Ex-UBP Premier Sir John Swan
Ex-UBP Premier Sir John Swan

Former Premiers yesterday backed Premier Craig Cannonier’s refusal to meet a UK-imposed deadline to sign up to a new tax treaty until the country’s concerns over details had been addressed.

Alex Scott, who led the PLP from 2003 to 2006, and ex-UBP Premier Sir John Swan, who led the country for 13 years, united to back Bermuda’s refusal to toe the line until its worries had been dealt with appropriately.

Mr Scott said: “British Prime Minister David Cameron is finding himself in a difficult position and trying to coopt others to find a remedy for his dilemma.” 

He added: “I have to say I agree with the Premier’s stance and his overall approach.”

Mr Scott said: “At first blush, I was intrigued that most of what the Premier said, I agreed with and probably had said a variation on this theme when I went to the Risk Management Society (RIMS) conferences all over the US.”

And he pointed out: “The bottom line is as obvious as the nose on your face, but not something that is said often — Bermuda has not changed its tax laws for 100 years.

“That means we have not tailor-made our tax structures to attract or entice those outside of Bermuda to come here and trade with us.