Recent media coverage around the Paradise Papers has drawn
unwarranted negative attention to activity in Jersey and IFCs more
widely.
Disappointingly, the attempt to paint all offshore activity as
secretive and founded on abusive tax avoidance is both misleading
and one-sided. It doesn't reflect the true picture, and it
neglects to mention the vital role that IFCs play in encouraging
international investment, which has a positive effect on countries
across the globe.
It's a shame, because in this geopolitically unstable world,
having sensible conversations about global trade, overseas
financial flows and cross-border investment would be really
helpful. Instead, this theft of data – the only act of
criminality that I can see thus far in this whole campaign –
has sought to reinforce outdated stereotypes about offshore
jurisdictions.
