International business has brought out its big guns in the battle to keep Bermuda off an international hitlist of dodgy offshore financial centres.

And firms with close links to the UK financial heartland of London have launched a plan to lobby British movers and shakers in a bid to underline the Island's special status as a reputable jurisdiction.

The industry is also set to hold a series of meetings to explain the implications of the crackdown to the Bermudian public.

One businessman said: "It's interesting that Island firms with UK connections have already organised lobbies at the highest level.

"International business has certainly mobilised to help the Government.'' The move came after a three-pronged attack on "harmful tax regimes'' was launched earlier this year.

The Paris-based Organisation for Economic Development and Cooperation is to draw up a hitlist of countries used as tax havens.

Bermuda is one of 30 countries, nation states as well as dependencies, which have been asked to supply further information to the OECD.

And the EU and the G8 group of world economic powers have launched similar probes into offshore money.

But business leaders said the OECD did not appear to know yet what pressures it could bring to bear on countries singled out for the hitlist.

The businessman said: "I don't think they know what they're going to do -- they haven't said and in any case there will be such a long phase in period.. .there wouldn't be sanctions per se.

"These are very complex issues -- there is taxation and all sorts of other skullduggery like money-laundering.

"I don't think they know what they're going to do or what their punishment might be. And if it ever got to that it would be way down the line.'' But he added: "It's serious -- but I think the feeling is to let Government get on with it.

"The international business sector is watching and waiting and business is assisting as requested.'' It is understood that -- unlike the UK review on its relations with its Overseas Territories -- Bermuda has rejected overtures from other UK colonies for a united front on the harmful tax issues in favour of solo fight.

Wednesday's panel included pro-Independence Mr. Commissiong and ex-PLP-turned Independent candidate Philip Perinchief, as well as international businessman Jan Spiering.

David Ezekiel, chairman of the International Business Division of the Chamber of Commerce, said: "I've spoken to Jan and he told me it all went very well.

"This could be very adverse and that's why everyone is working hard to put our point of view forward.

"We're working hard with Government...given the amount of effort being put into it, ending up on a list is something we don't want to happen.

"And it will need a collective effort to make sure we are seen as different from other jurisdictions.'' Both Switzerland and Luxembourg have broken ranks with their OECD partners and said they will not feel bound by any group recommendations.

Mr. Ezekiel said: "They are not united in what they want to do and there are other countries bigger than Bermuda who are taking exception to this.'' But Mr. Ezekiel dismissed a hardline stance from the OECD to countries it adds to its blacklist.

He said: "What they can do is put pressure on companies and organisations in their own domiciles who are thinking of doing something in somewhere like Bermuda.'' He added pressures "could often be quite subtle and not what you might expect them to do''.

But Mr. Ezekiel said: "Putting pressure on the parent company is not necessarily direct, but it is there.''