Traditions, customs and laws that have served Bermuda well during all its history as a British dependency will be preserved even if the Island takes the road of Independence.

Within hours of a warning from the international business community that the Island faces an uncertain future if it opts for Independence from the UK a robust reply has been made by the governing Progressive Labour Party.

And it claims a central pillar of any move to self-determination for the Island would be to maintain the things that have made Bermuda a success, be they laws, customs or traditions.

The Privy Council, made of British Law Lords, will remain an Independent Bermuda?s ultimate final court of appeal.

Fears that the Island might cast itself completely adrift from the UK and its legal system, which currently makes Bermuda a ?preferred jurisdiction? for many global businesses, are unfounded if the PLP?s version of Independence becomes a reality, according to Senator Walter Roban.

The Junior Minister, whose portfolio extends to education, development and tourism, responded directly to specific concerns restated this week by the Association of Bermuda International Companies and the Association of Bermuda Insurers and Reinsurers.

Sen. Roban said: ?There will be no blending, melting or mixing with other jurisdictions.

?The current system of jurisprudence based on English common law will be preserved.

?We are interested in keeping all of the things that have served the country well and served our partners well. We wish to enhance those things ? people can be assured of that.?

And he pointed to the PLP?s submission to the Bermuda Independence Commission (BIC) which states that the Privy Council, will remain an Independent Bermuda?s ultimate court of final appeal and would be specially entrenched. The only way that arrangement could be altered would be by a special vote of the House of Assembly and the Senate.

Independence in and of itself will not result in the Bermuda dollar being devalued nor lead to international businesses packing their bags and leaving, said Sen. Roban.

He delivered the PLP?s response as it digested the latest concerns, reported in yesterday, from two of the most Island?s most prominent international business organisations.

And he urged those within the international business community worried about the likely impact of Independence on the Island to come and speak directly to the PLP to hear its reassurances.

In what was generally an exercise in publicly praising the work of the BIC on its recent report on Independence, a PLP Press conference yesterday was inevitably diverted to the concerns reiterated by the two international business bodies.

Sen. Roban said the BIC report had ?solidly dissected and diffused many myths? including many of the most raised by the two organisations.

?Independence will not in and of itself result in the devaluation of Bermuda?s currency as long as the mechanisms that are currently employed to maintain its valuation remain in place,? he said.

And he remained unequivocal as he went on: ?Independence will not result in the flight of international business or lead to economic instability and decline.

?As long as Bermuda continues to offer a business friendly regulatory model, a benign tax regime and political and social stability, Independence in and of itself should not have a negative impact.

?The costs of Independence will not be outside the affordability of Bermuda.?

He stressed his party?s desire to hold face-to-face talks with any individual, group or business that has genuine concerns about the impact of Independence on the Island and its prosperity.

?We welcome the opportunity to discuss the findings of the BIC report and our submission with anyone in the community who wishes to have a constructive dialogue on this very important issue.

?We are open to meetings with all organisations and stakeholders.?

Sen. Neville Tyrrell said that, while the PLP has retained a clear position on self determination for many years, it is ?more than willing to talk about this issue, listen to our fellow citizens inside and outside the party and join in on the discussion on such an important subject as this.?

He encouraged all Bermudians to read the BIC report, seek information, talk honestly about it and become part of the ongoing process.