Guernsey welcomes conclusions of Foot Review
The States of Guernsey has welcomed the final report of the Foot Review, which examines the long-term opportunities and challenges facing British Crown Dependencies and overseas territories as financial centres.
Guernsey’s chief minister Deputy Lyndon Trott says: “In my view this report vindicates the position of Guernsey and the other Crown Dependencies. Mr Foot finally confirms the issue that the three Crown Dependencies do provide a positive economic benefit to the UK.
“Once again an independent expert has found Guernsey to be a favourable, compliant and transparent international financial centre, which can offer high quality professional services for the benefit of the global economy.”
Deputy Trott has also 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. I too am confident that we will continue to be regarded as an example for other offshore financial centres to follow.”