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JMC discussed hurricane impact

Tortola, in the British Virgin Islands, was devastated by Hurricane Irma (File photograph)

Tax transparency, hurricane relief and Brexit were all discussed by the Overseas Territories Joint Ministerial Council, according to the body’s official release.

The JMC met this week in London to talk about a range of topics that affect the British Overseas Territories, including Bermuda.

A key element of discussion during this year’s meeting, at which David Burt, the Premier, represented Bermuda, was the impacts of Hurricanes Irma and Maria on the Caribbeans.

According to the JMC release, the UK committed to helping the affected islands with their recovery and to “increase their future economic resilience”.

Along with a further £15m of British support for early recovery after the storms, the JMC said a further £70 million in grants and up to £300 million in loan guarantees would be offered by the UK to support long-term reconstruction in the territories worst affected.

The impact of the storms also brought the issue of climate change to the surface, with the UK reiterating its commitment to work with the Territories on the application of climate change treaties.

The JMC said members have made progress in implementing policies set out for the exchange of beneficial ownership information.

“We committed, where not already achieved, to expedite work to ensure that the new systems were fully operational and populated,” the JMC said.

“We also committed to review the effectiveness of the new arrangements six months from the implementation deadline, to ensure we meet our agreed objectives.”

Discussion about the affect of Brexit on the OTs meanwhile continued, according to the release.

“A clear objective of the negotiations is to achieve a deal that works for all parts of the UK family,” the JMC said.

“We will seek to ensure the security and economic sustainability of the OTs is preserved and, where possible, strengthened post Brexit.

“The UK will also take all steps to ensure continuity and legal certainty in arrangements between the UK and the OTs.”

The statement also said that some territories were facing rising levels of gang related crime, with the JMC reaffirming its need to address such threats.