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Treasury Minister Anne Craine is describing a statement from the United Kingdom Treasury on the future of the Island's Zero-Ten business tax regime, as 'highly misleading'.
The statement highlights aspects of the policy which are said to give rise to 'harmful effects'.
These have been noted by the European Finance Ministers group ECOFIN
The group has not yet decided its stance on Zero-Ten, instead handing the job to a High Level Working Party which will report back by next summer.
Zero-Ten is currently in place in both Jersey and the Isle of Man, but has been dropped by Guernsey, whose media have seized on the statement, claiming it is evidence the UK wants the tax regime abolished.
However, Mrs Craine insists that point hasn't yet been reached:
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