The chairman of the Commission of Inquiry could be paid $700 per day in addition to expenses, Michael Dunkley told the House of Assembly.

Meanwhile, the three other members investigating how taxpayers’ money was handled under the former Progressive Labour Party administration could get $5,000 per month, the Premier said.

The proposed figures were revealed during the opening of the debate on the Commissions of Inquiry Amendment Act 2016 that seeks to amend the 1935 act in relation to the fees payable to commissioners.

According to Mr Dunkley, the Authorities Fees Act 1971 allows for a chairman to be paid $100 per meeting, while other members receive $50.

“Clearly, these fees are not appropriate remunerations for the amount of time that commissioners would have to devote to these necessary tasks to complete their work within the appropriate time,” he said. “In addition, the fees are not appropriate for the level of work and expertise required.”

The Bill, which was passed on Wednesday evening, allows for the Premier to determine how much commissioners should be paid, and to make the determination after consulting with the Governor if the latter appointed the commissioners.

It was announced on February 24 that Bermuda Court of Appeal judge Sir Anthony Evans will chair the commission. He will be joined by former One Bermuda Alliance MP and lawyer John Barritt, businessman Kumi Bradshaw and businesswoman Fiona Luck.

Mr Dunkley said: “To get the best possible results from any commission we must appoint the most appropriate, qualified appointees. However, we must also be prepared to remunerate the commissioners commensurate with their professional qualifications and experience.

He said this also applies to future commissions but he added that the state of government finances must also always be considered.

Mr Dunkley said: “It is proposed that the chairman will be paid $700 per day plus expenses. This is the typical rate for Court of Appeal. The remaining commissioners would be proposed to be paid $5,000 per month for their work.

“It is anticipated that a policy analyst will be seconded from the Central Policy Unit at no additional cost to the commission and will work along with the commissioners to make sure that the work is prepared.”

He added that a legal resource will also be retained but the cost has not yet been agreed on and the commission is also expected to incur normal operational costs.

However, the Premier said talks were under way to secure the use of a Hamilton office space at no cost.

Opposition backbencher Zane DeSilva questioned how the talks came about, offering his own office space free of charge for the use of the commission.

Responding to the announcement of how much the chairman will be paid, Marc Bean said he could not argue the amount if “that’s the normal going rate for someone of Sir Anthony’s calibre”.

However, the Leader of the Opposition said he would liked to have seen a more balanced compensation package and would not be opposed to seeing adjustments to the other three commissioner’s rates or those of the chairman, stating that “no one knows the degree of work that’s going to be required in this Commission of Inquiry”.

PLP backbencher Walton Brown welcomed the amendment, saying “we’re moving towards a somewhat more modern period where the Premier will now be able to determine, despite the Governor’s ability in the legislation to establish a Commission of Inquiry; the Premier will now have the authority to determine whether any Commission of Inquiry will proceed”.

However, shadow finance minister David Burt said he found it “interesting” that the Government had allocated $480,000 for the commission in the Budget at a time when Bermuda “is strapped for cash”, “can’t find money for simple things” and seniors and students “are going without”.