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Swiss attack over 'UK tax havens'

by isleofman.com 26th March 2009
Switzerland is the latest nation to get involved in the ongoing row about tax havens and the G20.

Last week Luxembourg accused United Kingdom Prime Minister Gordon Brown of ignoring jurisdictions such as the Isle of Man, while targeting the tiny European state.

But now Swiss bankers have accused him of hypocrisy as Switzerland's future is discussed.

According to the Bloomberg Press, Pierre Mirabaud, chairman of the Swiss Bankers Association in Geneva says Mr Brown should sort out what he calls British tax havens such as the Isle of Man and Channel Islands before turning his attention to Switzerland.

He said: "I would define Mr. Brown and the British government's position as full of hypocrisy. At the end of the day, we are engaged in an economic war for market share."

Michel Derobert, secretary general of the Swiss Private Bankers Association joined in the criticism, saying: "Gordon Brown must know much more about tax havens than we do because he's got a lot of tax havens around Britain."

Even Swiss Economy Minister Doris Leuthard joined the calls, saying: "If we're making concessions in administrative assistance, countries like the UK and the US have to follow. We won't accept hypocrisy from other nations."
Posted by isleofman.com
Thursday 26th, March 2009 06:33pm.

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