LIBERAL Democrat Treasury spokesman Vince Cable has warned that major governments are preparing to move against offshore ‘tax havens’ such as Jersey.
And he said that the failure of the British government to offer protection to Islanders who had money in Icelandic banks which are now in administration spoke volumes about a growing lack of patience with territories that engage in tax avoidance.
Mr Cable (pictured) was reacting to criticisms levelled at him by Jersey’s Chief Minister, Frank Walker, for making ‘inaccurate and ill-informed’ comments about the way in which the Island’s finance industry is regulated. However, Senator Walker is even more annoyed at Mr Cable’s latest outburst. ‘There are none so deaf as those who do not want to hear,’ he said.
Mr Cable, who some believe could end up as a future UK Chancellor in a coalition government, was uncompromising in his message, saying: ‘Rather than react to pompous statements from the Chief Minister, I would simply point out that far more important people than me are preparing to move against offshore tax havens. US President-elect Obama has made clear his intention to do so.’