The Government has said that the GSD’s statement on Gibraltar’s “most important membership” of the OECD BEPS Framework is yet another demonstration of their “blind failure” to accept further progress for Gibraltar’s financial services sector arising directly from the Tax Treaty with Spain.

A statement continued: “HM Government of Gibraltar has never suggested that our inclusion in the OECD framework arises from Spain having dropped its claim to Gibraltar as Azopardi states. This is immature and delusional.

“As a direct result of the Tax Treaty with Spain, and Spain’s recognition of the work this Government has done in the areas of compliance with International Standards, Spain has withdrawn its previous objection to our participation - even though we have been complying with these standards through EU Directives having properly been transposed here.

“It really is time Azopardi and the GSD stopped trying to undermine the Jurisdiction and its excellent private sector for its own selfish political ambitions and started supporting Government as we seek to reposition ourselves with the Brexit challenges we face in the coming months.”