Video: Minister On Space & Sea Assets

February 24, 2012

[Updated with video] Bermuda space and seabed assets could be used to raise revenue Minister of Government Estates and Information Services Michael Scott said today [Feb.24] at the post-budget press conference.

“The country assets are vast and varied, when I was Minister of Telecommunications you will know of the potential connected with the exploitation of Bermuda space assets including orbital slots that remain available for economic exploitation within the satellite industry,” said Minister Scott.

“Now under my current responsibilities for lands commercial and residential buildings the seabed and wealth under the seabed of Bermuda in the form of precious metal or mineral deposits one can easily recognize the expanded compliment of government assets.”

The Minister’s full statement follows below:

Consistent with the Budget Brand for the 2012 2013 Budget “Let Us Build One Another Together I am pleased and excited to confirm that as Minister of Government Estates and Information Services our continuing plan to deploy the considerable assets and the human capital of the ministry to meet two overarching goals of the Government, firstly the promotion of social cohesion in our community and the second that of raising revenues for the Government coffers.

Under the social cohesion aims I wish to update you on the CISCO Academy progress, and to confirm our readiness to launch the CISCO Academy in June, the important news is that the funding for the designated Instructor to deliver the training to Bermuda entrants is falling into place in a partnership between private sector partners and the Government.

Closely aligned with the CISCO Academy a wonderful IT project to deliver training for entrants who will emerge with CISCO certifications including CCNA Certification.

The other is an add on initiative to CISCO namely to carry out structural upgrades at the Prospect Depot‘s trades sections including plumbing carpenters electrical shops that will enhance the Prospect Government Depot’s ability to offer apprenticeships to young apprentices through Depot craftsmen and tradesmen.

Both the CISCO Academy and the Prospect Depot Apprenticeship Initiatives fit neatly into and align with the Ministry of Education’s Career Paths program and the Ministry of Economy Trade and Industry’s National Training Board Programs.

The Second overarching aim of revenue raising initiatives is also important. The country assets are vast and varied, when I was Minister of Telecommunications you will know of the potential connected with the exploitation of Bermuda space assets including orbital slots that remain available for economic exploitation within the satellite industry.

Now under my current responsibilities for lands commercial and residential buildings the seabed and wealth under the seabed of Bermuda in the form of precious metal or mineral deposits one can easily recognize the expanded compliment of government assets.

Assets deployed by way of leasehold for development or exploitation can realize revenues in the form of fees and ROI, in the long term. Sale of properties excess to needs of the Government we anticipate will raise substantial sums for the Government coffers.

In summary it is these two initiatives when strategically deployed will support the social cohesion objectives of Government and to assist in the revenue raising needs of the Government of Bermuda.

Thank you.

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Category: All, Environment, News, Politics, Videos

Comments (3)

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  1. black seal says:

    the sea bed is one of the wanders of bermuda and the plp is willing to sell it off so the can sort out the mess they have put us in, they would sell off their own mothers if they thought they could make some money

  2. see da roots says:

    i hear they have slashed local marine science funding too – so no one will know the difference… until later when there are no fish to eat and the beaches wash away, of course

  3. jim says:

    When a smart, thoughtful and honest person like Michael Scott starts talking about leasing the “seabed and wealth under the seabed of Bermuda in the form of precious metal or mineral deposits” as a means of raising revenue for this gov’t it’s clear just how desperate Bermuda’s financial situation has become.