{"id":4704,"date":"2009-09-03T11:30:26","date_gmt":"2009-09-03T09:30:26","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/2009\/09\/03\/cayman-doesnt-like-it\/"},"modified":"2009-09-03T11:30:26","modified_gmt":"2009-09-03T09:30:26","slug":"cayman-doesnt-like-it","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2009\/09\/03\/cayman-doesnt-like-it\/","title":{"rendered":"Cayman doesn&rsquo;t like it"},"content":{"rendered":"<p>The <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/3dd38136-9814-11de-8d3d-00144feabdc0.html\" target=\"_blank\">FT has picked up on the Cayman story<\/a>, reporting:<\/p>\n<blockquote>\n<p>The UK&rsquo;s refusal was met with anger from some islanders. Tony Travers, chairman of the Cayman Islands Financial Services Authority, said: &ldquo;I think they are mystified by the FCO [Foreign Office] position, given it has a statutory obligation to act in the interests of the Cayman Islands.&rdquo;<\/p>\n<p>He said there was no shortage of institutions prepared to lend to the Cayman Islands. Moody&rsquo;s Investors Services last month maintained its Aa3 rating.<\/p>\n<p>Mr Travers said: &ldquo;I think even a property tax is highly unlikely. The focus at the moment is on cutting expenditure.&rdquo;<\/p>\n<p>Charles Jennings, joint managing partner at Maples and Calder, the law firm said: &ldquo;Tax is just one suggestion among several others. There is absolutely no suggestion that the investment funds industry, or indeed Cayman&rsquo;s offshore financial industry generally, will have any taxes levied on it.&rdquo;<\/p>\n<p>Mr Travers said there was a risk &ldquo;scaremonger headlines&rdquo; about its finances would be bad for the industry, although &ldquo;sophisticated&rdquo; hedge fund managers would not be concerned.<\/p>\n<\/blockquote>\n<p>Oh yes they will Tony. They want stability. An insolvent company can&rsquo;t supply that. They&rsquo;ll be very worried, whatever you say. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The FT has picked up on the Cayman story, reporting: The UK&rsquo;s refusal was met with anger from some islanders. Tony Travers, chairman of the<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2009\/09\/03\/cayman-doesnt-like-it\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22,35],"tags":[],"class_list":["post-4704","post","type-post","status-publish","format-standard","hentry","category-cayman","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/4704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=4704"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/4704\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=4704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=4704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=4704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}