Island in financial centre review

A review of British Offshore Financial Centres carried out for the UK Treasury is currently scrutinising Guernsey.

The review is looking at the long-term opportunities and challenges facing the British Crown Dependencies and Overseas Territories as financial centres.

Financial supervision, transparency, and taxation will all be scrutinised.

A former official at the UK Treasury and in the UK Financial Services Authority who is carrying out the review, is currently in Guernsey.

'Good light'

During the day he is meeting Chief Minister Lyndon Trott, Treasury and Resources Minister Charles Parkinson, and Commerce and Employment Minister Carla McNulty Bauer.

He is also holding talks with key figures from the Guernsey Financial Services Commission and the financial services sector.

The UK government announced an independent review of financial stability and transparency in the financial centres of the Crown Dependencies and Overseas Territories, in Chancellor Alastair Darling's Pre-Budget Statement in November.

Deputy Trott said: "We have been pleased to co-operate with a review which I am sure will continue to show the island in a good light.

"There is a demanding schedule of meetings lined up for the day which will offer an excellent overview of the financial services sector in the island."