Alastair Kneale's blog

NEWS FROM THE CELTIC LEAGUE

Another financial saga with links to the Isle of Man that has popped up within the last twelve months but hasn’t provoked much interest here is the story of HEATHER CAPITAL.

NEWS FROM THE CELTIC LEAGUE

The Chief Financial Officer of the Treasury has responded to a query from the Celtic League sent to Treasury Minister, Eddie Teare, MHK, about recent allegations about the IOM financial industry broadcast by the Canadian Broadcasting Corporation.

A link to out query to Mr Teare is set out below;

https://www.celticleague.net/…/mann-government-pressed-on-…/

NEWS FROM THE CELTIC LEAGUE

Today’s helping on the CBC, CRA, KPMG tax saga.

https://www.facebook.com/thenational/videos/10153111923087686/

This video clip brings together some footage in the other clips but with additional material including what the presenter describes as ‘confidential discussions’ between KPMG and the Canadian Department of Justice in the hope of ‘settling the matter quietly out of Court’.

NEWS FROM THE CELTIC LEAGUE

The CBC Story about alleged tax evasion via the Isle of Man which we reported on last week is starting to ‘grow legs’.

Although the revelations focused on one family’s finances Canadian Revenue Authorities (CRA) believe such ‘tax planning’ may be more widespread.

In a new twist a tax litigation firm in Montreal Canada’s second largest city is advising anyone using ‘shell companies’ to avoid tax liabilities that they (as they put it) could walk away ‘relatively unscathed’.

The firm say;

NEWS FROM THE CELTIC LEAGUE

The Lord of Man seems to having something of an ‘annus horribilis’ in relation to dealings with her loyal subjects in the ‘Crown Dependency’ on Mann!

Last week it was revealed that one of her appointees, suspended Attorney General Stephen Harding is considering suing another of her appointees (her man on the ground here) the Lt Governor, Adam Wood.

NEWS FROM THE CELTIC LEAGUE

“How much more money is sitting in offshore accounts that could be contributing to Canada’s infrastructure, schools and hospitals?”

These are the questions that are starting to be posed now by politicians in Canada following revelations about one family there using something called a ‘tax product’ they signed up to in 2000.

NEWS FROM THE CELTIC LEAGUE

When Phil Gawne made a statement some months ago about freeing up more land for development Mec Vannin not surprisingly reminded him of the historic statement made by himself and others when the were indicted and convicted for their part in FSFO campaign.

The statement carried in the press was called ‘WHY they did it’ and it set out in some detail the reasons they felt compelled to take direct action.

NEWS FROM THE CELTIC LEAGUE

It’s the old adage ‘you wait for a bus and then two come along at once’. It seems it’s the same with allegations of impropriety involving the Island’s financial services agency.

First we had Mick Wallace TD standing up in the Dail and alleging murky dealings involving NAMA’s North of Ireland portfolio and a mysterious bank account.

Now we have the Canadian Broadcasting Corporation airing its misgivings about Manx financial affairs.

NEWS FROM THE CELTIC LEAGUE

‘IOMPLC is in everyone’s interest’ No it’s not!

“We acknowledge that any projection of population growth and its broader impact on the economy – no matter how carefully it is calculated – will be subject to a degree of uncertainty. However, we strongly believe that the Draft Strategic Plan should be based on (and support) Government’s aims and objectives for growth in jobs and, therefore, population too.”

NEWS FROM THE CELTIC LEAGUE

You have to ask yourself at times if the Isle of Man Government is collectively ‘As Mad as a drove of March Hares’.

At any given time there are anything up to 15 - 20 government consultations on the go and some of the current ones are real ‘stonkers’.