark shadow over the Bailiwicks.

Now, the Channel Islands are caught up in an attack by the Lib Dems.

At their party conference in Brighton, Liberal Democrat politicians have been hitting out against British people who stash their cash in offshore banks.

In his conference speech, Business Secretary Vince Cable said: "Let's apply the message: Cracking down hard, not just on criminal tax evasion but on abusive tax avoidance. Working with our allies to close down tax havens. No one keeps their cash in tax havens for the quality of investment advice; these are sunny places for shady people."

Jersey hit the headlines for being that 'sunny place for shady people', when comedian Jimmy Carr was slammed for using the Jersey-based K2 scheme to reduce his tax bill.

So the Lib Dems are inevitably eyeing the Channel Islands with suspicion, although Vince Cable says we are not as bad as other Tax Havens.

He explained: "I'm not going out of my way to pick on the Channel Islands or the Isle of Man and actually I've met people from the Channel Islands, and I've been to the Isle of Man, I've talked to them about their particular situation, they weren't the countries that I was particularly singling out - there are others farther afield that are much worse.

"But every country in this business that is trying to undercut countries like ours by attracting individuals and companies through tax avoidance loopholes - we've got to have careful scrutiny of what they're doing."

Representing the Channel Islands at the conference, Senator Bailhache said he is trying to convince the UK that the Channel Islands are not Tax Havens, but well-regulated finance centres.

But for Lib Dem activists, this fresh assault on tax dodgers is hitting the right note. The UK is starved of millions of pounds though tax avoidance schemes. In a recent Christian Aid poll, most of the UK public said tax avoidance, although legal is morally wrong. And half said it should be made illegal.

1 comment:

  1. Sunny place for shady people! Love it and how very apt is that comment!