Bermuda’s New Chamber president believes 60/40 rule needs to be examined

The British Dependency’s Chamber of Commerce has a new captain at the helm – the owner of the award-winning stationery and gift store “Pulp & Circumstance.”

Store chief Kristi Grayston has taken over from Ronnie Viera as president of the Chamber, which represents business interests across the island.

Ms Grayston, only the second woman Chamber president, said the organisation faced a number of problems as Bermuda continued to grapple with the recession.

Ms Grayston, only the second woman Chamber president, said the organisation faced a number of problems as Bermuda continued to grapple with the recession.

She added that the 60/40 rule, which guarantees majority ownership of local businesses, needed to be examined, while some chamber divisions still had trouble with immigration issues.

And she said that the real estate division was still looking for more legal changes to boost a flagging sector.

Ms Grayston added that the Chamber would continue to lobby Government to retain tax breaks for the hard-hit retail and restaurant businesses. (More at Royal Gazette)

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