uses of properties which will fall into Government hands as a result of the base closures, Finance Minister the Hon. David Saul announced yesterday.

And he promised Shadow Finance Minister Mr. Eugene Cox a full breakdown of how the money will be spent.

Dr. Saul told the House at the beginning of the Finance Ministry Budget debate that some of the $2 million base investigation money would be spent on travel and preparing models of the sites.

He said: "I will undertake to give a breakdown of how the money is spent.'' Earlier Mr. Cox had said: "It is important that Bermuda knows what we are doing as far as the base closures is concerned. I would have thought that Government would know where it is going and how much it is going to cost.'' Dr. Saul pointed to increases in staff in the nine departments of the Finance Ministry and stressed that there had been a "strengthening'' of the vital Registrar of Companies department.

An extra $2.1 million has been made available and nearly $2 million of that will go into investigating the use of properties left over with the base closures.

Dr. Saul defended the employment of expertise for professional and special services like the tax review, pension reviews and, from time to time, the need for an official receiver.

Mr. Cox asked why there had been a 14 percent increase in salaries.

Dr. Saul said the increase in salaries was due to senior officers being asked to delay their retirements and receive money for the terminal leave they were owed. He stressed that one officer had agreed to carry on after 40 years work until his post could be filled.

Moving on to the budget of the Accountant General's Department, Dr. Saul said it was nearing complete Bermudianisation, with only six out of 39 non-Bermudians still in the department.

And he was pleased to point out the appointment of the first-ever female Accountant General Mrs. Heather Matthews.

Mr. Cox pointed out that Mrs. Matthews is also the first black Accountant General in Bermuda's history.

The shadow minister questioned Dr. Saul on whether Government had now fully funded the superannuation fund.

He asked how far down the road Government was in broadening the contributory pension scheme.

Mr. Cox expressed concerns over the amount of stamp duty for people who have inherited property from family and friends.

While most "sin taxes'' have been increased in the budget Mr. Cox wondered why the betting tax had not been raised. He said this seemed unfair on the ordinary person.

He asked for a report on the Bermuda Monetary Authority and consideration to be made to turn it into a central bank.

He said Government would soon be coming up with a formula to set up a pensions' office and pensions' commissioner to look at the National Pensions Scheme. He said: "Employees must know that they are to get a pension that is soundly run and well managed.'' Concerning stamp duty the Finance Minister said that there were concessions available for beneficiaries who found themselves in financial trouble.

Turning to betting tax Dr. Saul said: "When people, in the past, were doing quite well going to the betting shop, Government, in one throw, put in a tax of 25 percent.

"We found, much to our amusement, that people did not go to the betting shop any more. What we did then was drop it back to 15 percent.

"The secret of taxation is that you do not kill the goose that laid the golden egg. We would not have gained much from putting up the betting tax. We went for the owners with licence increases instead.'' Dr. Saul said Government was preparing to plough half the Bermuda Monetary Authority profits back into their coffers instead of the consolidated fund.

He said the BMA did not have the capital reserves to act as a Central Bank or lender of last resort.

The Finance debate will continue on Wednesday.