EU: Savings Directive

House of Lords written question – answered on 20th May 2008.

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Photo of Lord Marlesford Lord Marlesford Conservative

asked Her Majesty's Government:

Further to the Written Statement by Lord Davies of Oldham on 3 April (WS 123-25), which countries outside the European Union have come into the framework of the European Union savings directive; on what dates such agreements were reached; and with which countries the European Commission is in discussions with a view to bringing them into the framework of the directive.

Photo of Lord Davies of Oldham Lord Davies of Oldham Deputy Chief Whip (House of Lords), HM Household, Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords)

The following countries and territories outside the European Union participate in the framework of the savings directive under agreements signed in 2005 when the directive came into operation: Andorra, Monaco, Liechtenstein, San Marino, Switzerland, Jersey, Guernsey, Isle of Man, Anguilla, British Virgin Islands, Cayman Islands, Turks and Caicos Islands, Montserrat, Aruba and Netherlands Antilles. In October 2006 the Council of Ministers asked the Commission to open exploratory discussions with Hong Kong, Singapore and Macao as a first step in extending the framework to other important financial centres. Informal discussions have taken place with a number of other countries.

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