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What Will Vince Cable Do Now For The Isle of Man?

by James Green on 12/05/10 at 6:53 pm

Just over a year ago I wrote about the visit to the Isle of Man undertaken by Vince Cable, then Liberal Democrat Shadow Chancellor who today was appointed Secretary of State for Business and Banking in the new Conservative – Liberal cabinet.

Despite having been a stern critic of the island, calling it a tax haven, Dr Cable admitted to having changed his mind following his meetings with our Chief Minister, Finance Minister and senior civil servants, bankers and representatives of the business community.

Since then Dr Cable has continued to attack individuals who hide their wealth offshore but who are keen to become involved in the governance of the UK – most recently at the Institute of Directors annual convention – but he has tempered his attack on the Isle of Man and some other of the Crown Dependencies.

Now he is in power, albeit not as Chancellor and many thought, we shall see how he deals with the Isle of Man and other offshore islands.

See Also:

Is the Isle of Man Really a Tax Haven?

Political Double Dealing on Tax Havens

It is Official: The Isle of Man is NOT a Tax Haven

Offshore Tax Havens: Who Did Chancellor Merkel Have in Mind?

Isle of Man Praised by OECD Despite Attacks by UK Government