Alderney, Guernsey Reviewing Fiscal, Economic Relationship
by Jason Gorringe, Lowtax.net, London
06 April, 2015
Government bodies in Guernsey and Alderney have agreed the scope of a review of financial and economic arrangements between the two international financial centers, which are based on an agreement dating back to 1948.
The 1948 Agreement has been reviewed on several previous occasions most notably in 1995. It is hoped that the latest review will update fiscal arrangements between the two islands, after Alderney raised concerns that Guernsey was receiving too much in tax revenue.
In addition, recommendations will be put forward to modernize the relationship between the two islands, in particular to tackle the issues of the depopulation and economic decline of Alderney, which has specialized in the area of e-gaming.
Alongside the publication of the report, Neil Harvey, the Chairman of the Policy and Finance Committee in Alderney, said: "We are delighted that this review is now starting to take shape, so that we may fully explore the financial relationship between the two islands. It is reasonable to hope that the review will identify areas which can be improved upon, to our mutual benefit."
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