Tax cap for wealthy will stay

Treasury Minister Allan Bell says he won't make changes to the Island's tax cap for its wealthiest residents.

In the House of Keys today, he faced intense questioning from Michael MHK David Cannan about the £100,000 income tax cap.

Mr Cannan said it would be unfair to keep the cap as the Island was facing financial uncertainties following the United Kingdom's VAT announcement.

But Mr Bell said the scheme brought enormous benefits to the Island: