‘It’s unrecognisable’: How being a tax haven has changed Jersey
Jersey has become a global hub for offshore finance, significantly boosting its GDP through low taxes and corporate services. However, this shift has led to local inequality and criticism regarding the island's role as a tax haven.
Why it matters
Illustrates the socio-economic trade-offs faced by small jurisdictions that rely on global finance industries.
Joe Moynihan, the chief executive of Jersey Finance, says the island has a good reputation for regulation. Joe Moynihan, the chief executive of Jersey Finance, says the island has a good reputation for regulation. Jersey ‘It’s unrecognisable’: How being a tax haven has changed Jersey While global billionaires and multinational companies have been lured to its shores, many islanders feel left behind and priced out, with food bank use increasing
Kalyeena Makortoff in Jersey Mon 21 Sep 2026 00.00 EDT Last modified on Mon 21 Sep 2026 00.01 EDT Share Prefer the Guardian on Google On a late Friday afternoon on the Channel Island of Jersey , tourists and locals are flocking to St Helier’s waterfront where the town’s sprawling beach has emerged at low tide.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in