In an interview with Ahmed ElAmin, and in a speech before the Chamber of Commerce, Finance Minister Eugene Cox discusses the programme ahead under a PLP Government.

After a month at the helm of the finance ministry, PLP Deputy Leader Eugene Cox is working on preparing his first budget to be given in mid-February.

Mr. Cox, 70, repeated his promise that the new budget will impose no new taxes. He will also be looking at cost-cutting measures to pay for the PLP's new programmes announced in the Throne Speech.

Already he has found in his review of Government contracts examples of the overspending made by the previous UBP administration. He promised that under the PLP the process of bidding will become more transparent.

"It was like they (the UBP) were giving away the shop,'' he said. "There were inflated amounts involved. A few of the contracts left much to be desired.'' He said he supports making the bidding process for Government contracts more open to the public. He wants to ensure more businesses have an opportunity to bid on contracts. Mr. Cox said he would also suggest to Cabinet colleagues that the reasons and amount behind the choice of a bid on a Government contract is made public.

"If that had been done before we would never have had a Westgate,'' he said referring to the UBP Government's secret payment of $2 million to bail contractors Sea-Land Construction out of financial difficulties during the building of the $30-million prison.

He said Government had to keep a careful watch on contractors who tended to inflate prices when bidding for public contracts.

Mr. Cox repeated his election claim that the 1998 Government Auditor's report shows the UBP mismanaged spending. He believes he can cut enough costs out of Government and make revenue collection more efficient to pay for PLP programmes. He will also be keeping spending by fellow ministers under control.

"We will look at how best to minimise costs,'' he said. "It's my experience that 15 to 20 percent can be cut from costs.'' To achieve better efficiency Mr. Cox said he plans on strengthening the offices of the Auditor, and the Accountant General.

"We need to give them the resources they need to get the job done,'' he said, adding that there would be no witch hunt of businesses to get them to pay the taxes they owe. He also plans to give more resources to the Statistics Department to ensure more detailed and more timely economic data is supplied to Government. That way Government will be better able to plan and use resources more efficiently. He also announced a proposal to discuss an end to the voluntary system under which businesses supply employment information to Statistics. He said the system is not working and he will be looking at making reporting mandatory if necessary.

Mr. Cox is also studying a consultant's report -- completed by the previous UBP Government -- on Bermuda's tax collection system. He said the report will be made public after it goes before Cabinet.

Mr. Cox said since the Constitution requires him to give a budget within the first three months of an election all his efforts were going into the task.

Initiatives to review the tax system will be put on hold for later budgets.

He proposes in the future to help businesses by possibly deferring some of the customs duty payments until the goods are sold. More loans will also be available for small businesses, according to the Throne Speech.

He repeated the PLP's pledge that the imposition of income tax is not part of the party's platform. Government also needed to develop ways of helping improve the performance of the tourism and retail sectors, he said.

Government will work to eliminate discriminatory practices and ease the regulatory burden on small businesses, he said. Access to adequate financing and training is also on the cards.

"We will also re-prioritise Government spending to permit enhanced expenditure in social programmes,'' he said. "We will manage Government expenditures to minimise the annual deficit and growth of public debt.'' A promised Government advisory body -- consisting of Government, business and labour representatives -- will be established early next year, he said. The National Tripartite Commission will deal with such issues as a proposed unemployment insurance programme, funded by employer and employee contributions for example. "The economy, though performing well, is not meeting the needs of all Bermudians.'' On the international front Mr. Cox plans on following the strategy of the previous Government in dealing with moves by the European Union and the Organisation for Economic Co-operation and Development against what the organisations label as "harmful tax competition'' from offshore jurisdictions.

"Bermuda is not a tax haven,'' he said. "Bermuda is tax neutral in the sense our taxes apply to both local and international companies on an equal basis.''