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PM: Island is not a tax haven

The Isle of Man many have finally won the war of words over the label 'tax haven'.

During questions in the House of Commons, UK Prime Minister David Cameron faced a query from Labour East Lothian MP Fiona O'Donnell.

She wanted to know what the Crown Dependencies were doing about a convention on tax matters which was discussed before the G8 summit took place.

Mr Cameron told her the Isle of Man and nine other jurisdictions are putting action plans into place – before pleasing Manx politicians with this statement:

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