Guernsey has 'integrity, honesty and is regulated with flexibility'
GUERNSEY'S relationship with the UK is not set for long-term damage, according to former Chancellor Lord Lamont.
'I would be pretty convinced that the government values the Channel Islands and don't want to see a fundamental change in the relationship,' said the former Conservative minister, following his appearance as a keynote speaker at the Guernsey Funds Forum in London.
Lord Lamont, who has long business connections with Guernsey, said that he appreciated the role of offshore centres in financial services.
'I hope it [the relationship] is not changing,' he said.
'I believe that offshore centres have an important role to play. There is a lot of footloose capital in the world and it's got to go somewhere. Guernsey has integrity, honesty and is regulated with flexibility in my experience. I have always been a defender of the islands. Governments may wish they could control all the money and tax it but they can't, so it's far better it goes somewhere reputable with a lot of integrity like the Channel Islands.'
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