Jersey and Guernsey targeted by Ed Miliband

UK politician, Ed Miliband is threatening to put Jersey and Guernsey on a tax black-list unless measures are made to improve transparency.

He says if the Labour Party are voted in during the next election, he will take action within six months of coming into power.

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'Labour should use Guernsey as an exemplar' - says Treasury Minister

Guernsey says the Labour should use the island as an example of jurisdictions who are improving international standards.

The Treasury and Resources Minister has been meeting with the Shadow Treasury team in Westminister.

It has been a frustration that perhaps the nuances between the different jurisdictions has not come through in the debate so far but I think that is much better understood and again I think the UK has an opportunity to present Guernsey as an exemplar amongst many jurisdictions and to be able to use our example as a way of improving International standards and we very much hope that if the Labour party does form the next government that that would one of the things they'd consider doing.

– Gavin St Pier, Treasury and Resources Minister

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Labour reiterate warning for tax havens at Guernsey meeting

Labour has reiterated Ed Miliband's warning that if Labour comes to power he will penalise the islands for being tax havens.

The party's Shadow Exchequer Minister, Shaban Mahmood, met with Guernsey's Treasury Minister today.

But she did say that Labour are listening to Guernsey's message on tax.

Certainly Guernsey have been very willing and open to engagement with us and it's exactly the same from our perspective also. We accept that at this point there are some points of disagreement between us and different points of emphasis and that is work that we intend to continue as we move forward.

– Shabana Mahmood, Labour's Shadow Exchequer Minister

Guernsey's Treasury Minister to meet with Labour Party

Deputy Gavin St Pier

Guernsey's Treasury Minister is meeting with politicians from the Labour Party today.

Deputy Gavin St Pier will discuss 'tax transparency' with the party's treasury team including Labour's Shadow Exchequer Secretary, Shabana Mahmood.

Labour leader Ed Miliband's threatened that if his party is voted into power in the next elections, he will give the Channel Islands six months to open their books.

Miliband had said he could put Jersey and Guernsey on a tax black-list unless measures are made to improve transparency.

Guernsey's Chief Minister Jonathan Le Tocq received a letter from Ed Miliband warning of the plans for increased transparency in February.

Deputy Jonathan Le Tocq wrote back disputing his claims over the island's tax transparency and offered to meet Miliband to discuss the matter further.

Guernsey Chief Minister hits back at Miliband claims

Chief Minister Jonathan Le Tocq

Guernsey's Chief Minister Jonathan Le Tocq has written to Labour leader Ed Miliband hitting back at his claims over the island's tax transparency.

UK Labour leader Ed Miliband's threatened that if his party is voted into power in the next elections, he will give British tax havens six months to open their books.

Miliband had said he could put Jersey and Guernsey on a tax black-list unless measures are made to improve transparency.

But these are claims the Chief Minister strongly refutes and has offered to meet Miliband to discuss the matter further.

The implication of your letter is that a Labour Government will be somehow required to drag Guernsey 'into line'.

That could not have been further from the truth over these past 15 years.

Should a Labour Government be elected in May of this year, you will find that it will not be the case in the future. It is an implication which we challenge very strongly.

– Deputy Jonathan Le Tocq, Chief Minister

Read the Chief Minister's full letter here.

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Watch: Miliband hasn't done his research

Peter Mills, Chair of the Guernsey International Business Association, has told ITV News that Ed Miliband's comments on Jersey and Guernsey tax were sweeping statements that needed to be better though out.

UK Labour leader Miliband had threatened that if his party is voted into power in the next elections, he will give British tax havens six months to open their books.

Mills said if anything Jersey and Guernsey are leading the UK in a number of areas.

Watch: Chief Minister rubbishes Miliband claims

Jersey's Chief Minister, Senator Ian Gorst, has defended the island's tax transparency saying their standards are ones that others could follow.

Gorst's response comes after UK Labour leader Ed Miliband's threats that if his party is voted into power in the next elections, he will give British tax havens six months to open their books.

Miliband had said he could put Jersey and Guernsey on a tax black-list unless measures are made to improve transparency.

But the Chief Minister told ITV News that Jersey regularly meets all the necessary standards with regards to tax.

Angry reaction to Miliband's comments

There's been angry reaction to comments made by the UK Labour leader threatening to blacklist Jersey and Guernsey.

Ed Miliband says if his party is voted into power in the next elections, he will give British tax havens six months to open their books.

Islanders and politicians have leapt to the defence of the Channel Islands, posting comments on our social media sites.

One Deputy says Guernsey is more compliant than the UK when it comes to transparency.

We know who is doing business in Guernsey, the UK can't say the same thing. And there are many, many countries around the world that would view the UK as probably the biggest tax haven in the world.

– Deputy Kevin Stewart, Commerce & Employment Minister

Treasury Minister 'awaiting Miliband's letter with interest'

Guernsey's Treasury Minister, Deputy Gavin St Pier, has responded to comments from UK Labour leader Ed Miliband.

The UK MP said he intends to write to British tax havens telling them they have six months to 'open their books' or face being black listed, if the Labour party win this years' election.

Deputy St Pier says "We will await Ed Miliband's letter with interest".

We will await Ed Miliband's letter with interest. We have held a number of meetings with Labour's shadow team over the past two years, and those meetings have indicated a greater level of understanding of Guernsey's track record on tax transparency than is reflected in today's media coverage.

Guernsey is also one of the very few jurisdictions in the world that regulates trusts and corporate service providers in order to provide timely and robust beneficial ownership information.

We would of course be pleased to share our extensive experience with the UK to enable it to improve its own standards in this area.

We will also be very interested to hear how Labour plans to compel other countries to meet the same standards that Guernsey meets.

– Deputy Gavin St Pier, MINISTER FOR TREASURY AND RESOURCES
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