Senior political figures in the UK have announced that the British government should consider imposing direct rule on the British Overseas Territories regarding their tax policies in light of release of the Mossack Fonesca papers.
Friends of the British Overseas Territories (FOTBOT) reiterates our support for all UK Overseas Territories to remain self-governing. The current constitutional relationships between Britain and the Overseas Territories has been together with the people of the Overseas Territories and have worked well.
The Overseas Territories have committed to meeting global transparency standards along with the rest of the world and last year, the OECD ranked 6 out of 7 Overseas Territories as being ‘Largely Compliant’ in their overall implementation of global transparency standards (the same overall ranking as the UK, Singapore and Germany). Direct rule from London would be seen as a dramatic step, particularly without any evidence of wrongdoing by the Governments of the Overseas Territories and in light of good reviews by the OECD.
The Overseas Territories are a vital part of the UK community and are home to thousands of dedicated professionals, families and individuals who are proud of their British heritage.
FOTBOT does not wish to criticise any political party, especially during an election period, and note that governments of all parties have enacted many beneficial policies towards the British Overseas Territories.
If you would like more information about this topic, please contact Robert Midgley, Public Relations Manager at FOTBOT at email@example.com