Telegraph article urges Westminster to look to Isle of Man for inspiration

Westminster needs to look to the Isle of Man for inspiration on how to sort out their current economic difficulties.

That's according to a feature article in The Telegraph Newspaper last week.

The article opens by raising the question, could our tiny Island save the British economy, and the Conservative Party.

The author states the British economy is staggering under an ever-rising tax burden with growing inflation, debt and interest payments, highlighting that they're in dire economic territory.

It makes reference to the Island's three rates of corporation tax, and the fact there's no stamp duty, no inheritance tax and no capital gains tax, aswell as tax relief for mortgage interest too.

The writer says this regime is geared toward attracting jobs and investment, with higher wages, higher investment and more profit flowing into the economy.

He concludes by saying a Conservative Party desperate to revitalise Britain's economy and its own electoral prospects, could do a lot worse than learn from its example.