Cayman hits back at Brown

| 29/05/2009

(Telegraph): Gordon Brown has been at the forefront of moves by the world’s leading economies to curb the growth of offshore financial centres whose friendly tax regimes have made them popular with thousands of companies. But his mission has put him on collision course with these countries – which collect vital revenues from their financial services industries – and many of which are members of the British Commonwealth. Anthony Travers, chairman of the Cayman Islands Financial Services Association says Cayman is a stable, transparent, tax neutral jurisdiction with a secure, British legal system used by global financial institutions to access international capital markets.

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