A Cabinet Minister launched a blistering attack on HSBC in the House of Assembly last night, saying he feared the mega-bank?s influence would turn Hamilton into another Hong Kong.

Minister of National Drug Control Wayne Perinchief also heavily criticised the Corporation of Hamilton?s plans for the redevelopment of the city?s waterfront.

Speaking during a debate on the State of the Environment Report, Mr. Perinchief said the denigration and pollution of the environment by overbuilding and misuse of land was a crucial issue.

He said the Government had already begun a dialogue on this through the Sustainable Development Plan, but questioned the stance on this from the ?business magnates in the Corporation?.

He criticised the plans for the redevelopment of Front Street unveiled by the Corporation in March, saying: ?It was a bit of a surprise to see that the waterfront plan that would take 20 years would also take up a lot of the harbour front, impact negatively on the marine environment, and change the face of Hamilton more than the seven-storey building HSBC wants to build.?

Asked by hecklers from the Opposition what he thought of this controversial plan ? currently the subject of an appeal ? Mr. Perinchief said he did not support it in its present location.

?I believe the uniqueness of Hamilton should be maintained,? he said. ?We?re already at saturation point. Do we want to become Hong Kong? I think not. The problem began with HSBC coming here.?

He said this company ? which bought the Bank of Bermuda in 2004 ? was behind large-scale development in Hong Kong.

?They?ve got Bank of Bermuda and there?s a five-hundred-pound-gorilla in your front yard. Big money and big capital drives development,? he commented.

He called for a dialogue to begin on this issue and asked: ?What are we willing to sacrifice to earn another dollar??

Mr. Perinchief also advocated moving the current Hamilton docks to Morgan?s Point and developing a ?mini commercial area.

?He said that trucking goods down from Morgan?s Point could be avoided by having a dock at Spanish Point so smaller ships could take the loads into town by this means.

?We just need the right brainstorming to bring about solutions.

?We have to be open to fresh ideas,? he said.

Advocating more joint planning, he commented: ?We cannot allow the Corporation of Hamilton to operate independently from the Government and Corporation of St George.?