Government could sell local Rock
Tuesday 19th February 2008, 2:30PM GMT.
THE UK Government could soon look to offload its Guernsey branch of Northern Rock following yesterday’s nationalisation. There are widespread reports that it is looking to slash thousands of jobs and sell off branches.
And ownership of the local subsidiary is expected to sit uncomfortably with a Labour administration when many of its MPs consider Guernsey to be a tax haven.
Tax Justice Network founder and Tax Research LLP director Richard Murphy did not think the government would own the local bank for long.
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