Written question asked by Lord Foulkes of Cumnock (Labour), in the House of Commons. It was due for an answer on Thursday, 17 October 1996. It was answered by Michael Jack (Conservative) on Thursday, 17 October 1996 on behalf of the Treasury.

Treasury

Question: What is his latest estimate of the amount of revenue lost by the Exchequer due to the facilities provided for (a) individual United Kingdom citizens and (b) companies operating in the United Kingdom on each of (i) Jersey, (ii) Guernsey, (iii) the Isle of Man, (iv) Gibraltar, (v) the British Virgin Islands, (vi) the Cayman Islands and (vii) other overseas United Kingdom dependent territories; what measures have been considered to recover such lost revenue. - Will write.

Answer: Mr. Foulkes: To ask the Chancellor of the Exchequer what is his latest estimate of the amount of revenue lost by the Exchequer due to the facilities provided for (a) individual United Kingdom citizens and (b) companies operating in the United Kingdom on each of (i) Jersey, (ii) Guernsey, (iii) the Isle of Man, (iv) Gibraltar, (v) the British Virgin Islands, (vi) the Cayman Islands and (vii) other overseas United Kingdom dependent territories; what measures have been considered to recover such lost revenue; and if he will make a statement. [41244] Mr. Jack: I cannot answer substantively before Parliament is prorogued. I will, however, write to the hon. Member.

Secondary information

Type: Written question
Reference: 41244; 282 c1117W;282 c1115W
Session: 1995-96
Subjects: Crown dependencies Channel Islands Cayman Islands British Virgin Islands Isle of Man Tax avoidance Tax yields Tax havens