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Guernsey Officials Lend Support To Zero-Ten Tax Policy,
by Jason Gorringe, Tax-News.com, London
Thursday, December 27, 2007
Senior figures in the Guernsey Policy Council have rallied in support of zero-10
and the States economic and taxation strategy.
In a series of interviews on BBC Radio Guernsey earlier this month, Deputy
Chief Minister Stuart Falla, Treasury and Resources Minster Lyndon Trott and
Public Services Minister Bill Bell all strongly backed the zero-10 solution,
which has come under considerable criticism in recent weeks.
"I am entirely supportive of the strategy that the States endorsed almost
overwhelmingly. I think it will be very good for Guernsey people because it
will be a platform for continued prosperity right through the whole range, not
just for financial services," Deputy Falla announced, adding that:
"I have absolutely no doubt that what we are doing is right."
Deputy Trott, who has been primarily responsible within the Policy Council
for steering the process through the States and the public forum, said that
he had enjoyed the process of engaging with the public, and recognised that
it had to continue.
"For me, a significant majority of people have become persuaded by the
initiative as time has gone on, however there continues to be a significant
vocal minority who have concerns and I consider my job, for the remainder of
this term on behalf of the Policy Council, is to address those concerns as best
I can," he announced.
"Among the biggest concerns is what does the future hold. I always give
the same answer – I and my advisers don’t have a crystal ball but
what we believe is that the decision the States has taken was the least risky
of the options and we believe that we have not created an environment whereby
there is a likely to be an adverse reaction – it’s positive,"
he continued.
Deputy Trott went on to reassure Guernsey residents that States finances were
still buoyant, and there was no question of storing up big tax increases for
islanders in the future after the 2008 election.
Deputy Bell described completing the process of taxation reform to establish
the zero-10 regime as his highlight of the political year:
"My outstanding success for the year has been establishing all the guidelines
and legislation for zero-10. We move into next year with zero-10 in place and
all the indications are that zero-10 is working."
He concluded:
"All the indications are that we remain an attractive jurisdiction. A
lot of people are coming, bringing their businesses and their money to Guernsey
and that’s something where we could have gone wrong, we could have been
in a situation where we found people leaving. We’re doing well and zero-10
is working."
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