An advocate for Jersey’s financial services sector has defended the jurisdiction, after the new owners of Asda were criticised for setting up an offshore bid company there.

Mohsin and Zuber Issa, who were made CBEs in the Queen’s Birthday Honours list and have been praised by Chancellor Rishi Sunak, have attracted negative media attention for transferring the holding company of the British supermarket chain to “controversial tax haven” Jersey.

This is Money, the Daily Mail’s personal finance website, said Jersey had been accused of being “up there with the worst” of the world's tax havens.

Earlie...