The Jersey Evening Post (the link will only work for a day) has reported on the budget saying:
UK Budget: Finance breathes sigh of relief
FEARS that Jersey's finance industry would be heavily hit by the UK Budget proposals were yesterday put to rest.
Chancellor Alistair Darling had proposed new measures to tax the wealthy, in particular 'non-doms' - people living in the UK, but registered in another country for tax purposes. But the 500-page budget document indicates that Mr Darling has listened to the protests from businesses and softened his tactics.
John Shenton, tax partner at Ernst & Young, said the message was 'generally much better than expected'.
If you want some measure of by how far Alistair Darling has got things wrong, then this is it.
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Well, all Jersey are noting is that we have seen the greatest retreat since Napoleon left Moscow in the government’s pitiful concessions on domicile. Mind you, I suppose that is all we can expect from a mediocre group of men like Brown’s Cabinet who are plainly “not fit for purpose”. You and I are miles apart on domicile Richard but quite how the government moved from putting trusts at a disadvantage to personal ownership to putting them at a massive advantage in having a remittance basis for UK situate gains is surely one of the most remarkable things to come out of this shambolic process!