THE UK Chancellor fired a warning shot across the bows of off-shore tax havens yesterday as he announced a major review of how they transact business.

In a pre-budget report designed to show that he was taking robust action to address the fallout of the credit crisis, Alistair Darling said that jurisdictions would have to show that their tax regimes met international standards. The review, he added, would not examine the constitutional relationship between the UK and Jersey, Guernsey and the Isle of Man.  25-Nov-08.

http://www.thisisjersey.com/2008/11/25/warning-shot-for-finance/