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UBP Senator rejects Independence

saying that there are too many economic issues facing the country that need the attention of the Government and the people of Bermuda.

And she has also said it makes no economic sense for Bermuda's financial institutions to avoid getting involved in the Bermuda Financial Centre Ltd.

Sen. Milligan-Whyte said: "Government needs to start focusing on issues such as those raised by the Commission on Competitiveness. Independence is not going to put more money in our pockets. It is not going to make life better qualitatively.

"My agenda, if I could call it that, is to try to deal with the economic issues facing our country. We are going to inherit ten percent of our land mass back (from the military bases). Whatever we do with that, it has to be for the overall benefit of Bermudians. It is issues like that, that we need to be emphasising.

"My particular bias is to encourage a third leg to the economy. We can't just carve up the land. We must think of our long term economic interests and determine what other industry that Bermuda could logically develop that would forever bring money into the economy.

"It has to be an industry that encourages Bermudians to be a part of it.'' The businesswoman believes that Bermuda must define a role in the information superhighway.

Her law firm, Milligan-White and Smith is acting for the Bank of Bermuda in the Bermuda Financial Centre Ltd. development. The bank is an advisor to the BFCL.

She said last week that other financial institutions should participate in the scheme as well.

"BFCL has a lot going for it, but I don't think that just one financial institution should be involved in the risks,'' she said.

She said Bermuda was in desperate need of a centrally located business hotel.

"I have clients who come to Bermuda and they often stay at hotels close to the City. Most of the complaints are that they don't cater to the executive.

"I know that the Princess has tried to do that. But they are not yet successful. We need a hotel that has fax machines in the room and a pool of secretarial services.

"They need televisions in their room that have CNN and business news. The executive needs to be in touch with his office and the world, when he is travelling, no matter what hour of the day or night it is.

"I hear a lot of complaints that Bermuda still has not developed a hotel product that caters to the business traveller.'' Sen. Milligan-Whyte dismissed any notion that the hotel part of the BFCL plan was not viable.

She said Bermuda could be its own worst enemy, when it comes to international business. She is confident that little on the international front can stop the interest in Bermuda by foreign capital.

As those camps of capital concentration in Europe, North and South America seek trade and tax neutrality, Bermuda is often an obvious choice. But she said that Bermuda's competitive edge could be eroded by what happens here.

She said that we have to return to a more peaceful society.