Minister Wilson: Full Budget Statement
This past Friday [Feb 18] Minister of Economy, Trade and Industry Kim Wilson spoke at a press conference following the delivery of the 2011/12 Budget.
In the budget, the Ministry of Economy, Trade and Industry has been allocated a current account sum of $23,613,696 and capital funding of $667,000. Their budget consists of allocations for the Department of Labour and Training, the Bermuda General Post Office, Ministry Headquarters inclusive of the Work Permits business unit as well as Consumer Affairs, and grant contributions for the Bermuda Small Business Development Corporation.
The Minister’s full remarks follow below:
In the National Budget 2011-2012 the Ministry of Economy, Trade and Industry has been allocated a current account sum of $23,613,696 and capital funding of $667,000.
Our budget consists of allocations for the Department of Labour and Training, the Bermuda General Post Office, Ministry Headquarters inclusive of the Work Permits business unit as well as Consumer Affairs, and grant contributions for the Bermuda Small Business Development Corporation.
The Ministry was created to strengthen the local economy and bring a sharper focus to the connectivity between the needs of the workplace and the availability of appropriately trained resources.
During these challenging economic times our departments are committed to achieving this mandate by doing more with less. Programmes have been realigned and the Ministry team is poised to work synergistically to achieve the overall aims.
The Ministry budget is directed towards empowerment, reshaping the economy to create jobs and remove barriers for job seekers.
Entrepreneurial activity is a powerful tool in the job creation process and it is a key component in the Ministry’s overall programme. Therefore initiatives designed to turn “passion into profit” will feature heavily in the Bermuda Small Business Development Corporation’s work in the coming months.
BSBDC will regionalise its services with the launch of the two new EEZ offices in the east and west ends of the island. These offices will be co-located with the Post Office substations in an effort to maximise efficiencies. The construction work to modify the spaces will be undertaken by graduates of the incubator programme.
Despite what will appear to be a substantial reduction in the Bermuda Small Business Development Corporation’s grant, the organisation will redirect its existing assets to ensure ongoing programme delivery.
To better prepare the local workforce, the Department of Labour and Training will focus on the implementation of the workforce development initiative to achieve the one stop career centre. This initiative will require the re-organisation and relocation of the department as well as the automation of processes.
Other initiatives that the Department will realise include the evolution of the careers.gov.bm website to create the premier job search and recruitment facility in Bermuda. This website will be similar to monster.com. Employers and job seekers will use this site to interact seamlessly and students will have access to the kind of information that will help direct their choices when deciding what to study.
Notably, the Labour and Training summer student programme will be modified and 100 college students will be awarded professional development opportunities during their summer break. Indeed this represents a departure from the historical programme wherein college and high school students received summer jobs.
The Department of Consumer Affairs will continue its work to protect the rights of consumers by ensuring a fair and equitable market, fair trade practices, product safety and redress.
And finally, the Bermuda Post Office will focus on streamlining its operation. Its focus will be the development and implementation of new revenue generating initiatives as it comes to terms with the ongoing reduction in mail volumes.
The trend over the past few years has been a reduction of approximately 1 million pieces of mail per year; this of course is reflected in a reduction of stamp revenue. So the Post Office will reinvent itself, adding new features to its RPost product, which is a secure email product. The new features are specific to the residential market and blackberries.
Also anticipated is a new US Shipping Address product. This product is designed for persons who shop online and need to get their merchandise back to Bermuda.
There is little doubt that reshaping Bermuda’s economy rests on our ability to be innovative.
The Ministry of Economy, Trade and Industry has made several programme changes, including, the evolution of the summer student programme and the closure of seasonal sub post offices, specifically Bailey’s Bay, however we pledge to improve our client services in the areas that matter most to the people of Bermuda. Right now our focus is training, retraining, securing employment and building businesses for those Bermudians who need our support.
We have much work to do and we encourage the continued support of our stakeholders. Ours is a mandate dependent upon collective responsibility.
Thank-you.
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“And finally, the Bermuda Post Office will focus on streamlining its operation. Its focus will be the development and implementation of new revenue generating initiatives as it comes to terms with the ongoing reduction in mail volumes.”
Such as?
“Also anticipated is a new US Shipping Address product. This product is designed for persons who shop online and need to get their merchandise back to Bermuda.”
Surprised the Government is dedicating taxpayer resources towards the provision of a service already offered by the private sector. Given how inefficient the mail service is currently, should the electorate be expected to underwrite this because it will be virtually impossible for the Government (especially the BPO) to break even on such an endeavour?
Good lawd, what rock has the post office been under? This thought is wayyyy too late well after the curve. The GPO should have been up there with the wave with the advent of internet cafes even before Logic etc. This US shipping address notion would have been a natural add-on product– at least eight years ago.
How about trimming the sails to suit the wind? The GPO volume is way down. First came the fax machine. Now it is email & any number of other methods of communications. Get rid of surplus staff. Since when has Government done anything that can compete with private enterprise for efficiency. Why should the private couriers pay taxes which are used by Government to subsidise a servce to compete against them?
This is just a ‘make work’ excercise in an effort to keep the inefficient employed.
Kim Wilson is hot!