Guernsey Directors Defiant On EU, Talk Independence
At
a recent business conference the Guernsey Institute of Directors
narrowly voted against endorsing independence but noted that it
remained a fall back position in the event that Europe tries to
impose a common withholding tax on Guernsey. The question of independence
was raised in response to perceived threats from the EU, OECD
and UK against the island's tax status. Bruce Riley summarised the conference
position on the perceived threat to Guernsey by saying: 'We do
not have to harmonise our taxes but there is no doubt that the
pressure is there. If a common withholding tax comes Europe will
want it to apply here otherwise business from Dublin and Luxembourg
will just flow to the islands. If we have to impose withholding
tax that business will go farther afield.' Guernsey States Deputy John Langlois
gave a stern warning to the EU and more particularly UK Chancellor
Gordon Brown: 'The EU cannot impose on us but it can make life
difficult. Gordon Brown may think he has the right to legislate
for these islands. I deny that right.' Despite Langlois's show
of defiance, the conference also passed a vote of no confidence
in the Guernsey States' members. Finally, the conference also voted
overwhelmingly against the UK joining the Euro and in favour of
a casino for Guernsey. So there! .
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