legislation through the House of Assembly which significantly raises bank and deposit company fees.

The Bill raises annual licensing fees to $750,000 for the two large banks.

Fees are increased by $100,000 for the smaller bank.

And deposit companies must now pay $5,000 a year to Government. Dr. Saul noted their fees had not been raised in five years.

Shadow Finance Minister Mr. Eugene Cox said he had no problem with the Bank and Deposit Companies (Fees) Amendment Act 1994.

Going by the reported profits of the banks this year, they could well afford the increases, he remarked.

The Bank of Bermuda had reported profits of $29 million, he said. The increased fees represented just 2.9 percent of that amount.

Dr. Saul also introduced a series of medical insurance Bills for consideration of the House: The Hospital Insurance (Standard Premium) Regulations 1994; The Hospital Insurance (Deductions) Amendment Regulations 1994, which limits employee deductions to 50 percent; and the Hospital Insurance (Standard Hospital Benefit) Amendment Regulations 1994, which provides for coverage of the hospital's new speech therapy service.

If passed they would be effective April 1, Dr. Saul said.