A `no' vote at the referendum would produce a mini economic boom as companies scrutinising the Independence debate rush to begin new projects, an MP believes.

Mr. Harry Soares claimed he knew of 20 major projects sitting on the drawing board and "ready to go'' if the Independence issue was defeated at the polls.

"I believe we will have a construction boom, the likes we have not seen for a long, long time,'' said the Paget West MP.

Mr Soares was one of the speakers at a meeting discussing `The Pros and Cons of Independence for Bermuda' organised by the Paget West Branch of the UBP.

Speaking against Independence alongside Mr. Soares were Dr. David Dyer, MP, Mr. Malcolm Gosling Sr. and Mr. Tim Smith, MP. Former Solicitor General Mr.

Peter Smith and staunch UBP supporter Mrs. Betty Smith spoke in favour of Indpendence.

Addressing about 150 people at St. Paul's Christian Education Centre, Mr.

Soares also said if the event of a vote for Independence "money and brains will leave the country''.

"Bermuda will have to prove itself all over again if we go independent.'' He also expressed the view that the two or three years needed to sort out Constitutional details would be more time spent diverting energy away from Bermuda's needs.

Dr. Dyer echoed Mr. Soares, saying that in 1993 the UBP had produced a `blueprint' for the future of Bermuda but had "thrown it away to start talking about Independence''.

"We have not handled this properly, the best thing we can do is leave this alone. This is not a scare tactic, but if the UBP fails to look after existing problems, it will produce social unrest.'' Speaking in favour of a yes vote on August 15, Mrs. Smith said she had been saddened by the personal attacks on the Premier, Sir John Swan.

Mr. Smith urged people to vote for Independence under a UBP Government. "I am not prepared to take a chance of us ever going independent under a PLP government,'' he said.