Isle of Man: Chief Minister Rubbishes Nationalist Attack On 'Excellent' Jurisdiction

Lisa Ugur, Tax-news.com, London

10 January 2001

A report in the Isle of Man online newspaper this week said that the UK dependency had come under fire from the leader of a Manx nationalist group and it was an attack aimed largely at the island's financial and business sectors. However, Chief Minister Donald Gelling shook off the comments of Mark Kermode, the chairman of Mec Vannin, taking the opportunity to sing the praises of the Isle of Man as an offshore financial and e-commerce centre.

According to the Isle of Man Online, Mr Kermode is said to have branded the finance industry, estate agents and developers as 'enemies' and charged that 'tax dodgers' were flooding into the Isle of Man and contributing to its destruction.

The Chief Minister said that the more moderate people in the population would no doubt disagree with the comments made by Mr Kermode. Mr Gelling stated: 'I have been approached by Manx people in respect of what has been said and they wished to disassociate themselves from these comments, which they found rather surprising and embarrassing. We live in a democracy and Mr Kermode is entitled to his opinion but there are many more Manx people who would not agree with him.'

Mr Gelling pointed out that the Isle of Man was thriving rather than suffering, as Mr Kermode had inferred, and had emerged rather well from the international pressure exerted on the offshore world generally in 2000. He said: 'International activities made for a busy 2000…..I think we achieved our aim, which was not to appear on the OECD blacklist. Basically we consolidated our position as an excellent offshore jurisdiction. We have enjoyed growth in spite of the question marks raised. In fact, people who might not have considered the Island before now are looking at us as a very serious first option'.

Moreover, the Chief Minister drew attention to the development of the island's e-commerce capabilities in dismissing the claims of Mark Kermode. The Isle of Man Online quotes Mr Gelling as saying: 'The enquiries we have had towards the end of 2000 proved that there is major interest in the Island. In 2001 we must continue to market the Island not just as the leading offshore jurisdiction that will attract quality business. I believe the emphasis in 2001 will be on the fantastic speed at which information technology is progressing. It's in our interests to be information technology conscious if we want the growth in business to continue'.

.

Recommended

Write a comment