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.
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.
Jersey's Chief Minister has responded to Ed Miliband's threats to put the island on a tax black-list by inviting him to Jersey.
Lord Mandelson said he strongly supported the Labour leader and dismissed claims that he had 'sounded out' a possible replacement.
Offshore tax havens would have just six months to open their books or face international blacklisting if Labour win the election in May.