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It might work on a small island
We're a pretty small island ;)
But you're right, for small countries it offers an economy (and a better one than fighting over producing the cheapest food products or drug trafficking).
The reality is the UK is already one of the best countries for tax avoidance. We have the structures in place, the skills, the relationships. Therefore, this is a fairly natural progression.
Just thinking out loud here... when you look at the potential of AI to totally lay waste to financial services back office, would this not be an area for that sector to transition to?
hugo7
Something like that. It might work on a small island, not convinced it'll work on a large one.