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Three bags full, sir!

Posted by Richard Saturday, January 22, 2005

The EU commission has ordered (note the word, "ordered") the UK government to end tax breaks for companies with offshore operations in Gibraltar.

It has sent a formal letter to the UK government instructing it to end the Exempt Company tax regime by the end of 2010 because the scheme violates EU competition rules by giving certain companies a financial advantage.

Jonathan Todd, spokesman for competition at the commission, said: "We have had discussions with the British on this subject. We are very optimistic that this measure will be eliminated."

Too right: there will be only one response of the British government to this "order"? Yes sir…! Is there anyone out there who still believes we are an independent nation?