Independence but wants a referendum on the issue to proceed.

Chamber president Mr. Robert Rego made the comments yesterday in a news release. While the Chamber was still working on its "formal response'' to the discussion paper on Independence, called a Green Paper, the document "does not provide a fair and objective basis for debate and certainly does not adequately address the economic and social implications of Independence'', Mr.

Rego said.

Despite that, the Chamber supported Government's plan to have a referendum on Independence this summer, he said. "Uncertainty arising from the debate on Independence is having a negative impact on business confidence and business growth,'' Mr. Rego said. "Feedback from the business community indicates that the international community is reserving decisions to invest their business in Bermuda and some have already chosen other competitive jurisdictions.

"The longer Bermuda continues to have no definite plans as to its future constitutional status, the greater the risk to our competitive position.'' The Chamber was surveying its members on the issue, he said.