Economist says hint no big threat to Island
A suggestion the UK could become a tax haven if it makes a clean break with the European Union has been described as hypocritical by a Manx economist.
At the weekend, Chancellor Philip Hammond said if Britain was forced to leave the EU without an agreement on access to the single market or free movement, it could instead adopt a low-tax economic model.
Economist and Chairman of Manx Technology Group John Webster says the comments have raised eyebrows in the Manx business community - as the Island has had to defend its position as an offshore jurisdiction for two decades.
However, Mr Webster says the suggestion poses no great threat to the Island's competitiveness: