The Jersey Evening Post has reported:
JERSEY could be left vulnerable to being blacklisted as a ‘tax haven’ by the EU as the UK’s influence in Brussels fades during the Brexit process, a top adviser to the States has warned.
Speaking at an Institute of Law seminar on the implications of Brexit for Jersey, Colin Powell said that when Britain leaves the EU, the Island and the other Crown Dependencies could soon need to ‘bat for themselves’ as offshore finance centres, as they will no longer be represented by the UK in Brussels.
Three immediate thoughts. First, the UK has been batting for its tax havens is the clear message. Second, it is clear it's stopped them being treated as tax havens by the EU. Third, what harm has it caused as a result?
And then a slightly longer term thought: the UK and its tax havens are not separate entities, as Colin Powell makes clear. In that case why won't the EU list the UK and its tax havens as a whole when the UK leaves Europe? I think the risk that it might is real.