Chief minister's tax list warning

Chief Minister Lyndon Trott denies Guernsey is a tax haven

Guernsey's economy could suffer if the island is put on a black list of tax havens, its chief minister has said.

The warning from Lyndon Trott comes ahead of a meeting of finance ministers from the G-20 group of leading economic powers in London.

At the summit on 2 April, the group is expected to seek ways to fight tax evasion through offshore centres.

Mr Trott has consistently denied tax haven allegations, insisting Guernsey is a low-tax jurisdiction.

'Instantaneous stimulus'

He told BBC News the stakes were high and Guernsey could benefit or suffer.

"If we are on a white list, there is no doubt in my mind that will create an almost instantaneous economic stimulus," he said.

"However, if we found ourselves on a black list, the contrary would be true."

The G-20 (group of 20) was established in 1999 to bring together industrialised and developing economies to discuss key issues in the global economy.

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