Clarification sought over Darling’s ‘long hard look’
Wednesday 5th November 2008, 2:29PM GMT.
GUERNSEY is pressing the UK Government to find out if it wants to examine its relationship with the Crown Dependencies.
It follows comments by Chancellor Alistair Darling at a Treasury Select Committee inquiry into the banking crisis. Isle of Man representatives have reacted angrily to the situation after Mr Darling said it was a ‘tax haven sitting in the Irish Sea’.
Chief Minister Lyndon Trott (pictured) said events at Monday’s inquiry were followed up.
‘We note with interest the Chancellor’s comments about the need to take a “long hard look” at the relationship between the UK and the Isle of Man and are seeking clarification from the UK Government on any potential implications for the other Crown Dependencies,’ he said in a statement.
It appears Mr Darling was concerned about people being unclear when they invested money in the islands that they were not covered by Britain’s compensation scheme if a bank collapsed.
In calling for the examination, Mr Darling stressed there should not be a ‘knee-jerk reaction’.
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Mr .Darlings concerns about investors needing to be aware that they weren’t covered by the UK’s depositor protection scheme has to be taken notice of in respect of Guernsey. Are we vulnerable in this area.
Having said that, at last it is good to be able to congratulate Lyndon Trott on taking some prompt action.
Tony Webber
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It seems as though deputy Trott is showing signs of concern. How about some for the LG depositors whilst your feeling this way then? Rather than trying to bail out a sinking ship with a sieve he should be putting local peoples minds at rest. What was his take on it again. Schools and Health before any bail outs. Just doing his best to find popular get out of jail for free alternatives and dodging the real issue as usual. Deputy Trott needs to explain to everybody why things have led to where we now find ourselves. He also needs to answer why it has happened whilst he is manning the helm. Why look to the UK for any answers? Have they highlighted Guernsey. No they haven’t and we all know why. A high proportion of their elite use our local tax benefits to their advantages. A win/win situation. The people Deputy Trott needs to fear are the ones he claims to represent and once this has been adressed start fearing the new US President an also the French President. It is here that the pressure will be coming from and they have a much sharper tongue and bigger muscles to flex. He definately won’t be demanding any effing respect fom these nations because they have already made it clear they haven’t any. What then Mr Trott? Turn on the tears to the UK? You are just wasting time and money whilst failing at all levels across the board.
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Crocodile tears perhaps?
We Landsbanki customers helped to pay Deputy Trott’s salary and now he doesn’t want to know.
Quote “We have to pay for schools, hospitals and a new runway” – BLOX – the money won’t be there Mr Trott unless you get your act together regarding LG customers.
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It in incumbent upon the Guernsey deposit takers to fully explain to all their customers about the lack of a Guernsey deposit protection scheme and the fact that the UK’s scheme does not apply in Guernsey.
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The Chief Minister is right to have serious concern but he should have a care. I am sure he must realise it. Darling is a man under intense pressure where his public are watching his every move as he spends their money and borrows the rest just to stay afloat. Positively billions of money!! In so doing he has to convince himself and his public that anticipated growth will enable him to repay the borrowing. Joke?! His imagination has to be vivid to see the economy make the necessary advances though recession, unemployment, foreclosures, inflation at the door, massive personal debt and what else? Thats just the UK. So unless we can demonstrate that we are of real value to his cause we might be choosing just the wrong moment. I would favour keeping our eyes down in the hope that his sorti on the IOM will keep him busy enough. Who knows he may forget we are here. Or even think we are a suburb of Weymouth!
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Paul – quite possibly the best post I have seen on this website this year.
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Deputy Trott
If you have nothing to hide then we should have nothing to fear? Roll out the red carpet and hold the doors open as wide as possible and welcome all with a smile. Maybe your fear is within what others will find on these well respected shores then? You must be realising by now that you lost the grasp on reality but still you are trying to steer the public and media in an opposite direction. What next deputy Trott? Maybe a trip to the White House or even a trip to see President Sarkozy? They will tell you to DO ONE. It just puzzles me why our electorate haven’t demanded the same already? I would more than welcome other peoples views on this walking, talking liability of a CM?
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Dear Mr. Trott,
Please focus your attentions upon the only chance for LG depositors…
The governement of Iceland. And seek all assistance available from the UK government to force them to do the right thing.
For it seems only they are in a position to pay up what is owed.
Having them meet their financial obligations will serve to reassure depositors that you are competent and willing to fight for the reputation of Guernsey which is all but lost.
Herein is the golden opportunity for your government and yourself..
Come out and shout and scream to the world, (if neccessary) But -> FIGHT for the right thing!
Openly and without reservation actively SUPPORT the Landsbanki Guernsey depositors and do all that can be done to have the Icelandic government pay them back the money the are owed ASAP.
Do the right thing .. and BE BSEEN to do it!
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Paul another fine posting.
A bit flawed though, as for Mt Trott to be perceived as a liability then people would have to actually have a care, or be concerned in the first place.
Guernesy doesn’t do politics – they just let people in glass houses without any common sense or integrity run the show; when it goes wrong people moan, but it’s no democracy that is for sure.
Mr Trott is about as much use as a chocolate teapot.
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