Top UK Ministers and Civil Servants are set to meet Pamela Gordon and the political heads of the other overseas territories in London next month.

And it is believed alarm bells have started ringing all over the Caribbean and the other British possessions over UK suggestions that "unfair'' tax advantages in the territories compared to Britain and the European Union countries should be looked at.

UK Parliamentary insiders said yesterday more details of Britain's proposals appear to have emerged -- and contain worrying news for Bermuda's booming offshore financial industry.

Now Ms Gordon could be in line to lead delegates from the remaining colonies in expressing fears over potential damage to their economies caused by Britain's decision to rewrite the rule book governing its Territories.

It is understood the Premier will attend meetings with the other political chiefs to thrash out a common approach before meeting Foreign Office Minister of State Baroness Symons and her team.

Ms Gordon said earlier this week: "We're trying to pull together a meeting of all the Overseas Territories to determine what our next step will be.'' It is understood the phone lines between Gibraltar, Anguilla, Montserrat and the British Virgin Islands and Bermuda have been ringing red-hot all week amid Chief Ministers' fears over UK plans for tougher financial regulation in return for full British passports.

The new information comes in advance of a White Paper on the Overseas Territories' future relations with Britain, which is due to be tabled at the start of the next session of the House of Commons in November.

It had been hoped to table the White Paper before the end of the summer session -- but the draft document had not been finalised before the House of Commons rose at the start of August.

Neither Ms Gordon or Finance Minister Grant Gibbons could be contacted for comment yesterday.

But -- at a major conference called by UK Foreign Secretary Robin Cook in the Bahamas earlier this year -- both warned that the Island's economy could be under threat.

Ms Gordon vowed to fight what appeared to be a worldwide trend "to shift the offshore sector back onshore''.

And Island business figures said after a briefing by the Premier following the Nassau summit that UK interference in Bermuda could "severely damage'' offshore jurisdictions, including Bermuda.

Premier Pamela Gordon Graphic file name: PAMIT