Cayman had a presence at the UK Conservatives convention this week, selling our local tourism options.
But what was meant to be a political engagement effort on the part of Cayman’s UK office quickly turned to full defense mode for UK representative Eric Bush.
This as one UK media house turned the heat up taking aim at Cayman’s negative reputation as a tax avoidance destination.
A Sky News live reporter posed the question “The view is, the perception is reality is, it’s (Cayman) where rich people hide their money.”
Mr. Bush promptly answered, “Perception is reality? Or perception is perception? Ok. So the Cayman Islands is an international financial centre. It does not have direct taxation. It has never had direct taxation and because of that it is attractive for people who want to bring money to the Cayman Islands, who have paid their taxes and then divest their money elsewhere,” said Mr. Bush.
He said Cayman will also be attending the Labour party convention next year.