The Times has noted that:

It is ice-cream eating time in Jersey again but you had better hurry. The Channel Island tax haven is about to impose a government levy on the price of a cornet as well as pretty much anything else bought or sold.

The local equivalent of VAT is introduced on May 6. It has been named GST Day - an acronym so loathed that it has been dubbed "Get Stuffed, Terry" in honour of its originator Terence Augustine Le Sueur, the Finance Minister for Jersey.

"It actually stands for goods and services tax: the initials VAT have bad connotations in some people's minds," Mr Le Sueur told The Times. "There is of course an extra sensitivity about its introduction here but I've got broad shoulders. I don't like being compared with Margaret Thatcher but I believe that what I'm doing is the right thing for the Jersey economy."

But it then goes on to note precisely why Le Sueur is wrong.

The message is getting through: being a tax haven is now a bad thing for the people of Jersey. That's why it won't survive as one.