There will be concern in the Government this morning (Monday) over a major article in a UK weekend paper, attacking Manx tax moves as 'pandering to the demands of the super rich'.

The Guardian report on the introduction of the zero corporate tax rate describes the Island as being 'in a race with the Channel Islands' and lists tax levels as 'incentives for the rich'.

Whilst Offshore critic Prem Sikka, a Professor at Essex University is quoted as saying he finds it difficult to understand how the British Government allows the Manx to "tolerate tax evasion on such a scale", there is a stout defence put up by Sir Miles Walker who says that taxation was a part of Manx autonomy that "the Isle of Man is not prepared to surrender".

The article also points out that it is easier to gain residency and there are homes available in the Isle of Man but adds 'not much else happens'.