Foot to front independent offshore review

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Michael Foot, currently chairman of the UK office of Promontory Financial Group will lead the independent review of British offshore financial centres, announced in the Pre-Budget report.

The review will focus on the immediate and long-term challenges facing British offshore financial centres in the current economic climate, including: Financial supervision and transparency Taxation in relation to financial stability, sustainability and future competitiveness Financial crisis management and resolution agreements International cooperation The Government has previously stressed the constitutional arrangements in place across these territories will continue to be respected, including the islands' independence in fiscal matters and setting of their own rates of taxat...

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