Skip to main content

UK 'tax havens' should be on Brexit agenda – German MEP

THE UK must end the role its offshore territories such as Guernsey play in harbouring 'secretive companies' if it wants to secure a good deal with the EU post-Brexit, a member of the European Parliament has said.

UK 'tax havens' should be on Brexit agenda – German MEP
UK 'tax havens' should be on Brexit agenda – German MEP / Guernsey Press

Sven Giegold, a German MEP for the Green Party, said that the future of low-tax jurisdictions linked to the UK should be put on the table during Brexit negotiations because they assist international tax avoidance.

In his blog, Mr Giegold, who is a financial and economic policy spokesman in the European Parliament, said: 'The UK and its offshore territories play a sad, key role in the provision of secretive companies.

'The ending of the UK's tax haven business must become a priority during the Brexit negotiations as a condition for the access to the EU's capital market.'

Earlier this year, Mr Gielgold also criticised the UK for trying to water down plans for a EU blacklist of 'tax havens' because it was trying to protect the Channel Islands.

'In particular, Britain is trying to protect its Jersey and Guernsey territories before it leaves the EU.'