Erm, no, it would appear that Ritchie does not know his overseas territories

First, the Turks & Caicos are far from alone in being bust – so are Jersey, Guernsey and the Isle of Man – all of whom are running big deficits. Cayman, the Bahamas and Bermuda are also in the club. And as the report makes clear, they can be reckless because we carry the can. And they are being reckless as a result.

Second, if Labour was reckless for not intervening when reliance on financial services (which was actually relatively modest in the T & C’s case) left the islands vulnerable then there is now an undoubted duty to intervene in Jersey, Guernsey, the Isle of Man, Cayman, the Bahamas and Bermuda.

The Bahamas are fully independent, not overseas territories or Crown Dependecies.

So now he\’s urging that we \”intervene\” in the tax system of a fully independent country. Colonialism anyone?

12 thoughts on “Erm, no, it would appear that Ritchie does not know his overseas territories”

  1. Being a resident on the Isle of Man, I find this a bit much coming from Ritchie. It was his interference that caused the much of our deficit in the first damn place.

    Bastard!

  2. Evidently Ritchie has become a full-fledged member of the Bush/Cheney/Rumsfeld fan club, although it figures that he’d invade countries over taxes instead of over something useful… like oil.

  3. So according to Murphy those territories/dependencies are all “bust” (Jersey at least still has accumulated savings, rather than government debt), but the UK government debt run up by Brown was perfectly OK and we neo-liberals make far too much fuss about it?

  4. And where does he get the idea that Brown should have intervened to reduce those territories’ dependence on financial services?

    Dependence on the financial services industry, and its tax revenues, was Brown’s strategy for the UK.

  5. That’s epic. I’m assuming that Murphy’s looking to invade Canada and Australia once he’s re-annexed the Bahamas – at least the gold, coal and timber would help the deficit…

  6. You would have thought that anyone posting in blogs, writing articles would have undertaken research before publishing. Failure to do so could render the writer as an ignorant twat. As far as I am aware neither Guernsey or Jersey (possibly Isle of Man???) have any government debt but do have substantial reserves. So the chances of them going bust are pretty slim at this point in time.

  7. I’ll cheerfully admit to having got the wrong end of the stick on various matters in the past, but it takes a special sort of person to be wrong on essentially every single thing he writes about, and not just wrong in a narrow, nitpicking sense but grossly and egregiously wrong. The man’s chutzpah is breathtaking. The crippling cognitive deficit the Dunning-Kruger effect imposes on the poor man is almost enough to warrant his being institutionalised.

  8. With the Isle of Man it’s the defecit that is a problem (i.e. Income in and Spending out do not balance). We have had to cut spending and use about 50M of the reserves in the last two years to balance things.

    We don’t have ‘debt’ in the UK sense (i.e. issuing masses of gilts to cover the difference between Income and Outgoings) as that isn’t really an option for the Isle of Man, however the liability of IoM Civil Servants pension funds is a problem – generally considered to be $1 billion pound, so still a lot smaller than the UK’s estimate of $4 trillion.

  9. The Isle of Man was once described as 70,000 drunkards clinging to a rock.

    After March 27th we expect that to change to 83,417 drunkards clinging to a rock – because we’re having a census.

    :O)

  10. Ritchie was in Jersey recently – as well noted in your columns. Pity he didn’t take the time to read up on the history of the |Islands before pontificating. The correct term for the Channel Islands is not dependencies but peculiars of the Crown. After all the Islands were part of the Dukedom of Normandy before William took over England. Technically you could say Gt Britain belongs to the Channel Islands – but do we want it? We used to own New Jersey too.

  11. No, the correct term for the Channel Islands (and the Isle of Man) *is* Crown Dependencies.

    The House of Commons’ Crown Dependencies Justice Committee sums it up well:

    The Bailiwicks of Jersey and Guernsey and the Isle of Man are Dependencies of the Crown, with Her Majesty The Queen as Sovereign. The Sovereign is represented in each jurisdiction by a Lieutenant Governor. Although they are proud of their British associations, the Crown Dependencies are not part of the United Kingdom and are autonomous and self-governing, with their own, independent legal, administrative and fiscal systems. The Island parliaments legislate for themselves. UK legislation and international treaties are only extended to them with their consent. It has been argued that Westminster retains a residual legislative power over the Islands in order to avoid “the impossible position of having responsibility without power”. We are not aware of any example in recent times of such a power being exercised. The Crown Dependencies are to be distinguished from the UK’s Overseas Territories, which have a different constitutional relationship with the UK.

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