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We need to be concerned about the London meeting

June 11, 2013

Dear Sir,

Regarding the ‘invitation’/summons of the Overseas Territories, in reference to the so-called tax havens, by the British Prime Minister, Mr Cameron, we as Bermudians need to be very concerned.

The implication made by his statement, that he’s inferring that he regards Bermuda as a tax haven, should have many ‘Onions’ raising their eyebrows.

Consideration of the fact that Bermuda has had its own Constitution since 1968, outlining self-governance of our financial and economic affairs, apparently has had no bearing on his decision to request our presence to the ‘summit’.

Are we truly a dependent territory’? Or, is it a case of Britain being dependent upon us?

Allowance of the ‘powers-that-be’ to flex their muscle, to suit their personal political ambitions, should not over-ride our well-established Constitution!

Serious discernment needs to be applied going forward. If we are to be coerced into conforming to the perceived perspective of the ‘Mother Country’, then perhaps we will eventually, truly be a dependent territory once we succumb to their wishes, and heavily rely upon their assistance after our bread and butter economy is destabilised.

Personally, I see it as envy, and/or jealously. We have been dubbed the ‘Reinsurance Capital of the World’. Many a country would relish the idea of being in our position, in this modern-day capitalistic society. Don’t punish Bermuda for having the intellectual capital, to gain an advantage in a free society.

We have signed many a tax treaty with various countries, testifying our transparency; a consequence of the EU/Big 8 economies, request to do so, subsequent to their ‘muscle’ being exercised.

I trust the current Bermuda administration, will have ‘all-their ducks-in-a-row’, when addressing the concerns of Bermuda in general. Further, I think it’ll be well served to have members of both sides of the House attend this very important meeting, which ultimately will determine the future of Bermuda’s vital financial services economy.

GLENN CHASE

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Published June 12, 2013 at 9:00 am (Updated June 11, 2013 at 6:56 pm)

We need to be concerned about the London meeting

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