It promises to be one of Bermuda's most memorable political comebacks.

When Government backbencher the Hon. John Stubbs returns to Parliament for today's Budget debate he is likely to receive a hero's welcome.

For once colleagues and foes will be happy to step from the spotlight, as the political veteran makes his grand re-entry in a wheelchair.

But the 60-year-old, recovering from a cancer operation, will be relying on a helping hand from friends for there is no way he will be able to manoeuvre his chair up the stairs to the chamber.

Once inside, however, the ex-Cabinet Minister promises a powerful return to the political fray.

"I will be speaking with considerable vehemence,'' he said yesterday from his hospital bed.

Among the Budget measures which have captured his imagination is the Sinking Fund.

"I think it is the harbinger of good times, and should stand us in good stead in the future.'' Dr. Stubbs, who will wheel himself into the House at about 2.30 p.m., also plans to speak on race relations, and the over-development of Bermuda.

"I honestly feel these are two of the most important issues facing Bermuda now. I would like to touch on them.'' Dr. Stubbs' contribution is unlikely to draw fire from the Progressive Labour Party.

The PLP are expected to try to pick holes in the 1993-94 Budget, which they have labelled an election manifesto.

Shadow Minister Mr. Eugene Cox said yesterday the Budget did not go far enough to pull Bermuda out of recession and back to work.

"Government's policy seems to be no new taxes, but the economy needs more than that,'' he said.

Mr. Cox said the PLP focus would also be on the need for training and improved education.

With the Country hit by high levels of unemployment, the need for action was great.

The PLP is also likely to poke fun at Government for "stealing'' Opposition policies. He said Government had quite shamelessly plundered parts of the PLP manifesto.

"It seems like they are stealing the emperor's clothes,'' he laughed.

Meanwhile, the National Liberal Party gave their first reaction to Finance Minister the Hon. David Saul's proposals.

"As there is little substance one can anticipate a snap election immediately the Budget is passed,'' said NLP economic spokesman Mr. Geoff Parker.

Mr. Parker went on to call for the Budget Statement to be replaced with a consolidated statement of accounts which would give a clearer picture on Bermuda's financial health.

As for the proposed cuts in Government spending, Dr. Saul had no choice, said Mr. Parker.

"The fact still remains that the cuts are not deep enough and should have been implemented three years ago.'' He added the NLP also supported extra saving by consolidating the 12 Government ministries into seven.

This would save over $30 million, and boost efficiency and productivity.

But Mr. Parker said the most worrying part of the Budget was the small amount apportioned to tourism.

"Government continues to talk and give lip service to tourism but this is not backed up with the numbers.

"In fact the amount allocated this year is less than last year.'' Mr. Parker urged Government to sweep away hospital levy and employment tax, and replace them with a payroll tax on a sliding scale.

"We would suggest the first $100,000 of payroll be tax-free and that a scale be determined progressively in the same way as the Land Tax sliding scale.''