The Isle of Man government has labelled Michael Foot's interim review of British offshore financial centres as "wholly appropriate".
In a progress report, Foot says tax transparency, liability and financial supervision will be the central themes of his review of British offshore financial centres. His brief is to explore the long-term opportunities and challenges facing Britain's nine offshore centres in the wake of the collapse of the Icelandic banks and other controversies. "The Isle of Man regards the review of British offshore financial centres as a wholly appropriate action given the unprecedented global financial turmoil affecting all economies," says Isle of Man chief minister Tony Brown. "As a responsible I...
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