Finance Minister Paula Cox's perceived flexibility on term limits gives her the edge over Premiership rival Terry Lister, according to key members of the business community.

Sources in local and international business yesterday named getting rid of the controversial policy as top of their wish-list for whomever succeeds Ewart Brown as Premier next month.

Ms Cox is widely seen as more likely to do that even though she was the Labour Minister that introduced them in 2001.

However Progressive Labour Party members said Mr. Lister — known for his hardline approach on the issue as Minister from 2001 to 2003 — can improve his standing with party loyalists if he pledges not to relax the rules.

Business leaders yesterday told The Royal Gazette they have largely been comfortable working with Ms Cox as Finance Minister, and described her as bright, intelligent and stable.

But some said she is still struggling to shake off her infamous "cog in the wheel" remark and the image that she's been unable to rein in her Cabinet colleagues' spending.

One leading businessman, speaking on condition of anonymity, said Ms Cox would have to seriously improve her leadership skills — especially her unimposing demeanour — if she takes over as Premier.

Mr. Lister was described as business-focused and more willing to "sort things out" but sources doubted that would be enough to match Ms Cox's strong public backing.

Long-shot candidate Dale Butler had support among smaller businesses, who noted his fresh ideas and business experience, but his chances of victory were deemed next to nothing.

Meanwhile Bermuda Employers' Council director Martin Law said it doesn't even matter who takes charge — as long as Government cuts its own expenditure instead of raising taxes.

Several prominent members of the business community spoke to this newspaper yesterday, but none would be named, saying they did not want to jeopardise relations with the three candidates.

One said: "The sentiment is that people are strongly in favour of Minister Cox; we are also hoping she will keep the Finance portfolio.

"Some people were not that happy because maybe she didn't come out against Ewart Brown when everyone thought she should; there were large issues with spending and budgeting and fiscal control.

"But she herself is very fiscally conservative. Her department did not spend or over-travel. She's an excellent speaker, very personable, and international business respects her and listens to what she has to say."

Some argue Ms Cox's leadership falls short because she didn't stand up to the Premier, but the source argued: "I don't think you can make that statement, not based on the way that Ewart Brown ran his Cabinet.

"A leader is there to be followed and what she was doing behind the scenes is completely different from the face that she put on in public.

"It will be easier for her to rein back spending with Ewart Brown out of the picture."

The source added: "I think there's concern on immigration policy. There's no question term limits shows Bermuda is an isolationist place, a hostile place to live. Mr. Lister's not willing to bend on term limits. He's categoric about it. Even though it was Minister Cox's policy, she's more willing to listen."

Another business leader said: "Minister Cox understands the implications of good governance and the relationship with international business.

"But she could have been stronger. Some of her comments recently, the 'cog in the wheel' remark, have cast a cloud over her. There have been budget overruns and over-expenditures, and the buck has to stop with the Finance Minister. How are we going to deal with the debt? She's going to have to need strength of character and backbone.

"I think she's going to have to change somewhat. She's very composed when speaking, but in one-on-one conversations it's very important to make eye contact. She's not known for making that eye contact. She needs to be seen as a leader that speaks directly to you."

Another said: "Terry Lister is considered by many to be more business-focused and perhaps more willing to do the sort of things that need doing. Having said that, Paula Cox is capable of doing what needs to be done."

And a small-business owner said: "I'm hoping for a fresh change. That is what Dale Butler would bring to the party. But I suspect he's not going to get elected."

Chamber of Commerce president Stephen Todd would not pick a favourite, but said "prohibitive" term limits urgently need revisiting for whomever gets the top job. "If we are going to attract the talent we need in Bermuda, we have to realise people are discouraged because of term limits," he said. "Six years is not a long enough time to provide the degree of comfort that's required. We would hope that the dialogue would open when there is a new Premier and that our concerns and those of international business are given full consideration."

Mr. Law said: "It doesn't really matter to us who the next Premier is provided that whoever it is tackles Government's finances in a way that does not put any extra burden on employers.

"Employers are struggling and the economy shows no signs of improvement. Government must tackle its finances by cutting expenditure. There is no scope for the business community to increase Government revenue through increased taxation. Any such moves would simply drive the economy down and further erode the tax base."

Bermuda International Business Association CEO Cheryl Packwood: "We will support any of the candidates who are elected by the PLP delegates."