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PLP silent on tax threats

The blackout came after Premier Pamela Gordon and Finance Minister Grant Gibbons revealed that a multi-nation review aimed at compiling a hit-list of "harmful tax jurisdictions'' had already hit snags.

crackdown on so-called tax havens.

The blackout came after Premier Pamela Gordon and Finance Minister Grant Gibbons revealed that a multi-nation review aimed at compiling a hit-list of "harmful tax jurisdictions'' had already hit snags.

Shadow Finance Minister Eugene Cox, however, was staying tight-lipped over the on-going international probe.

He said: "I have nothing to say at this time.'' And Opposition leader Jennifer Smith -- who earlier this month admitted she did not have a clue about progress on talks with the UK on a new deal for the Overseas Territories -- was not available for comment yesterday.

Ms Gordon and Dr. Gibbons said on Tuesday that Bermuda's record for clean financial hands stood comparision with anywhere in the world.

The OECD drive -- together with similar probes by the EU and the G8 group of the world's major economic powers -- are potentially the biggest threat to Bermuda's prosperity in decades.

Dr. Gibbons yesterday declined to speculate on the reasons behind the PLP's stance.

Bermuda came under the spotlight on tax and finance shortly after UK Foreign Secretary Robin Cook announced in February that he was set to rewrite relations between the UK and what was then known as the Dependent Territories.

Mr. Cook -- aware of resentment over the lack of rights of access and to work in the UK among the fewer-than-200,000 people in the Territories -- pledged that the issue would be high on his list and held out the prospect of full UK passports for all.

Only weeks later, it emerged that an international drive to clamp down on dodgy offshore jurisdictions was also underway -- although the UK Government insisted the two initiatives were unrelated.

Bermuda has already submitted the asked-for report to the OECD in a bid to avoid being placed on a hit-list as a "harmful tax regime''.

It is understood around 30 countries around the world -- both nation states and colonial possessions -- have been asked to justify themselves to the international watchdog, although the OECD have not released a list of countries under the microscope.