Development -- aimed at making Bermuda more competitive.

Premier the Hon. Sir John Swan announced on Friday they were being considered by Government.

The ambitious proposal has been presented by Mr. Mansfield Brock and Mr. David Lines.

They were the chairmen of the Commission of Competitiveness, and the Premier's Task Force On Employment.

In a letter to Sir John they said a private/public sector organisation was needed to put in place their ideas for strengthening Bermuda's economic position in the world.

They recommended the new institute be placed under the leadership of a Cabinet Committee.

The institute would be split into an "economic division'' and one on "human resources''.

They would be responsible for: Developing and publishing criteria for setting up new industries in Bermuda, and putting forward plans for new businesses; Producing annual "economic and human resource statements'', with the focus on long-term plans for making Bermuda more competitive; Checking and advising on the recommendations of the Commission of Competitiveness and the Task Force On Employment; Sponsoring special studies on economic issues facing Bermuda, and arranging public meetings to address these; and Undertaking research -- such as on prices -- for the private and public sector.

Mr. Brock and Mr. Lines said the institute would report to a Cabinet Committee made up of Sir John, and the Ministers of Finance, Labour and Tourism.

An institute chairman would be chosen by the Cabinet Committee from the private sector.

The new organisation would comprise representatives from the Bermuda International Business Association, the Hotel Association, Tourism Ministry, and employer and worker associations.

"It is envisaged that initially the professional staff of the two divisions would consist of six individuals at an estimated cost of $500,000.

"These will be supplemented by consultants on short term contracts as the need arises.'' They said the institute would "manage the implementation of the recommendations with long term strategic implications for Bermuda''.

Sir John told the House of Assembly on Friday that the idea for an institute would be considered.

"We will study this proposal at the same time we study the two groups' other recommendations,'' he said.

Sir John told MPs he had appointed two Cabinet Committees to review the recommendations.

Finance Minister the Hon. David Saul would head the committee dealing with the report on Competitiveness, which contains 156 recommendations -- 64 of which have already been, or are being, put into effect.

The committee looking at the report on employment would be led by Labour Minister the Hon. Irving Pearman, said Sir John.

Mr. Mansfield Brock.