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UK acknowledges Island's efforts, at last!

Treasury Minister Allan Bell says he is pleased the United Kingdom government has at last acknowledged the efforts being made by the Isle of Man to operate as a responsible, top quality finance centre.

Financial secretary to the UK Treasury Stephen Timms says the Island's commitment to enhanced transparency and exchange of tax information is very encouraging, and others should follow its example.

Soon after the Island achieved OECD white list status, a month ago, Prime Minister Gordon Brown suggested the pressure was still on, warning all the UK's dependent territories they must readily meet any new international standards.

Mr Bell says the letter from Mr Timms follows a meeting they had in London recently, at which he stressed the need for some recognition of the Island's efforts:

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