The Isle of Man Government says it's welcoming a letter from the United Kingdom prime minister, following the Island's recent inclusion on the OECD white list.

Trade and Industry Minister David Cretney, responding on behalf of government, says Gordon Brown acknowledges the Island has taken a leading role in complying with international standards on taxation.

Mr Cretney says the emphasis on the importance of international tax standards is in line with the Manx government's policy over the past decade, and continuing compliance with global standards of tax transparency and financial regulation will continue to be of fundamental importance to the Island.

However, the same letter has been described by media in Jersey as "strongly worded .... indicating the Crown dependencies' inclusion on the white list doesn't mean they are out of the woods".

Beth Espey reports (text, below, from attached audio file):

In the letter the prime minister says recent developments have underlined the importance of embracing international standards on tax transparency, and that he fully supports those initiatives.

He says it's strongly in the interests of all jurisdictions, including the Crown dependencies, to meet those international standards.

Gordon Brown goes on to say that the dependencies need to set the pace and put clear water between themselves and those places which only just meet the international standards.

If genuine progress isn't made, he warns he will encourage the G20 to look at this issue again until all abide by the highest standards. He says the dependencies must readily meet any new international standards that emerge.

He concludes by saying the Foot Review and the Ministry of Justice will be able to provide support on these matters in the coming months.