Pressure on offshore centres

Friday 6th February 2009, 3:00PM GMT.

OFFSHORE finance centres can expect to see increasing pressure in the next few months, both from the UK and internationally.

The financial secretary to the UK Treasury, Stephen Timms, MP, said this week that although progress had been made in terms of tax transparency, there was ‘more to come’.

Speaking on the BBC’s Panorama programme on Monday, Mr Timms said findings from the Treasury review of British offshore islands would be published before the UK budget in the spring.

He also warned that ‘pressure from the OECD in the next few months will be very effective in putting things in order – and not before time’.

• Picture: Stephen Timms MP: ‘More to come’

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1
JTM

February 6, 2009 at 4:53 pm

There is no pressure on us as an offshore finance centre. The Tax Justice Network proved the other night on Panorama that they have not got a clue as to what actually goes on over here. As there information is inaccurate it merits no further comment.

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2
Normandy Norman

February 6, 2009 at 8:10 pm

You’re right JTM, but in fairness, they know more about finance than most of the misinformed posters on this forum.

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3
JTM

February 7, 2009 at 12:45 pm

They may know more about a virtual finance world than we do!

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