A Conservative MP in a key London constituency is urging a more balanced debate on the offshore financial centres.
Mark Field, the member for the City, was speaking at the chief minister's International Lecture at the Palace Hotel last night (Thursday).
He complemented the Isle of Man on its regulatory stance, mentioning the latest tax agreement signed yesterday with Bahrain.
Mr Field said the time had arrived for the debate on the international offshore centres to be reopened.
But then note what that key London constituency is: it is the City of London.
Oh, quelle surprise! The MP for the City of London supports tax havens. Tell us news. He's the MP for one.
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Plus half of his front bench support low taxes on the rich, in exchange for a hike in VAT and thus are regressive and most of their money in off-shore accounts when the rest of the country faces austerity measures and can’t afford to avoid tax. But we must remember “we’re all in this together” the whole system of avoiding tax makes it regressive, this should be the 1st issuse resolved, before ideology even comes in to play.