Government's cost cutting methods have come too little too late according to Shadow Finance Minister Grant Gibbons.

Dr. Gibbons comments came last night in response to news released by Acting Finance Minister Alex Scott on Friday, that Government was tightening its belt because of a slowdown in revenue intake from taxes.

Government confirmed yesterday it has decided to suspend overtime pay to all employees, suspend non-essential overseas travel by Government personnel, halt non-critical capital acquisitions and place a hiring freeze on vacant posts.

But last night the United Bermuda Party (UBP) stalwart said he and his party had been predicting signs of a possible slowdown in the beginning of the year.

And he suggested that Government have been reactive rather than proactive in handling the uncertain economic fallout in the wake of the September 11 events.

"Back in February of this year during the Budget debate, we the UBP saw signs of weakening in the US economy and we urged Government to be more cautious," he said.

"The $74 million in spending was undisciplined and went way beyond what was prudent. It's only since September 11, that's making them realise it's not business as usual."

Dr. Gibbons said that although the Government was trying to put steps into place to prepare for a downturn they needed to come clean and be more in depth about what these cost cuts involve.