William Bramble was invested as the first Chief Minister of Montserrat in 1960 after constitutional changes introduced ministerial government; by then the cotton production was in a decline, as the workers were rather emigrating to United Kingdom. Coping with this situation, he formulated an economic project, with three objectives: the diversification of the exploitation of the rich soil of the country for exporting regionally, the development of the industry of tourism, and the development of a strong offshore banking through taxation exemption.