Premier seeks ‘respect’ at London summit

Seeking respect for the Virgin Islands is at the top of the government’s agenda at a key summit in London this week as several United Kingdom parliamentarians push for the overseas territories to increase corporate transparency, according to Premier Natalio “Sowande” Wheatley.

The annual Joint Ministerial Council, which brings together the British government and OT leaders, must “value” Caribbean democratic rights, the premier said.

“At the JMC, the UK overseas territories will emphasise the need for a relationship with the UK based on mutual respect and collaboration where our democratic rights are valued and respected,” he told the Beacon, adding, “Among other key objectives, we will assert the need for support to build climate resilience and continue the strong partnership with the UK in the fight against illicit finance.”

Labour government

The JMC meeting is the first to be held under a Labour government since Prime Minister Sir Keir Starmer swept to a commanding election victory in July after 14 years of Conservative rule.

The event has attracted an unusual amount of attention in the British media as some UK politicians use it to push for more corporate transparency in the VI and other OTs that operate as offshore finance centres.

The Financial Times reported this week that 40 members of parliament from across the political spectrum had written to UK Foreign Secretary David Lammy urging him to push for the speedier establishment of fully public registers of beneficial ownership in the OTs and crown dependencies.

Among those signing the letter was Tory former deputy foreign minister Andrew Mitchell.

Also weighing in was veteran Labour figure Dame Margaret Hodge, a long-time critic of offshore financial centres who was elevated to the House of Lords after standing down at the general election in July.

“We know all too well that the overseas territories and crown dependencies play a pivotal role in helping crooks and tax dodgers launder and hide their dirty money,” Mr. Mitchell and Dame Margaret stated in a joint letter to The Guardian newspaper over the weekend.

The pair also warned against further delay.

“We must stop the dither and delay of recent years and pierce the veil of anonymity that protects criminals and kleptocrats,” they stated.

The Times of London, however, quoted unnamed sources saying that the Labour government will not force overseas territories to implement fully public company registers.

Like other VI officials, the premier has disputed criticisms of the VI financial industry and said that the territory’s current company register will be expanded by the end of June 2025. However, he told the House of Assembly in July that access would not be “uninhibited” and would be limited to people with a “legitimate interest.”

Doughty visit

Also ahead of the meeting in London this week, UK OT Minister Stephen Doughty said climate change, good governance and transparency would feature in the talks.

“The overseas territories are an invaluable part of the British family, and we are focused on delivering on the issues that matter to them, including prosperity, climate change, infrastructure and security,” he said in a statement.

Mr. Doughty, however, has been relatively tight-lipped on the UK’s plans regarding the VI.

After a three-day visit to the territory this month — during which he refused to speak to the media — Mr. Doughty posted a short message on social media stating that the UK is not yet prepared to lift an order in council that allows London to temporarily impose direct rule here if the VI government doesn’t complete the reforms recommended in the 2022 Commission of Inquiry report.

The news was a blow to Mr. Wheatley, who has pushed for the order in council to be lifted, arguing that his government has completed its end of the COI reforms.

But Mr. Doughty stated that the order will remain in place until a review by Governor Daniel Pruce, a self-assessment by the VI government, and a fact-finding visit to the territory by officials from the Foreign, Commonwealth and Development Office.

“I am going to discuss the conclusions with the foreign secretary and with the government here in the BVI and the governor and agree the next steps, including around the order in council,” Mr. Doughty said in the recorded statement, adding, “And I hope that this will be happening in the first part of next year.”

Mr. Wheatley has repeatedly branded the order in council as “colonial and coercive” as well as “undemocratic.”