Jersey And The Isle Of Man Promise To Work Together Over Tax

by Amanda Banks, Tax-News.com, London

13 March 2003

A dispute between Jersey and the Isle of Man over the latter's relationship with the OECD has been resolved, according to a report from the Isle of Man Online news service.

Earlier this year, Jersey's Policy and Resources President, Senator Frank Walker accused the Manx government of breaching trust with regard to its commitment to the OECD's harmful tax competition initiative, stating at the time that: 'There is now no co-operation between Jersey and the Isle of Man except on matters of regulation.'

However, at the invitation of the Manx authorities, Senator Walker, Finance and Economics President, Terry Le Sueur, and John Harris of the finance industry executive met with the IoM's Chief Minister, Richard Corkhill, and Treasury Minister, Allan Bell last week.

According to the Manx news service, in a joint statement released following the meeting, the representatives announced that it had been: 'very positive and constructive and would ensure a closer working relationship between all three islands'.

Senator Walker seemed especially pleased with the outcome of the meeting, revealing that it had laid the groundwork for the Isle of Man and the Channel Islands to present a united front in the face on international pressure.

'We agreed it was in the best interests of all three islands to cooperate and work together while still accepting the need for healthy competition,' he explained.

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