IoM supports 'understandable' review of Crown Dependencies

Although the Government acknowledges progress has been made by some offshore jurisdictions to improve financial regulation and transparency, there is 'growing international pressure' to meet global norms with regards to taxation, according to the Pre-Budget Report. By commissioning an independent review of British offshore financial centres, the government will consider their role in the global economy and long-term business strategies. However, it "will not consider changes to the UK's constitutional relationship". Brown says the announcement of the review across the three crown depend...