TJN have launched into an analysis of Jersey's new claims as to its economic worth to the UK, just as I have done. As is normally the case the TJN approach is different to mine, but fully complements it. I recommend the whole blog for the depth of its analysis. It concludes:
In summary, this document contains some interesting statistics, notably on the breakdown of assets it says are held through Jersey structures.
But when it tries to move from these figures to paint a picture of Jersey's 'contribution' to the United Kingdom, it quickly veers off into fantasy land.
Finally, another question emerges. Jersey, like many other secrecy jurisdictions, has been perpetrating tax and criminal abuses around the world, not just in Britain. The charge sheet here is far bigger, and far nastier. It's interesting to ask why Jersey has produced a selective report.
The more conspiratorially minded might suggest that this report is an effort to divide its critics, between those (such as development NGOs) who are angry at the abuses perpetrated against developing countries and others, and those who are more concerned with losses only to the UK.
I doubt Jersey is that clever, but you never know.
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Funny how you see so much negative when I personally think the UK should be thanking Jersey for transferring all this business and creating this 180,000 jobs they would not normally see.
I guess at the end of the day it’s up to the UK Government to figure out whether Jersey is of benefit to them and judging by the feedback so far it looks like they do!
By the way do you still think Jersey will go bankrupt by 2015 then Richard or are you going to change that prediction for now?
Jersey remains in deep financial trouble
The the 180,000 jobs – that is an entirely bogus claim
It ignores the fact that the vast majority of the money coming into the Uk left here in the first place – in other words – Jersey adds no value at all
But in the way it strips out £600 millions – enough for 15,000 nurses
Jersey drains the Uk economy
Had a friend in Jersey last week for a holiday and she told me HSBC private wealth bank was shutting down and the building was for sale and that AIB bank was empty and lots of other quality buildings along the sea front were empty she said it looked like a sad place