said.

Mr. Trevor Moniz MP said with the Island facing the return of the American Bases and other extra costs, "I'm very concerned about Bermuda's financial situation''.

Finance Minister the Hon. David Saul is talking about hiking taxes in the February Budget, but "we potentially could raise a significant amount of money on a national lottery,'' Mr. Moniz told The Royal Gazette .

It could help to pay for needed projects like the National Stadium, he said.

"Everyone has lotteries now. They've proven very profitable.'' Lotteries are opposed by churches and by those who see them as a tax on the poor.

But Mr. Moniz said that since participation in lotteries is "completely voluntary'', they cannot be called regressive.

"Let's face it, a lot of Bermudians buy lottery tickets when they're away,'' said Mr. Moniz, who represents Smith's South for the United Bermuda Party.

In Bermuda, lottery tickets would be purchased not only by residents, but by many of the 500,000 annual visitors, he said.

Mr. Moniz believed Government had the power to hold a lottery under the Lotteries Act, though it might wish to pass legislation for a national lottery.