pre-election attempts to persuade international businesses that a PLP Government would not harm their industry.

A straw poll among international businessmen yesterday revealed that many, although by no means all, are genuinely concerned about a change of power.

Fears arising from the uncertainty of change, rather than potentially harmful PLP policies, appear to have most international businessmen supporting the UBP.

But an executive with one of Bermuda's largest international insurance companies welcomed the PLP's policy of forming a Ministry for International Business.

And he admitted some exempted companies did not have adequate policies to train and employ Bermudians to take over top posts.

"In many cases, Bermudians are not being identified early and told that in three to five years this leading job will be yours and we are going to give you everything you need to get there,'' he said.

"Personally, I've wondered how long international businesses would be allowed to carry on without any great demand being made on us to train a Bermudian to fill a non-Bermudian position.'' He added: "Nobody believes there will be a mass exodus of international firms simply because there was a change in Government.

"There's far too much at stake for these companies to leave. A new Government would be given every chance to prove itself.'' The PLP appears to have been successful in quashing fears that it would introduce policies to directly harm a sector that earns the Island more than $400 million in foreign currency.

But some businessmen were worried that the PLP might not have the necessary leadership skills to run a smooth economy, which they feared could lead to a breakdown in the Island's infrastructure, causing some companies to flee.

Following several interviews with businessmen, carried out on an unattributable basis to encourage people to speak more freely, the overwhelming view was that international business does not relish political change.

One insurance company executive summed it up when he said: "One of the things above everything else that attracts companies to tax havens is political stability.

"Any potential change of Government is always an important factor to take into consideration.

"These companies are not wed to Bermuda. If they feel threatened then they will simply move to another jurisdiction and there are many alternatives.'' Businessmen still remember the experiences of the Bahamas in the late 1960s when new Premier Sir Lynden Pindling made tax changes, causing exempted companies to flee in droves to Bermuda.

"He brought in a one percent tax on insurance premiums and did not make it clear it did not apply to international business,'' said one Bermuda businessman.

"Company bosses became more cautious because they did not know what they were dealing with. They left overnight and did not go back.

"It is possible for Government to make this sort of mistake if the PLP wins.'' Some of the businessmen The Royal Gazette spoke with had been approached by the PLP recently as part of the party's attempts to reassure the sector that it supported international business.

One insurance executive said: "They came to us for obvious reasons and tried to demonstrate they weren't going to harm our sector.

"Their comprehension was superficial but that is what you would expect from politicians.'' The chief of one of the Island's largest exempted insurers said: "Eighty percent of Bermuda's captives could be gone overnight if policies they don't like are introduced, whether they are brought in by the UBP or the PLP. There are plenty of other domiciles to go to.'' He added: "After having discussions with candidates of each of the parties involved, if you could believe what everyone said there would not be much of a difference one way or another.

"The question is whether the out-front leaders of the PLP really speak for the PLP membership.

"I've not heard the official spokespeople of the PLP say anything that would concern me but whether they can satisfy their constituents with their policies towards international business is another matter.

"You read a lot of stuff of concern from PLP supporters who don't necessarily speak for the party.'' Fears that a PLP Government might make it harder to import professional workers were foremost in the minds of bosses.

These worries were worsened yesterday with the release of the PLP's election platform which stated that: 1. Work permits and their duration be "directly linked to Bermudian trainee and understudy programmes where appropriate''.

2. The number of work permit renewals will be further limited.

3. The number of immigration inspectors be increased.

When told of this policy, one businessmen who had earlier stated he would welcome whatever Government the people of Bermuda chose, said: "None of that's very encouraging. If they implemented all of that very ferociously they might get into trouble.'' The insurance boss said the UBP Government maintained "a good balance'' between the concerns of Bermudians and expatriates.

He added: "Having heard some of the statements which various PLP members and supporters have made attacking immigration policies and complaining about institutionalised racism, I'm concerned.

"Some of them actually believe there's some vast plot among international businesses to make sure that Bermudians do not get anywhere. It's a total fallacy that we all get together to keep Bermudians, and particularly blacks, down.

"I'm worried that the PLP might try to rectify problems that, in my opinion, don't really exist.''