Chief Minister Richard Corkill MHK welcomed assurances that the United Kingdom Government recognises the Isle of Man’s high standards of financial regulation and its co-operation with international tax initiatives. The UK Minister, David Lammy MP, appointed in June this year, met with the Chief Minister and the Council of Ministers, covering a range of continuing issues on which the Manx Government is keen to make progress.

Said Mr Corkill: ‘Mr Lammy received a warm welcome to the Isle of Man and he delivered some positive messages during the meeting with the Council of Ministers. I particularly noted his reassurance that the UK Government does appreciate the constructive approach taken by the Island to the OECD and EU taxation initiatives. He clearly recognised too that successive external reviews had given our regulatory regime a clean bill of health.

‘The Isle of Man has led the way in combining international responsibility with economic competitiveness, and our position needs to be properly understood around the world. That requires good communication with the UK as our ultimate representative.’

The Chief Minister concluded: ‘In the age of globalisation, the Island has become increasingly aware of the international influences that can affect our community. An effective relationship between the Isle of Man and the UK – one that protects the interests of both countries – is therefore more important now than ever before.’