Kevin Jenkins, Newport:

The IW could prosper mightily if it were to become a Crown Dependency.

Rather like the Isle of Man we could bring many financial services firms to the IW and a number of IW trust companies could be established, plus other financial services, firms due to the fact that incoming investment placements would be on a tax free basis.

Income tax could be pegged at 20 per cent with no higher rate.

Permanent residents would have nil inheritance tax to pay on any IW held assets hence a number of high net worth individuals would move their assets to the IW.

Cutting edge AI and IT businesses would be exempt from any form of corporation tax, creating an inflow of capital to the IW.

If Shetland ends up having Westminster approval for their own aims in this regard then the IW should make a similar move.

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