Opposition Member Hon. Julian Fraser has expressed grave concerns for local companies.
He believes that the rigid financial bills being brought to the House of Assembly will affect locals businesses even though it targets offshore firms.
Hon. Fraser asked Premier and Minister of Finance Hon. Dr. Orlando Smith to state when legislation will be brought to this Honourable House aimed at liberating Local Companies, especially small Local Companies, from the raft of onerous Regulations aimed at non-resident offshore companies, and the investment of offshore funds, whose sole purpose for being here are the benefits derived from the Territory being an Offshore Financial Center.
Premier Smith in response said government has plans to protect local companies.
"I have consistently shown my commitment to supporting local businesses and their growth," he said.
Premier Smith added, "This Government will continue to review how it might further help to grow this sector including reviewing legislation which could detract from this."
- Source: BVIHotpress.com