Overseas Territories: Tax Haven Status - Question

Part of the debate – in the House of Lords at 2:36 pm on 26 February 2024.

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Photo of Baroness Vere of Norbiton Baroness Vere of Norbiton The Parliamentary Secretary, HM Treasury 2:36, 26 February 2024

My Lords, the UK has not made any recent quantitative assessment of the economic benefits of the overseas territories to the UK, but we continue to support the territories to build vibrant and sustainable economies, including through encouraging greater links to the UK economy. The overseas territories are an integral part of the British family. The elected Governments of inhabited overseas territories are responsible for fiscal matters, including tax, and are committed to upholding international tax standards.