Guernsey starting to win the ‘we’re not tax haven’ battle
GUERNSEY is starting to win the argument when it comes to countering claims it is a tax haven, according to a senior member of the finance industry.
Dominic Wheatley, chief executive of promotional agency Guernsey Finance, said ‘significant progress’ had been made in 2018 through the consistent efforts of his organisation as well as that of P&R president Deputy Gavin St Pier and vice-president Deputy Lyndon Trott, who is chairman of Guernsey Finance.
Guernsey Finance having a London representative as well as membership of TheCityUK – which champions the UK’s finance industry – was also making a positive difference.
‘Amongst the most informed audiences we are starting to win the argument about the perception of us in terms of our position offshore and our indeed position historically as a tax haven. Those are important things to do,’ said Mr Wheatley during Guernsey Finance’s annual update to industry held at St James’s yesterday.
‘This work is ongoing. Reputation is earned in inches and lost in miles. So, it is important that we keep edging forward going forward and make sure that we manage the downside risk.’
Besides the outcome of Brexit, he said that upcoming highlights included events and publications as well as product-related strategy initiatives. Increased business development work in the Middle East and South Africa alongside the key market of the UK, USA, South East Asia would also be undertaken – building on positive work undertaken in 2018.
Mr Wheatley highlighted how work in Asia had led to two families moving to Guernsey with a third following them.
He also announced the appointment of James Crawford as head of business development and Christine Gill as its new London representative.
The role of the agency’s China representative, Wendy Weng, will also be developed into one of regional responsibility for South-East Asia. All have extensive industry experience, the event was told.
Other members of Guernsey Finance also provided updates on activity, including Dr Andy Sloan, who talked about a new strategic framework developed to drive the industry forward.
Miles Celic, chief executive of TheCityUK, was the keynote speaker.
