Premier Ewart Brown has welcomed praise from a top British Government official over the way Bermuda handles financial procedures.

According to a statement issued by press secretary Glenn Jones, Financial Secretary of HM Treasury Stephen Timms praised the Government of Bermuda for its commitment to the standards of the Organisation for Economic Co-operation and Development (OECD).

These are concerned with issues like tax information exchange and anti-money laundering.

Mr. Timms' comments came during an Overseas Territories Consultative Council (OTCC) meeting in London yesterday.

After his presentation to leaders of the Overseas Territories, Mr. Timms said: "If on tax information exchange everyone had made as much progress as Bermuda the world would be better off."

Dr. Brown's response yesterday evening was: "The U.K. Financial Secretary's comments are a strong endorsement of the work we're doing as a Government, and the stewardship of the Finance Minister who has dedicated a lot of her focus to this issue.

"Now more than ever it is important for the country to know its economy is directed by strong and steady hands."

Bermuda meets the OECD's official commitment to transparency requirements for financial and accounting information.

Minister of Finance and Deputy Premier Paula Cox said: "We're not stopping here. The relevant personnel recently returned from Europe where more critical negotiations are underway that will further enhance Bermuda's reputation in the finance arena. The Bermuda brand continues to have cachet."

Governor Sir Richard Gozney also participated in yesterday's sessions of the OTCC.