The MP for the Cities of London and Westminster, Mark Field, and the director general of the Institute of Economic Affairs, Mark Littlewood, both agreed that the Island needs to do more to stem the seemingly spiralling belief that the Island is a haven for tax cheats.

Both men spoke to the JEP last week at a reception in the Churchill Room of the Houses of Parliament and Mr Field said that the reality was that Jersey was at the leading edge of regulation and financial transparency.

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