The latest move by UK chancellor Alistair Darling shouldn’t damage the Island’s business reputation.
So says Treasury Minister Allan Bell (pictured) after the UK announced it would look into the regulation and transparency of offshore finance centres.
In his pre-budget report earlier today (Monday), Mr Darling said he’d hold a review into the offshore dependencies and their regulatory regimes – naming the Isle of Man as one of those to go under the microscope.
Mr Bell says like other reviews before it, this one should show the Island in a good light (audio file attached):
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