A figure of more than $2 million as the annual cost of full membership in the Caribbean Community is not an accurate portrayal of the cost, MPs heard in the House of Assembly yesterday.

Alexa Lightbourne, the Minister of Home Affairs, said the $2.28 million figure that has been widely circulated was the amount Bermuda would pay if it adopted all conditions of membership of the regional trade bloc.

She said it was a misleading cost and only reflected a theoretical maximum associated with full participation in all elements of the Treaty of Chaguaramas.

Ms Lightbourne told the House that this was not the arrangement Bermuda is pursuing, and that Bermuda’s contribution will be determined through negotiated terms.

Public consultation on the Caricom Green Paper ends tomorrow, with any remaining feedback to be sent to togetherforcaricom.gov.bm.

Ms Lightbourne said feedback from the public, the Legal Affairs Committee and the UK would be reviewed, with her ministry preparing a White Paper next laying out “the Government’s settled position”.

Final terms are subject to negotiation with Caricom and the agreement of all full members as well as Britain.

Ms Lightbourne said “fearmongering” had surfaced on the issue that “free movement will overwhelm us”, that the single market would compromise the island’s economy and full membership would “erode our sovereignty and shake our constitutional order”.

She added: “None of those claims withstands the Green Paper. None of those claims withstands the record of associate membership.

“They are the same warnings, dressed in new language, that have been used in this country before to keep Bermuda separate from her natural family.

“This Government refuses to govern by inherited fear. We respect every honest concern, and we will answer every honest question. But we will not let an old posture decide a new generation’s future.”

Ms Lightbourne reiterated that Bermuda would retain full control of its borders and work permit system under full membership, and would not adopt free movement under the single market, under its “settled negotiating position”.

She dismissed questions from the Opposition about the island putting the matter to a referendum.