'Mr Chairman, there are foreigners coming into this country with nothing in their pockets,' he said in his official address on the budget. 'Like parasites, they are sucking the small facilities that are available in our banks and resources for themselves. I appeal to government and to government institutions to please get our act right.'

In his first speech since his enforced departure from government, Mr George also criticised the Development Investment Bank and the Bank of the Cook Islands, saying that they are failing the people, and living 'in Disneyland'. 'With friends like these two institutions, who needs enemies,' he observed wryly.

He then went on to suggest the establishment of a Society for the Promotion and Encouragement of Cook Islanders in Business (SPECIB), which would seek to have a representative at both the DIB and the BCI, and would counterbalance what he sees as the prejudice inherent in these two institutions.

However, the DBI was far from amused by Mr George's comments, and referred to his statements as uninformed and misleading. 'DIB is a one-stop shop for the facilitation, approval and promotion of foreign investments and to provide incentives and concessions for Cook Islanders to establish and expand businesses in the Cook Islands,' it responded. 'Mr George proposes setting up a society to do what DIB and the Small Business Enterprise Centre already do.'