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Not a tax haven.


IOMRS97

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He only said "if" we don't comply with the UK's tax requirements. Hasn't that been the implied position for years?

 

And there's a simple response, unless our government are lying. "We do comply. There's no safe haven in the Isle of Man for people looking to avoid UK tax."

I think we can believe our government to that extent when you look at the comparison numbers of mentions the IOM received in the leak compared with BVI, Cayman and even the UK itself. I think the only thing we are going to take pressure on is the non-availability to scrutiny of a beneficial ownership register, but of course that is very problematic for any offshore jurisdiction.

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I do not see the relevance of a hit parade of mentions in the MF papers. This whole thing has opened a window into the offshore activities of various people/entities.

 

The investigators and pressure groups are only too aware that MF is just one organisation based in one territory who has been hacked. There are many others out there. This is not a representative sample by any means.

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The whole thing was a political leak for political purposes. There are far too many new money people taking advantage of what was mainly an old money way of preserving wealth. The tax havens need cutting down in size and number so only the top 0.01% can keep the benefits and the rest of the new money can swim with the fishes again.

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@ NoTail: True, but I reckon the incidence of appearances of the places in the leak is pretty representative of how those jurisdictions feature in other organisations and their general level of probity when it comes to "knowing your customer". Certainly, if I was drawing up a league table before the leak based just on gut feeling it would have been pretty similar to the results from this with BVI and Cayman at the top and the Crown Dependencies beneath the UK.

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I admire Jeremy Corbyn, I like his politics and I think he is good for the UK. I also have a lot of sympathy for his opinions on tax havens & why he mentioned them being taken under direct rule.

As a proud Manx man I would also like to see the island move away from what I see as its over reliance on tax dodging, e gambling and other similarly dodgy sectors. I would also like the island to move toward far greater independence. Neither are remotely likely to happen with the status quo, so as far as I can see Corbyn's plans are more likely to further both causes, good luck to him.

Corbyn has no chance of influencing the IoM.

 

Most places are over reliant on something. It's the way things are.

 

You should mention to China they are over reliant on cheap manufacturing.

 

The IoM has always relied on something. You'd have been crowing 60 years ago we were over reliant on tourism.

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Corbyn has less chance of being British Prime Minister than Mickey Mouse.

Well possibly. But a year ago you would have said the same thing about him becoming Leader of the Labour Party.

Yeah...but look at the competition he had, and an easily abused sign up to vote scheme.

 

The 'sign up to vote' thing is a bit of a myth. The evidence from the result (which split them up) and polling of the 'selectorate' shows that Corbyn won convincingly among all sections of those who had a vote, including full members who had been in the Party for a while. Just because something keeps on being repeated in the papers doesn't mean it is true (usually the opposite).

 

You may be right that the alternative candidates were unimpressive, but they had mostly been cabinet members, had experience and all the things such people are supposed to have. And no one is claiming that if only X politician had stood they would have beat Corbyn.

 

Edited to add: In any case that wasn't really my point. The thing is that politics is unpredictable and saying something is impossible, based on 'what everybody knows', or the conventional wisdom of the media, has been shown to be wrong too often in the recent past. None of the 'experts' would have said in May 2015 Corbyn would become Labour Leader or in May 2014 that a year later the SNP would win nearly every seat in Scotland

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It's about being sellable to the voting public. Blair was. Brown wasn't. Milliband wasn't.

 

I've always thought Portillo would make a great figure head for any party.

 

Maybe a Bradshaw's Train Journey Annual Party. Not a political one.

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