So now we know what the Crown Dependencies are for

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There was a fascinating comment in the Scotsman newspaper this morning:

David Mundell, Scotland Office Minister, said that any comparison between Scotland and the [Crown] Dependencies was "completely misplaced".

He said: "They are on a completely different scale to Scotland and their function is also completely different, that of providing a different tax environment. Scotland is an industrial country with an entirely different profile to the Channel Islands."

So now we know: apparently it is UK policy that the Crown Dependencies provide a 'different tax environment'.

Official confirmation of all Nick Shaxson has argued in Treasure Islands if ever I heard it.