Deputy Prime Minister Nick Clegg meets Chief Minister Lyndon Trott at yesterday’s British-Irish Council session.

DEPUTY Prime Minister Nick Clegg yesterday declined to endorse the zero rates of corporate tax adopted in Guernsey, Jersey and the Isle of Man.

He was speaking during a press conference that followed the British-Irish Council summit in London, a forum which brings together leaders from all the jurisdictions in the British Isles.

When asked whether he supported the zero rates of corporate tax adopted in the Crown Dependencies, and whether there were any lessons that could be learnt from them, Mr Clegg stressed that the three islands had a different fiscal status.

‘The key thing is that while competitiveness in taxation undoubtedly can be a good spur to creating environments for greater economic growth, you must have proper transparency and accountability within [which] tax systems operate.’

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