The Ministry of Finance will see three new posts dedicated to supporting international business, while the work of the Bermuda International Business Association will get a $350,000 boost for its marketing effort.

And the Police Service will also get a cash injection of an extra $1.2 million to improve efficiency and help step up the war against crime.

Children will benefit from extra social work support to combat child abuse and strengthen the family. The elderly will be helped by extra cash to fund in-patient hospital care and the first phase of the National Pension Scheme will be implemented.

And while bus and ferry fares for the general population will go up by five percent, the elderly and disabled will get special cards entitling them to free travel on public transport. The cost of a car licence, however, will also go up by five percent.

And the King Edward Hospital and St. Brendan's will see an extra $5.4 million, while education initiatives will get a further $2.6 million.

Duty on printing paper has been abolished, while duty on printing machinery has been reduced.

But Dr. Gibbons pledged to keep the growth in total Government spending -- which has exceeded economic growth in recent years -- to 2.5 percent, which is in line with the expected inflation rate.

He said: "The Budget will, therefore, set the stage for a steady decline in the size of Government relative to the overall economy.'' But Government is also to review the legislated debt ceiling set in 1991. A policy restraint also pegs debt at 10 percent of the Gross Domestic Product -- which remains set at $185 million.

Dr. Gibbons also unveiled Budget figures which he said were "overall....very encouraging''.

The projected results for 1996-97 show revenue rose more than $20 million above that Budget's estimates to more than $473 million, while expenditure is expected to be $1.3 million lower than expected at $435 million.

Spending on debt charges is likely to be $2 million less than predicted, while Social Assistance is set to come in $2 million under the Budget figure.

Government is expected to spend a total of $526.7 million -- up 2.5 per cent -- in 1997-8 while revenue is predicted to hit $488.4 million, up by 3.2 per cent.

Current expenditure is expected to reach $461.7 million and expenditure on major building projects will hit $65 million.

Progressive Labour Party Shadow Finance Minister Eugene Cox slammed the financial blueprint for 1997/98 as a failed attempt to capitalise on the feelgood factor in the run-up to a general election.

And he said: "The reason for an attempt at a feelgood Budget is because we have a pending election.'' Mr. Cox said that tax breaks in retailing benefited tourists, not the man in the street.

He added: "We have to assist our tourists but we have to be realistic. Our consumers must benefit when an attempt is made at a Budget.

And Mr. Cox pointed out that ferry and bus fare increases would hit not only residents but visitors as well.

He claimed the Budget Statement sounded good -- but lacked substance.

Mr. Cox said: "It's a lot of verbiage in the Budget but I want to see some programmes and a demonstrated attempt to make things happen for Bermuda -- the restructuring of Government.'' And he accused the UBP of a "half-hearted'' adoption of a PLP vision of a Ministry devoted to international business without giving the Opposition credit for the idea.

Mr. Cox said: "It's these kinds of things which say to me it doesn't come across as a feelgood Budget.'' But Dr. Gibbons said that an election date was a matter for Premier David Saul -- who last month ruled out a snap poll in the interests of stability.

He added: "There are some people who will say it's an election Budget but this is a Budget appropriate to the challenges of 1997.

"It's a good, balanced Budget -- it will stimulate certain types of spending in the economy and that's very positive.'' NO FEELGOOD FACTOR -- Shadow Finance Minister Eurgene Cox takes issue over the Budget at a PLP Press conference yesterday.