Channel Islands ‘to work together on tax’
Plans for Guernsey and Jersey to join forces to tackle fiscal deficit could be the start of a future together, Jersey’s Treasury Minister has said.
The minister, Senator Philip Ozouf and Guernsey’s chief minister, deputy Lyndon Trott have been holding seminars to talk about the collaboration.
Ahead of the second meeting, Senator Ozouf said the islands could also have joint regulation and tax schemes.
He described the islands as “stronger together than apart”.
Following recommendations by the Institute of Directors, the two island governments have agreed to come together to compare ways to tackle the financial deficit they both face.
Senator Ozouf said: “There clearly are further areas where we can work together.
“I could envisage in 10 years time a Channel Island regulatory authority, regulating the telecoms and the postal sectors clearly as one regulator would save money.
“Also I could envisage a financial services regulator again being able to send out a very clear message to the world that the Channel Islands has the highest standards of regulation and we shouldn’t be competing I think in future on things like tax and regulation.”
Source: BBC