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Financial manoeuvres slip under the radar

Shaky time: Prime Minister Theresa May is on unstable ground (Photograph by Parliamentary Recording Unit/AP)

Dear Sir,

Political events in Britain are moving at a very frenzied pace. And Brexit still means Brexit, according to the Prime Minster, Theresa May. But Brussels has decided to prepare for a “no deal” Brexit — just in case.

Yet as events of Parliament go — Westminster Palace — May is on very unstable political ground, as seen last Tuesday when a very critical vote on Brexit barely escaped being passed into law by 307-301 votes.

Now that it is openly debated, will May remain PM through to the autumn? Or beyond the last day of December 2018? Maybe.

She was at least still able to command her Conservative loyalists until Donald Trump came to town and threw a political grenade into the restrained parliamentary chaos when giving an interview, which the media had the good sense to not only tape but to videotape. In his exclusive interview, Trump proclaimed that it would be highly unlikely that Britain would get a trade deal with the United States if they remain in the European Union’s customs union.

After that interview, the genteel factions were in open political warfare, split on various scenarios of a Brexit deal with Brussels.

All Jeremy Corbyn, the Labour leader, Sir Vince Cable, of the Liberal Democrats, and a scatter of smaller political parties had to do was to sit back, sip on their iced teas and watch the fireworks — Conservative infighting.

May’s Cabinet, in expectation of what was coming, attempted to grant Parliament an early recess, but they were soundly defeated there, as they used “pairing” to squeeze through the final vote so that the Prime Minister could head off to Brussels.

“Pairing” has caused a huge political storm from the entire House of Commons. Pairing is a longstanding convention that results in opposing MPs pairing up to miss votes.

In the meantime, silently under the radar of Brexit, an official announcement was made that seven members were replaced on a corporate board that, with its pivotal operations in Bermuda, nets hundreds of millions in profit each year.

The change by this board is a result of “forensic journalism” in London that laid bare how the corporation was able to make hundreds of millions in profits each year. And that exposé has resulted in key government changes from Westminster.

With changes on the board, there are bound to be changes in the culture and direction that the corporation will take in the future. So, logically, will those changes affect their operations in Bermuda? Will they limit their presence in Bermuda or put out altogether?

Time will tell.

Now how does the former chain of events relate to the latter chain of events? Well, actually they don’t, except that the former is so all-consuming in Britain that the latter was barely noticed, and the latter’s influence on Bermuda is yet unknown.

VALIRIE MARCIA AKINSTALL

London, England