A report in the Isle of Man press last week quoted a member of parliament as saying that the island should be better promoted as an offshore financial centre.
Sir Miles Walker was speaking as he moved the Halifax International Bill through its second reading in the Isle of Man's House of Keys. The bill means the Isle of Man subsidiary of the company, Halifax International (Isle of Man) Ltd, will be merged into the Jersey subsidiary, Halifax International Limited. Sir Miles said that whilst the company will not be leaving the Isle of Man, it favoured the Jersey subsidiary because of Jersey's bigger profile as an offshore financial centre.
In response, fellow parliamentarian Geoff Cannell was said to be disappointed that the Isle of Man was perceived as less well known than Jersey but added that if this was the case, then it was up to the government to do something to reverse the situation.
Sir Miles pointed to the fact that Jersey has been a finance centre for longer than the Isle of Man, and so inevitably has a greater profile. But the general consensus in the House of Keys was that the Isle of Man had "come on in leaps and bounds" in establishing itself as a premier offshore jurisdiction.
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