Guernsey’s government joined Bermuda’s in welcoming the final report of the ‘Foot Review’ [see IJ web site - http://www.insurancejournal.com/news/international/2009/10/30/104932.htm]. Guernsey’s Chief Minister Deputy Lyndon Trott stated: “In my view this report vindicates the position of Guernsey and the other Crown Dependencies.”
He added that Foot’s report, coming from an “independent expert,” confirms the issue that the three Crown Dependencies [the others are Jersey and the Isle of Man] do provide a positive economic benefit to the UK.
Trott also pointed out that the report had “found Guernsey to be a favorable, compliant and transparent international financial center, which can offer high quality professional services for the benefit of the global economy.”
He welcomed comments from Lord Bach, Minister for the Crown Dependencies at the Ministry of Justice, who described the report as considered and helpful. “Lord Bach has expressed his confidence that the Crown Dependencies will continue to lead in terms of meeting new financial standards,” Trott stated. “I too am confident that we will continue to be regarded as an example for other offshore financial centers to follow.”
Source: Guernsey Government – www.gov.gg
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