Amending food tariffs is one of the items on the agenda for high level talks about softening the blows from the declining world economy, Premier Ewart Brown has revealed.

Government taxes all but a handful of food items with some items costing as much as 22.25 percent.

Ten percent is added to the price of bread and pasta while the Finance Ministry also puts five percent on meat, fish, fruit and vegetables.

Dr. Brown said the issue would be looked at in the coming weeks by the Council of Economic Advisors (CEA) but he cautioned Government would not rush into change.

He told The Royal Gazette: "The status quo will remain in place unless we think it is prudent to change.

"There will be some serious discussions during the meeting of the Council of Economic Advisors and I am sure that will be included.

"We have thought about it but there have been no formal discussions."

Dr. Brown said Government would have to assess if an end to food tariffs would be sustainable.

"The Government is still waiting to see the economic impact of decisions made recently – for example the free transportation for children just started, day care is yet to come.

"We have some significant initiatives whose economic impact we have not measured."

Asked about whether Bermuda's tax structure would be looked at he said: "We will look at everything but at the moment the tax structure seems to serve Bermuda well and there's been no discussion about changing it."

The CEA was created a year ago by Dr. Brown and included Bank of Bermuda CEO Philip Butterfield, Butterfield Bank chairman Brian Duperreault, Capital G chairman and CEO James Gibbons, XL Capital CEO Brian O'Hara as well as hotel magnate and former chairman and CEO of Black Entertainment Television Bob Johnson.

The group was formed to look at ways to improve the quality of life for Bermudians.

This week charity worker Martha Dismont, of the Family Centre, called on Government to axe food tariffs as Islanders struggle with high food prices which are now running ahead of inflation.

The latest figures show inflation running at five percent with the food sector being the largest contributor to the hike with a 6.5 percent rise.

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