The City of London sponsors a web site called The City UK - which claims it 'partners prosperity'. On its web site it is promoting an event at 12 noon on 2 July and Drapers' Hall, Throgmorton Street, at which a report entitled 'Value of Jersey to the UK' by Capital Economics will be launched. Capital Economics, they say, are a respected independent economic consultancy. The report puts hard figures on the value of Jersey to the UK.
- calculates the scale of the various financial asset classes that Jersey mediates,
- details the value of the various types of transfers financial assets make to the City,
- provides estimates of the cost to the UK Treasury of tax evasion and avoidance through Jersey and,
- predicts that the already relatively low numbers will further dwindle following the recent signing of tax information exchange agreements with the UK.
So here are some hard facts I'd like:
- Who paid for the report?
- How much did it cost?
- What critics of Jersey were spoken to?
- How much information exchange has Jersey entered into?
- Why does Jersey refuse to provide corporate tax transparency of any sort?
- Why does Jersey have no register of trusts?
- Why does Jersey not commit to full automatic information exchange under even the very limited terms of the existing European Union Savings Tax Directive - an act on their part which can only help tax evaders?
- Why does Jersey oppose the extension of the European Union Savings Tax Directive?
- When will Jersey actually sign the OECD tax mutual assistance agreement?
- What information will Jersey actually exchange under its new commitment to automatic information exchange, and when?
I bet none of them will be addressed.
Hat tip: Tony Greenham