government and counter any pre-election jitters about the PLP's ability to handle the economy. Neil Roberts reports International business leaders have rallied behind Bermuda's new Government, predicting the Island's economy will continue to grow.

Glenn Titterton, Chairman of the Bermuda International Business Association, allayed fears the PLP Government would signal a flight of international finance companies.

Instead, he said BIBA expected "further growth of the international business industry, through a continued partnership between public and private sectors''.

Mr. Titterton said he felt both major parties realised the importance of international enterprise to the Island's economy.

He added: "We are very confident that the economy will continue to prosper, with international business as one of its major driving forces, and we look forward to working with Premier Smith to help promote Bermuda, its people and its attractive business environment.

"Throughout the election campaign, the main parties acknowledged the importance of the international business industry to Bermuda, an industry that contributes over half of Bermuda's income.'' He said Bermuda's decision to vote in the PLP was "a sign of the maturity of the democratic process of the country''.

Mr. Titterton added that BIBA was "ready to look to the future and work with the new Government for the benefit of the entire community''.

Former Finance Minister Grant Gibbons warned on the eve of the election that a UBP defeat could cost the Country $740 million in lost international business.

He said it was "amazing'' that Alex Scott, then Shadow Home Affairs Minister, was standing by his claims that the UBP, through its business links, was too close to crime to bust major drug dealers.

Dr. Gibbons, now in Opposition, added: "I have said it before, but Mr.

Scott's comments require me to say it again. The PLP and the people of Bermuda cannot count on a UBP economy if the UBP is not the government. It is that simple.'' He said figures for 1997 showed international business spent more than $740 million in Bermuda, with their visitors contributing an extra $19 million.

"These businesses are directly and indirectly responsible for over 13,000 jobs,'' added Dr. Gibbons.

"Eighty percent of this expenditure comes from international businesses that have an office and employ people, the majority of whom are Bermudians, in Bermuda. This is what is at stake if a loss of confidence hits our international business community.'' But Bermuda Stock Exchange Chairman William Woods echoed Mr. Titterton's view that Bermuda's wealth could grow under the Progressive Labour Party.

He added: "The BSX has certainly been a beneficiary of the success of international business in Bermuda and its total market capitalisation now exceeds $50 billion.

"We anticipate building on the growth we have experienced through the continued prosperity of Bermuda as an international business centre.'' Glenn Titterton William Woods