Jersey bolsters defences

Tuesday 20th January 2009, 3:00PM GMT.

OFFICERS from the Chief Minister’s department plan to visit the United States soon to counter fresh attacks on offshore finance centres.

And finance chiefs are arguing that Jersey should make sure it is heard before the next G20 summit in London in April. Newly-appointed US President Barack Obama is expected to attend the London summit, which promises to be a high-profile event chaired by the UK government and focusing on the current global financial crisis.

The election of Mr Obama, who is sworn in today, has been the cause of some concern in the offshore finance world because of his support for the Stop Tax Haven Abuse Act, which lists Jersey as an ‘offshore secrecy jurisdiction’.

Geoff Cook, chief executive of Jersey Finance (pictured), said: ‘Jersey is not a member of the G20 so the Island is not allowed in but people can be involved in side meetings and talk to the media.’ Martin de Forest Brown, director of international finance at the Chief Minister’s department, said that Mr Obama’s visit to London would give Jersey an opportunity to ‘do something useful on the fringes’.

Read the full story in the Jersey Evening Post.

Click here for subscription details.

Individual editions are also available online.

1
sparky

January 20, 2009 at 4:36 pm

“Jersey is not a member of the G20 and is not allowed in but can be involved in side meetings”. Is it me or, does this sound like a “jolly”???

Report abuse
2
Mary Jayne

January 20, 2009 at 10:42 pm

What’s wrong with video conferencing? More jollies out of our pockets. So much for saving money: same old same old.
No real surprise there though.

Report abuse
3
the future

January 21, 2009 at 9:30 am

No panic then ! Yes of course you are sure our position is secure. That is why we are flying people to America to see if maybe its possible they can speak to someone.

Report abuse
4
Mike R

January 21, 2009 at 9:41 am

This industry is the lynchpin of our economy and Barack Obama has previously stated his intention to take action against offshore finance centres, therefore our government travelling to be heard in Washington at this time makes absolute sense.

As for trying to Network by video conference – why don’t you try calling a US Senator or congressman and asking him to join a video conference! Its not how they do things there.

Report abuse
5
Pip Clement

January 21, 2009 at 12:58 pm

Given the insularity of most American politicians they will spend most of their time explaining that they come from Jersey and not New Jersey.

And in the current climate most US Senators will be out to protect the interests of their electors.

The G20 summit is about trying to avert global meltdown in the world financial system. Will the representaions of one small tax planning centre in the English Channel even hit the radar?

Report abuse