UK tax on offshore banks 'purely speculative'

Rumours of the tax as part of a deposit protection scheme which could impact on Jersey 'have no basis in fact,' says Geoff Cook, chief executive. He says Jersey's financial industry has no knowledge of the UK government's rumoured plans and is not in discussions about such a move. Furthermore, Jersey has 'no intention to pursue such a course of action,' he adds. "These misinformed reports suggest that such a move would be in relation to the UK Treasury's recently announced review of the Crown Dependencies and Overseas Territories," says Cook. Jersey Finance has previously welcomed th...