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following astonishing remark with respect to the British position…”This is an

anachronism, a hangover from the dark ages. It’s a loophole for the wealthy few that isn’t

available to most of us. It has turned the U.K. into a tax haven and is hardly appropriate

for a government committed to modernization.”68

The Times article publicly has brought to light the double talk which has dominated the

British governments’ views with regard to the need for reform in tax haven countries.

Indeed, some of its present colonies and associated territories such as the Channel Islands

and Bermuda and Cayman Islands are understandably disconcerted by the refusal of the

government to make the necessary changes to its tax regime. An expert in the private

banking arena has commented that ‘ the non dom rules make Britain a tax haven under

the cover of the European Union. You have all the advantages of living in a developed

and stable country but with very low taxes.’69

It is clear that the non dom rules has placed Great Britain at a competitive edge as it

provides a legal loophole for the rich and wealthy. As the expert opinion above shows,

the stability and advanced climate of The United Kingdom has helped to enhance the

reputation of London as the preferred center for offshore business.70 However, as noted

67 Ibid page 13 One non dom, Lord Paul of Marylebone, is a Labour Party Peer who ranks among the 100 richest people in Britain. His company gave several hundred thousand pounds to the Labour Party. He is described as one of Labours’s biggest benefactors.

68 69 70 Ibid page 12 Ibid page 13 Pierre Gerbier is a private banker at the Royal Bank of Canada Although Inland Revenue and the U.K. Treasury have repeatedly refused to estimate how many people in Britain claim nom dom status, there must be hundreds of thousands of them. Estimates range from 250,000 to more than one million. The French embassy in London has estimated that there are at least 180,000 French nationals living high net worth individuals. They include the French supermodel Laetitia Casta who after being selected as the face of France has moved to London

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