falling apart, it has been claimed.

The Organisation for Economic Cooperation and Development (OECD) has put back plans to publish a list naming dodgy jurisdictions for more than a year.

A letter sent to countries with "harmful tax regimes'' under investigation by the OECD -- including Bermuda -- announced the back-off from June this year to July, 2001.

The letter said: "The June listing will not be used as the basis for implementing the co-ordination of defensive measures.'' Now the 29-member Paris-based group will use its June meeting to start compiling a new "List of Unco-operative Tax Havens'' which will be published next summer.

The letter added: "The OECD would implement the co-ordination of defensive measures only against jurisdictions on the List of Unco-operative Tax Havens and only after its publication in July, 2001.'' Finance Minister Eugene Cox said: "I don't know the thinking behind this but all of us, I'm sure, having made submissions and having addressed the questions, would like to think there is going to be a final act on this.'' Shadow Finance Minister Grant Gibbons is off the Island but Opposition Legislative Affairs spokesman John Barritt said: "At first blush, it's good news that the OECD is not rushing and that we're not being rushed into anything.

"I notice the introduction of the term `unco-operative tax havens'. I don't think Bermuda could ever have been described as unco-operative.'' He added: "So much of this is trying to ascertain what the words mean and how this applies to us. That's something we're only going to learn in time and hope the Bermuda Government is pressing things on our behalf.'' Jersey -- a British Crown Dependency with a massive offshore industry -- sounded a warning note.

Jersey's chief executive of Policy and Resources John Mills ruled out his island making the commitments demanded.

He said: "What they want is a commitment to do things which would destroy our competitive advantage.'' And he questioned the reasoning behind his island being represented at the OECD tax forum by officials from the UK tax authority, the Inland Revenue.

Meanwhile Mr. Cox said: "We want to work with the OECD and we want to be in a position where we share information but we think at no time is it in any country's interests to give any country a blank cheque.

OECD delays compiling hitlist of tax havens "We want clearly identified what is being sought and where that's beneficial we have unhesitatingly made ourselves available.

"But we certainly don't, as Jersey has said, want to give a blank cheque to any authority to pick away and do things which adversely impacts on our economy.'' Mr. Barritt said: "If we're going to level the playing field, let's level it in backyards as well as here. It's good to see someone standing up and it appears to have had some effect.'' He called on Government to make sure the public was more aware of what was going on in a bid to end worries over the financial future of Bermuda.

Mr. Barritt said: "Mr. Cox said in February that there had been a recent communication which sounded promising but we haven't heard anything since.

"It has to be done with some skill, obviously, but I do think it would be nice to know what progress he thinks we've made.'' The news came in a major article on the OECD crackdown in the Times of London which is regarded as having good sources in UK big business and government.

The article said the drive to hammer tax havens, spearheaded by UK Chancellor of the Exchequer Gordon Brown, was "forced into retreat after running into stiff resistance'' from British Overseas Territories.

Bermuda has already passed or amended laws -- including the Proceeds of Crime Act which aim to crack down on white collar crime and money-laundering -- that are designed to keep the Island in line with international requirements.

And, just after the Budget in February, Finance Minister Eugene Cox said he had received "good news'' about the OECD probe but refused to comment further.

The Island has also tightened the terms of the US/Bermuda tax treaty to take account of American concerns on the wording.

A payroll tax break for international companies, which allowed them to pay the tax on a flat rate assumed for all employees, was also axed.