UK rep takes ‘Cayman’ to Labour Party Conference
(CNS): André Ebanks, the Cayman Islands London representative, and Cayman Finance CEO Jude Scott attended the Labour Party Conference in Brighton this week to promote the idea of tax neutrality among a rather hostile group, while their ministry and private sector colleagues were rubbing shoulders with royalty and wealth in Monaco. As the first time the Cayman government has organised an event at the Labour Conference, it provided an opportunity to speak with those still skeptical about the offshore sector here.
A fringe event to discuss methods of taxation, including Cayman’s tax neutral regime, was hosted by the Cayman delegation and moderated by Prospect Magazine. The event involved a chaired discussion between Catherine West, MP for Hornsey and Wood Green in Greater London, and Scott, discussing
Officials stated in a release that Scott outlined the facts about tax neutrality for the audience of Labour supporters and clarified Cayman’s process for verifying and sharing ownership information versus self-reporting public registers.
“I was very pleased that the Cayman Islands Government Office in the UK presented the opportunity to engage with such a well respected MP in this forum; a lot of good even-handed dialogue and discussion took place,” Scott said. “We were able to reinforce the great track record and the benefits of our tax neutral regime globally to a traditionally doubtful audience. The conversation today was balanced and informed, and I was pleased to be able to neutralise some of the historic scepticism.”
Scott said that he wanted to send the message that Cayman’s representatives are available and willing to continue to engage and be a part of this conversation.
Meanwhile, at the conference itself, Ebanks met with Gibraltar and Falkland Islands representatives and discussed mental health issues with Mental Health First Aid England. He also met with Jonathan Reynolds MP, Shadow Economic Secretary to the Treasury.
“My first month in the post is off to a spirited start,” said Ebanks, who was posted to London this summer. He replaced Eric Bush, who is now the chief officer in the new ministry of trade that has been created to deal with international commerce. It falls under the premier’s portfolio and includes the London office.
“Attendance at the Labour Party Conference has been invaluable this year combined with our first ever fringe event in conjunction with Cayman Finance, we are ensuring that we have a much greater presence and are at the forefront of political discussions concerning our financial services,” Ebanks said. “We are delighted to have had the support from Cayman Finance and that Catherine West MP was willing to engage and discuss these important topics in a constructive and open manner. We very much look forward to further types of engagement like this to continue the conversation,” he added.
Given the current political turmoil in the UK and the Conservative government’s precarious position, as well as the continued uncertainty over Brexit, a general election is almost certainly on the cards for the UK before the end of this year. While the polls indicate that Labour is training the Tory Party, the shifting sands of British politics opens the possibility of Labour leading a coalition government.
While the Cayman government and the financial services sector have had traction with their message about Cayman among Conservative members, they need to win new friends in the Labour Party.
Without some influence among MPs in a party that has always been more hostile to the concept of offshore finance than their Tory colleagues, the sector could be in for an even more challenging time next year than it already is in meeting FATF recommendations, dodging blacklists and planning for open beneficial ownership registers.
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Category: Business, Financial Services
Labour should see wealth stashed by the greedy rich in offshore territories as simple sources of immediate capital taxation.
I assume we will have similar representation at the Conservative Party conference as well…?
Yes as Ms Farrington rightly pointed out and who gets those travel miles??? Aaaah yes Alden let the Fleecing continue eh buddie Boy! Please leave
Prince Albert right where he is as we still have people living in houses here without electricity in case you and your unity minions didn’t notice.
There are no political parties in the world that represent the needs of the common people.
They all have one thing in common, personal gain at the expense of the people that they claim to represent.
People are waking up from the left, the centre and the right to the deceptive polarization that has been foisted upon them.
We all have something in common. We are simple folk trying to make a decent, honest living for our ourselves and our loved ones.
We should be as cunning as serpents and harmless as doves and the polticians will be exposed in short order.
If your vote is for sale, you don’t deserve one.
What is Alden’s obsession with Monaco?
It is not the Premiers obsession. It is the need for our Ship Registry folks along with high ranking government officials to attend relevant events. Lawyers go to legal events. Accountants go to accounting events, Get the picture. Building and retaining business.
The next time you see a picture of a super yacht, look closely at the registry flag. In Monaco there will be many flying our flag.
2.01pm So how many of our political junketers are qualified in ship surveying and registration. They add nothing apart from increased expenses charged to the taxpayer. As for super yachts your reference to “picture” is spot on, we will never see one here, they go to the playboy havens where the money is, closely followed by our politicians.
If you see the pictures on his FB page (just posted), it doesn’t look like the person’s who joined him there are from the ship registry office, it looks like a Dart reunion to me, wait Mr Hew is there.
2:01, But is it really necessary to go twice a year to Monaco?
I understand that travel is needed to promote our islands and services offered. However, I certainly see an issue with him, and those accompanying him, flying first class on British Airways. Seems in poor taste them sitting there looking like cats that swallowed canaries whilst cost of living leaves most of the country living from pay cheque to pay cheque. It does not affect their bank balances as we pay but I believe OUR money could be put to better use than over priced airline tickets. The Honourable Premier should act honourable and not arrogant and we should stop electing representatives who do not do right by us!!
As much as I don’t like him personally. It is better that he travel first class. It looks bad as a country if the premier of the country travels anything less than first class and makes the country look broke.
Great biking, good champagne and wonderful parties.
There we go…some respectable representation.
Let’s go to a conference where the political party want to shut Cayman down. Makes sense to me.
I wish Mr. Ebanks the best of luck with his new appointment but fear that he is being overly optimistic if he truly believes that there will a meaningful and mutually beneficial relationship if Jeremy Corbyn is installed as Prime Minister…for those in doubt just google the organisation that effectively controls the labour party-Momentum.
Well done Mr. Ebanks and Mr. Scott!
I wish Mr. André Ebanks all the best in his new position. I suspect that he will quickly come to understand the rules of the road and will make adjustments accordingly.
Good job gentlemen. Shows maturity to engage even where your audience is skeptical.
Skeptical is an understatement! Ideological hatred probably closer to the truth with Corbyn and his pound shop marxist comrades.
Normally I’d applaud every effort to represent Cayman but the current Labour party are a bunch of shouty communist idiots so I fear any effort to reason with them would be a complete waste of time.
Yes, scary to think our CIG might be aligned with those commies😱
That seems extremely unlikely. These idiots proudly call themselves marxists. No exaggeration. We better hope they never get into power!