Heather Bestwick, Deputy CEO of Jersey Finance, commented: “As is the norm these days, the Chancellor’s Autumn Statement contained few elements that had not already been widely trailed by HM Treasury. While we heard some strong language on tax matters, behind the political rhetoric much of the actual content of the statement was very much aligned with Jersey’s position and the position of our finance industry. As we continue to emphasise, Jersey is interested in high quality, high value and entirely legal business. We are therefore pleased to hear about plans to tackle promoters of aggressive schemes that seek to exploit UK tax law and support the introduction of a General Anti Abuse Rule (GAAR) as a measure that will hopefully add clarity to the UK’s highly complex tax code. In terms of the stated aim to create a UK centre of excellence for tackling offshore evasion, this is an ideal opportunity for Jersey to work closely with the UK to demonstrate our stringent defences and zero tolerance approach to tax evasion, something that is a criminal offence in Jersey.”