Party Leader Mr. Frederick Wade said yesterday.

Nor did the PLP want interest rates to float, Mr. Wade told The Royal Gazette .

The party's position on moves widely rumoured to be planned for Government's upcoming Budget was hammered out at a weekend symposium at Grotto Bay Hotel, Mr. Wade said.

"We are opposed to the removal of foreign exchange controls and the tampering with interest rates,'' he said.

He did not want to give detailed reasons for the PLP's position, but said the changes that had been discussed would not be in the best interests of a majority of Bermudians.

"We're satisfied with our reasons,'' he said.

Shadow Finance Minister Mr. Eugene Cox did not want to state details of the PLP position, either. "I will be addressing that in my Budget response in due course,'' Mr. Cox said.

Mr. Cox noted he earlier told The Mid-Ocean News exchange controls were the only way Bermuda now had of avoiding criminal money laundering.

Aside from the issue of exchange controls and interest rates, the February Budget would be "an interesting one,'' because of the high cost of the United Bermuda Party's campaign Blueprint promises, Mr. Wade said.

The PLP's 14th annual symposium ran from Friday night to Sunday.

Party members discussed the economy, the Budget Reply, the Bases issue, voter registration, the Queen's visit and Independence.

Said Mr. Wade: "I am very satisfied with the high calibre of policy papers that were presented and with the lively discussion which followed.'' On Independence, the PLP remained opposed to Government plans for a Commission of Inquiry on the issue, followed by a referendum.

The Opposition favoured a Cabinet Green Paper, a Joint Select Committee, and a general election on the issue.

However, "the ball is in John Swan's court,'' he said.

Mr. Wade said there was a spirit of community, cohesion, and compromise at the symposium. There was no philosophical debate about the direction of the party, he said.

"We're quite satisfied with our direction,'' he said. "The PLP is right now a very united group who understand exactly where the party is, where it is going, and how it gets there.

"We're not having any philosophical discussions at all. There is no need for them.'' The PLP had been critical of management and labour relations at Grotto Bay Hotel, but it was chosen as the venue for the symposium because of recent improvements, Mr. Wade said.

"They have patched up all their differences and they have a very good relationship going on there,'' he said.