and prosperity for the Island.

But he warned that, to be successful, development had to balance the conflicting desires thrown up by the return of the former military installations.

Dr. Gibbons, speaking during the Finance Ministry budget debate yesterday, added that construction at Morgan's Point was due to start some time between October and December, depending on the planning process.

He said the Bermuda Land Development Company development would include a world-class golf course, cottage colony, a village-type centre, houses and parkland.

And he added: "This development will provide literally hundreds of jobs, new career opportunities, new recreation areas and a real boost to the tourism product in Bermuda.

"That was part of the mandate of the company and part of the development plan.'' He added the public and business sector had also become involved through special open days at the former Base lands.

Dr. Gibbons said interest in the old Canadian Forces' Base at Daniel's Head had suffered because of the "fuss'' over the future use of the land by local residents.

But he said the emphasis on the area would be on "more natural tourism and adventure tourism''.

Dr. Gibbons added: "It's an area which has been growing, but also it will allow them to involve the community to a large degree.'' And he added a different emphasis would allow groups like the Sandys Community Action Group to use facilities on the site.

He predicted Morgan's Point would boost the attractiveness and value of the Daniel's Head and Tudor Hill sites -- and provide a shot in the arm for existing hotel and tourism-related businesses in the area.

The BLDC was also looking at was the provision of residential property, possibly on the Base lands, although he said that Morgan's Point would provide homes across a broad price spectrum.

Dr. Gibbons said there had been a lot of discussion about the old US Navy housing at Kindley Field -- but the houses were not up to Bermudian standards and would cost too much to renovate.

He added keeping the housing would also "sacrifice a lot of jobs and opportunities in the business and technical areas'' and said there were two land bank areas set aside for future development needs.

Dr. Gibbons said a balanced approach was needed to ensure the best was got out of the Base lands.

And he added: "There are a tremendous number of opportunities available but only through a balanced development of the site.'' Marginal Wharf is already under development, which will provide much-needed industrial land in a well-placed area with warehouse space.

He added that a total of 22 Bermudians were already employed through SERCO at the Airport or sub-contracted, while a change in security arrangements had released four Police officers from the old NAS for normal duties, while many Bermudians already had jobs -- including top ones -- through the Base lands redevelopment programme.

But Shadow Finance Minister Eugene Cox said the ruling UBP had taken Opposition ideas -- but not given credit. And he cited the PLP's call for a Ministry devoted to international business, noting Government had created a mini-department of three devoted to the sector in the Budget.

Mr. Cox also queried the length of the secondment of a Bank of England expert to the Ministry of Finance.

And he added that there were people who were worried about whether they would get a pension. The balance of retired and working in Bermuda was changing and he challenged the Minister to allay the fears of small business people who were worried about the cost of pension provision.

He added: "I have a special interest in the Daniel's Head area and I take issue with the word `fuss' -- there wasn't any fussing. It was people in Sandys who felt they had given to the community and here was a chance for Government to give them back some of the recreational space which had been taken away.'' Dr. Gibbons said the people of Sandys had "every right to express their feelings, but unfortunately it resulted in a mumber of proposals disappearing because of the controversy''.

The secondment system from the Bank of England was long-standing and valuable.

And he said Bank officials were rotated regularly.

Dr, Gibbons said the Accountant General's Department processed 98,000 invoices in the last financial year, made 35,000 salary payments -- which involved 205,000 cheques -- and processed 83,000 individual receipts.

He added a four percent increase in the Department's budget was due largely due to increased running costs and negotiated salary increases.

Mr. Cox paid tribute to the work of the Accountant General and her staff.

On superannuation, he said that every time the PLP commented on the issue, Government tried to make out that the Opposition was "not on top of the financial procedure''.

If Government employees, MPs and Ministers pensions were added together and included in pension liability the figure would rocket by more than $164 million.

But Dr. Gibbons said it was important to remember that the superannuation fund and the Members' fund were new funds and that there had not been that many contributions to it.

He added pensions had started being withdrawn from the superannuation fund earlier than expected and that the liability would decrease over time.

Dr. Gibbons stressed that there was "a clear distinction'' between liability and debt -- and that if there were insufficient funds, cash would be taken from the consolidated fund, so no-one should fear for their pension.

Dr. Gibbons said Customs duty was expected to raise $144 million in revenues, up $5.8 million, due largely to a projected upturn in the economy.

Mr. Cox said Customs duties were the Island's major tax and people were calling for a revised tax structure -- an issue that should be addressed.

He also suggested it was "dicey'' to rely so much on projected revenue when the economy could suffer a downturn.

In response Dr. Gibbons said the percentage of Government revenue from duties was down to 29 percent and that Government had already committed itself to a tax review.

The Finance Department also covers the Post Office, and a review of its operations last year resulted in several changes including air mail going to New York instead of Miami and Atlanta.

The Post Office is examining installing automatic sorting equipment and the introduction of bar coding.

Mr. Cox pointed out that the Post Office $9.1 million revenue was $200,000 below costs and Stanley Morton (PLP) asked if the Post Office was looking at setting up a savings account. Dr. Gibbons said he would pass the savings idea to the Post Master General Clevelyn Crichlow.

On the Department of Statistics Mr. Cox asked if reports could be tabled "on a more timely basis''. He said: "We do not get the information as readily as we might do.'' Ottiwell Simmons (PLP) also asked if statistics could be drawn up on the health of the nation which could be used to help pinpoint problem areas and eventually cut health costs.

On the timing of reports, Dr. Gibbons said staff were limited and had priorities, but he agreed with Mr. Simmons and said that was one of the recommendations included in the recent Health Care Review report.

Finance also includes Management Services which has been involved in a series of projects including helping to implement Commissioner Colin Coxall's service strategy.

Other schemes it was involved in included a review of the Fire Service, Customs and the Ministries of Tourism and the Environment.

Ministry of Finance 1997/98 estimates Ministry Responsibility: To supervise the economy of Bermuda generally and to provide overall financial management and control of all Government activities.

Budget Estimate: $73,187,000 (last year $66,483,000) Budget Allocations Ministry of Finance HQ $7,713,000 Accountant General $24,275,000 Customs $7,775,000 Post Office $9,320,000 Others $24,104,000