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Chief Minister welcomes review of Crown Dependencies and Overseas Territories 24 November 2008

CHIEF Minister Tony Brown MHK has welcomed the review of Britain’s Crown Dependencies and Overseas Territories announced by Chancellor of the Exchequer Alistair Darling in his pre-Budget statement today (November 24, 2008).

The Chief Minister commented:

‘The announcement of this review across the three Crown Dependencies and 14 Overseas Territories is understandable in terms of the turbulent economic climate being experienced around the globe.
‘As far as the Isle of Man Government is concerned we welcome this exercise as another opportunity to show that the Island is well regulated, financially stable and internationally responsible.
‘The Isle of Man has a strong record of compliance with the highest global standards in the areas of financial regulation, taxation, transparency and international co-operation. This has been confirmed by bodies such as the IMF and the OECD.’

The review announced by Mr Darling today does not include the Isle of Man’s constitutional relationship with the United Kingdom.

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