A vision of Bermuda as a hotbed of ?creativity? and ?innovation? has been outlined by Finance Minister Paula Cox.

Ms Cox also spoke about the vital role of sustainable development ? and backed ?trailblazing? plans by Belco to sink the world?s first underwater power generator off the south coast of the Island.

She said green-friendly projects like this should be replicated, and said Bermuda needed to position itself, not as an ?old woman?, but as an innovative location.

?I like the concept of Bermuda being seen as on the fast-track, and a place of innovation and a place where there?s creativity and a place where ideas can flourish,? she added, raising the idea of tax incentives for new homes in Bermuda to be fitted with energy-saving solar panels as oil prices continue to rise.

The minister said she did not know the specifics of the Belco proposal but stressed that she liked the idea of innovators. And ministers needed to work in tandem when drawing up sustainable development blueprints, the meeting was told.

Ms Cox hailed the PLP?s handling of the economy since taking power in 1998, but said some of the country?s outmoded approaches had let global rivals in financial services ?get a little bit too close?. And the politician who controls the nation?s purse strings told the Devonshire meeting last week that the economy needed to become more diverse. The growing international business sector was still ?bringing in the bacon?, but was not as far ahead of competitors as it used to be, and tourism and entrepreneurial sectors needed bolstering to ease the dependence on the ?twin pillars? of global trade. Stating the importance of education and the recently announced Workforce Development Strategy, she said it was vital Bermudians were properly trained when employment vacancies emerged or when work permit jobs came to be replaced.

Thursday night?s meeting was attended by about a dozen PLP supporters. And Ms Cox said that if the Budget had been more ?punitive? the meeting would probably have been full.

She also warned the meeting there would be a lot of ?drivel? and ?claptrap? from the Opposition over the next few weeks in response to Government?s financial blueprint for 2006-2007.