No mention of offshores in UK spending review

PWC tax partner assesses review impact

Yesterday's spending review by the UK chancellor was more notable for what wasn't in it than what was, from the Isle of Man's standpoint.

That's the opinion of a tax partner at PWC on the Island.

George Osborne's statement majored on domestic issues and contained an apparent U-turn on cuts to tax credits.

Kevin Cowley says in his view, the most positive aspect was the fact that the offshore sector wasn't in the headlines: