In a recent interview the chairman of the Royal Bank of Scotland Group, Viscount Younger (a former Conservative Minister) said that he believes that the Isle of Man should be comfortable in putting its trust in the Blair Labour Government to look after the island's interests in its dealings with Europe.
Viscount Younger also said he believed the Blair government fully understands the importance of the Channel Isles' financial services sector to the UK economy, and praised Prime Minister Blair and Chancellor Gordon Brown for standing their ground against the EU's plans to introduce a 20% withholding tax. 'Both were given a rough time at a European meeting over it. But they stuck manfully to their position that the tax is something we should not put up with, and is something which would damage our economies,' Viscount Younger said.
The comments were made prior to the opening Royal Bank of Scotland International’s new headquarters on the Isle of Man, where Viscount Younger also praised the Isle of Man for having become one of the world’s leading offshore finance centres.
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