The Guardian: "Jersey is bluffing: it would ruin the tax haven" (Hammerson is developing Brent Cross using a tax haven)

Link to The Guardian

"The world's financial actors come to Jersey, because of the rock-like stability and predictability that stems from its umbilical relationship with the UK. While Britain's crown dependencies (such as Jersey) and overseas territories (such as the Cayman Islands) do have their own quasi-independent politics, their governors and some other officials are appointed by the Queen, Britain is responsible for their (supposedly) good governance. ...

"If this reassuring bedrock were removed, Jersey could still be a tax haven, but a more marginal one. When the Bahamas won full independence from Britain in 1973, its (then mostly criminal) financial sector decamped almost wholesale to the Cayman Islands, which remained a British overseas territory. If Jersey went it alone, its financial industry would be similarly devastated."

---

Link to HOME (see all posts).