that could be contained in the White Paper.

Dr. Gibbons said remarks about tax havens, harmful tax regimes, financial gateways and transparency were all contained in the document, but he said more details were required.

And he added that as the policy paper applied to all 13 overseas territories, some of the sections did not fit Bermuda, with its tough legislation and control over finance.

But the Shadow Minister said he was concerned over the phrasing of tax evasion and tax avoidance together.

Tax avoidance, he said was a right which allowed people to reduce their tax bill by legal and honest means, as opposed to evasion which was outside the law.

"When you see them in the same sentence, that gives us alot of concern,'' he said.

"We must be proactive and make sure people clearly understand what our systems are, and how we have been responsible citizens in the financial community.

"They want to make sure overseas territories flourish but on their terms.'' He said Bermuda must ensure that the UK and the OECD were clear that the Island had in place supervision, and had done for some time, and was a responsible financial base.

Proposals about financial gateways and transparency could bring difficulties if Bermuda was forced to disclose information about companies and their tax situation, he warned.

And it was clear that the UK wanted to play a leading role in the world's business, and that it did not want to be embarrassed by the activities of one of its territories.

"They don't want to be exposed to criticism from problems that occur in its backyard,'' Dr. Gibbons said. "They do not want Bermuda putting at risk global financial systems. They do not want a weak link.'' Cross border holding tax, where countries may have to disclose accounts held by nationals of another country or apply a tax, was another concern that could add to the cost of doing business and could detract from the attractiveness of investing in Bermuda, he said.

And if the policy was taken on board, it could also mean that the Bermuda Monetary Authority would have to be more independent and accountable.

Environment Minister Arthur Hodgson (PLP) stressed the importance of getting the people of Bermuda behind the idea of sustainable development.

The Minister said there was no point in the Government stating a position on the environmental aspect of the White Paper, unless the people were behind it.

He said future development had to be for the benefit of the people of Bermuda.

And he cited the past, when the UK had allowed the US to establish bases in Bermuda, without asking the country what it thought.