Chief minister wary of G5 moves

The government says it fears Manx tax rates could be the next target for global regulators.

The transparency of offshore jurisdictions has been increasingly in the spotlight, ever since the Panama Papers started being made public.

The Island has now agreed to the automatic exhange of information with the G5 countries - the UK, France, Germany, Italy and Spain - although this is unlikely to come in for several years.

However, Chief Minister Allan Bell says another big threat could be round the corner: