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5.4 Deputy M. Tadier of the Minister for Economic Development regarding the Zero/Ten tax policy:
Does the Minister agree that the uncertainty surrounding the future of the Zero/Ten tax policy is potentially harmful for Jersey's business interests following clear statements from the E.U. and the U.K. Treasury that it must be changed, and if so, what pressure, if any, is he putting on the Minister for Treasury and Resources to introduce a long term viable alternative?
Senator A.J.H. Maclean (The Minister for Economic Development):
Jersey Finance, the industry and credible experts fully support the current handling of matters related to the Island's corporate tax regime. The Council of Ministers fully supports the Minister for Treasury and Resources in his handling of this complex matter. The greatest risk to Jersey's business interests to local jobs and to our tax revenues is, in fact, coming from a small minority of individuals who continually raise this issue and use every opportunity to attack our finance industry.
- Deputy M. Tadier :
I am glad that the Minister has come out with that fairly predictable but probably slightly reactionary statement. Does he, first of all, agree that it is not the place of Jersey Finance to dictate what elected parliamentarians in Jersey may or may not ask and dictate what they perceive as negative when, in fact, they are simply questions which need to be asked in any democratic society? I will leave it there and maybe have a supplementary.
Senator A.J.H. Maclean:
Jersey Finance represents the finance industry. They have extensive membership throughout the finance industry and, as such, their views are representative of what the industry as a whole thinks about this matter, and I think that was made perfectly clear in my answer.
- Deputy G.P. Southern :
Can the Minister inform Members why he chose not to attend any of the information sessions - the lecture - by Richard Murphy in the recent weeks and what was he doing that was so important that he avoided it?
Senator A.J.H. Maclean:
The Deputy will, I assume, be well aware that experts from the local finance industry have, indeed, engaged with Mr. Murphy in the past. Unfortunately, that individual, who I believe is a chartered accountant from the U.K., is not prepared to listen to other views, and on that basis it has been decided that engagement was going to show no benefits whatsoever.
- Deputy G.P. Southern :
Can the Minister confirm who is not listening, is it Richard Murphy or is it him? Senator A.J.H. Maclean:
No answer for that.
- Deputy T.M. Pitman of St. Helier :
I just ask the Minister would he not agree that the real danger to the ordinary people of Jersey is by a group of Ministers who just refuse to listen to any alternative argument? In fact, I would say, does he agree that people like him are the enemy within?
Senator A.J.H. Maclean: No.
- Deputy M. Tadier :
First of all, it was a very good meeting that was organised and what was particularly useful, and we are appreciative as politicians, is that we got to talk to individual members of Jersey Finance on the table and when you hear comments like: "I would not tell my clients to bother setting up a company in Jersey" it is very different from what one is hearing from the likes of the Director of Jersey Finance. My question was about Zero/Ten and the handling of it. Does the Minister agree that, in fact, we have not had any meaningful leadership from the Minister for Treasury and Resources on this and that, in fact, he has fully admitted that the Council of Ministers and advisers do not know what to do about Zero/Ten, so the Jersey Finance is perhaps being more polite and loyal rather than saying that they endorse the current directionless state of the Council of Ministers?
Senator A.J.H. Maclean:
I am not sure the Deputy is listening. I made it quite clear that as far as the industry is concerned, as far as the Council of Ministers is concerned, we are supportive - fully supportive - of the position that the Minister for Treasury and Resources has taken on this complex matter, and we continue to be exactly that. I have nothing further to add.