BGovernment last night passed a bill setting out how its general reserve fund will operate.

But the Opposition said there was little accountability and wondered what the fund was for.

Finance Minister said the fund would hold money given by the US for maintenance of Longbird Bridge as well as corporate donations. In her main budget speech she said it would take the $1 million donated by HSBC but last night she said that cash would go straight to Bermuda Housing Corporation as the bank had wanted it used for emergency housing. She said the General Reserves Fund would only take donations which didn?t have a specific purpose which caused Opposition Leader to question what company would decide to donate money to government with no aim in mind.

Dr. Gibbons said the fund had less accountability than the consolidated fund as the Finance Minister could simply withdraw from the fund and tell Parliament months or even years later.