Treasury Minister Delivers Prestigious Gresham Lecture

Treasury Minister Anne Craine MHK delivered the prestigious Sir Thomas Gresham Docklands lecture in November, on the subject of 'Extinction or Evolution – The Future for Offshore Centres'

Mrs Craine told the audience of more than 300 leading City financiers, regulators and tax experts that the Isle of Man has an important role to play in international finance and highlighted the contribution the Island makes to the City of London.

She noted Michael Foot's remarks that, "the Crown Dependencies made a significant contribution to the liquidity of the UK market. Together they provided net financing to UK banks of $332 billion dollars in the second quarter of 2009."

Mrs Craine said, "Whether it is listing, upstreaming, asset management, insurance, or shipping – or even the space industry - everything the Isle of Man does, materially and positively supports the larger centres, or hubs. This is why the Isle of Man is a core asset to the City of London."