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    Oh Dear this is another clanger from Francis Maude. A tax haven is a place where the rich hide their money in an effort to pay no taxes on it whatsoever.. no matter where it was made/earnt. You can park your mega yacht amongst the other mega yachts but do you build a factory offering jobs..how many factories in the Channel islands, in the Cayman Islands..??

    Or even in Monaco. I spent some time in Monte Carlo, and very nice too. But people just hide their massive wealth there and enjoy it. They dont do anything with it..other than flounce around in some considerable style.

    We will have to see if the reduction in the 50p tax rate brings more jobs here...it really is a tenous link..saying that one equates to the other, but we will have to wait and see.

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