The former Conservative Party leader, who spoke at the annual dinner of the Jersey branch of the Institute of Directors on Saturday, said that he felt that offshore finance centres had an important role to play in the world economy as they stimulated tax competition and prompted other countries to keep their taxes as low as possible.’There are advantages for everybody in having jurisdictions like Jersey which have special status and tax arrangements,’ he said.
‘I cannot speak for the party as a whole but I would like to see Jersey’s financial services sector maintained and protected from unnecessary encroachment from Europe.’The MP for Richmond, North Yorkshire, who led the party between 1997 and 2001, gave a light hearted insight into life at Westminster at the dinner as well as exposing weaknesses in Britain’s current relationship with the United States.
