A bid to ensure that Bermuda does not end up on an international blacklist of dodgy financial jurisdictions will be launched in London on Monday.

Premier Pamela Gordon and Finance Minister Grant Gibbons are set to meet with top officials from the UK Foreign Office and Treasury amid uncertainty over a double crackdown on "harmful tax competition.'' The drive -- led by the European Union and the international watchdog body the Organisation of Economic Cooperation and Development -- aims to clip the wings of offshore jurisdictions who use their independent position to set up low tax policies which attract companies from onshore jurisdictions.

Bermuda will be joined at the talks by representatives from the other affected Overseas Territories, including the Cayman Islands, the British Virgin Islands, Gibraltar and Anguilla.

The OECD will convene a special forum in the autumn and the results of their deliberations are set to be released early next year.

But Dr. Gibbons said: "We are still at a point where we are trying to get a clear understanding of what all the criteria will be and we will respond to that.

"This meeting will give us a clearer perspective of the British Government's position and how they see the OECD initiative and the EU initiative as well.'' Dr. Gibbons added: "My sense is that we have certainly got a very good case to keep us off the harmful tax list.

"People are beginning to realise that jurisdictions operate in many different ways and Bermuda works very well -- our tax system is a comsumption tax system which is designed to tax both individuals and international companies in the same basic manner.

"There are many reasons why we don't belong on a harmful tax list.'' Dr. Gibbons said he did not know what sanctions would be levied on blacklisted countries -- but he agreed it would be bad news for any jurisdiction placed on the list.

But he said: "It's important to stress that just because we are being asked for information, that does not involve any value judgement at all.'' He added, however: "We are treating this as a serious issue but there are many things which need to be clarified and the meeting on Monday will help us to do that.'' The Royal Gazette revealed last month that onshore countries were starting to scrutinise the books of offshore jurisdictions as international trade barriers -- especially in Europe -- were beginning to come down.

The electronic revolution, which means millions of dollars can be shifted around the world at the touch of a button, is also thought to have played a part in the decision to get tough.

TAXES TAX