TUC's tax haven claims are denied

The TUC wants banks to reveal how much tax is being avoided

There is no reason to believe Jersey is being used by major high street banks to avoid paying tax, the island's chief minister has said.

Terry Le Sueur's comments follow claims by the Trades Union Congress (TUC) that banks are using "notorious tax havens", including Jersey.

It said banks, including Lloyds, RBS, HSBC and Barclays, have 170 subsidiary companies in Jersey.

All four banks said they comply with all relevant tax laws.

Mr Le Sueur described the TUC's claims as "allegations and not facts".

He told BBC News there would have to be a very good reason for disclosing that type of information.

'Transparent account'

"The reviews that we're having, such as the current one with HM Treasury and the Foot review, will establish the facts," the chief minister said.

"That's far more useful to us than having allegations thrown at us which are difficult to refute because they come in all shapes and sizes."

The TUC has called for banks to reveal how much tax is being avoided by using subsidiary companies.

Its economic and social affairs spokesman, Adam Lent, said banks which are subsidised with public money should "come clean".

"We need an open an transparent account of what's actually going on within the banks," he said.

"We can't do that while potentially - who knows - billions of pounds are being squirreled away in tax havens like the Cayman Islands and Jersey."

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