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'Secretive tax haven' Jersey

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JERSEY has been labelled 'one of the most secretive tax havens in the world' in the House of Lords after it was revealed that UK citizens hold some £19 billion in Jersey, Guernsey and Isle of Man accounts.

In an exchange between Baroness Williams of Crosby – former Labour and SDP MP Shirley Williams – and deputy government chief whip Lord Newby, it was also revealed that the UK tax department is setting up a new unit to specifically look into money held offshore.

Baroness Williams, a former UK Education Minister who sat in the House of Commons for 17 years, had asked the original question on Monday about how much money British citizens held in Channel Island accounts, and what was being done to investigate them. She also claimed that 'Jersey is one of the most secretive tax havens in the world'.

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