US tax policy will be increasingly under the spotlight in the coming months and Bermuda should be prepared for that, according to former US Congressman Harold Ford, Jr.

Speaking at the Bermuda International Business Association's annual general meeting yesterday at the Fairmont Hamilton Princess Hotel, Mr. Ford said he had a favourable perception of the Island, which he would convey to fellow Americans.

"I understand and realise the role that this business community plays in helping to create jobs in the US and around the world," Mr. Ford told an audience of 270 people, including Premier Ewart Brown, Deputy Premier and Finance Minister Paula Cox and numerous business leaders.

"I don't need to tell you about the perception that some people have of you in the US.

"Over the next six months to a year, as we in the US try to understand a challenging global economy and our role in it, as we make great sacrifices to sustain our way of living, our friends - inlcuding our friends in Bermuda - will have to understand that the conversation around taxes will only intensify." With some taxes set to rise in the US by year end and a healthcare bill now going through Congress that could result in a need for more revenue, low-tax jurisdictions would stay in focus.

Mr. Ford served the state of Tennessee in the US Congress for 10 years and is now chairman of the Democratic Leadership Council, as well as a news analyst for NBC and MSNBC.

On Tuesday he announced his decision not to contest a New York Senate seat.

BIBA, which was celebrating its 40th anniversary, has been renamed Business Bermuda and promotes the Island as a jurisdiction for international business around the world.

The organisation's CEO, Cheryl Packwood, said: "Mr. Ford is a dynamic speaker and delivered a strong message about the current political dynamics in the United States and the challenges and opportunities facing the broader international business community.

"We were pleased and honoured to have him in Bermuda and appreciated his sincerity and candour during his visit. He told us that in response to the current issues we need to dialogue with US Government officials and ensure that decision makers were fully informed."