Offshore centres inquiry

Monday 12th May 2008, 8:38AM BST.

JERSEY is better placed than most offshore centres to withstand international scrutiny, according to a leading City financier.

Terry Smith, the chairman of Collins Stewart, also suggests that the Island’s tax neutrality and ‘safe’ culture should make it an ideal location to host companies trading electronically.

Mr Smith, who was in the Island last week to attend the launch of the first Jersey Boat Show, said that in his opinion the UK Treasury Select Committee inquiry into offshore finance centres (announced last week) was ‘not a lot to worry about’.

‘This inquiry is of interest to us ˜ we have a business here, and in Guernsey and the Isle of Man. But our experience doesn’t suggest that you’ve got much to worry about,’ he said. ‘Compared to the other offshore centres I think that the Channel Islands, and Jersey in particular, are well-placed.’

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