yesterday, as the Chamber of Commerce voiced fears about Independence and urged Government to consider more pressing issues.

Chamber president Mr. Robert (Bobby) Rego, disclosed that 95 percent of Chamber members responding to a recent survey saw little or no economic benefit to Independence for Bermuda and have grave concerns about the increased costs to the Island.

Mr. Rego, in an address at the Chamber's Annual General Meeting, warned that the challenges ahead for the Island were great and competition was getting better and stronger. Domestic cooperation, he said, was the key.

"To overcome these challenges, we need cooperation and coordination, yet we are in conflict,'' he said. "In times of globalisation we need strong international links, yet we talk of Independence.

"In the face of increasing worldwide competition, businesses need to contain costs, yet they continue to be burdened by high taxation. Now is the time to expand our horizons and look for new business opportunities, yet we are restricted by burdensome taxation on international and professional business.'' The Chamber is pushing to have the Commission on Competitiveness report given back its "top billing'' status on the "national agenda''.

Mr. Rego also called for a number of regulatory changes that included less burdensome taxes, a reduction in Customs duties and a relaxation of Sunday trading restrictions.

Mr. Rego said the Chamber's survey results indicated strongly that the uncertainty associated with Independence was damaging business.