We won’t respond to Miliband threat
The Manx government will not officially respond to Labour leader Ed Miliband’s ultimatum on beneficial ownership.
Mr Miliband has threatened to place on an international blacklist any Crown Dependency or British Overseas Territory that fails to produce a public register of company beneficial ownership within six months of Labour coming to power.
His letter was received last Wednesday, confirmed Treasury Minister Eddie Teare.
But he said it had been decided not to respond directly or by way of any international briefing.
Mr Teare explained that those jurisdictions who had responded – including Bermuda, Guernsey and Gibraltar – had found themselves labelled ‘tax havens’ in press headlines. ‘Those that put their heads above the parapet were criticised for responding,’ he said.
In the letter sent to each of the British offshore jurisdictions, Mr Miliband warned: ‘I am writing to put you on notice a Labour government will not allow this situation of delay and secrecy to continue. Labour will act on tax avoidance where the Tories will not – ending protection from international scrutiny and requesting OECD blacklisting.’
