OBA Respond: Government’s Pay Offer
At the press conference held last week, BIU President Chris Furbert spoke on the details of the offer that the Premier and Finance Minister Paula Cox had made to BIU members at the earlier meeting at the Heritage Worship Centre.
He said that the Finance Minister had suggested that all Government workers should accept an 8 percent pay cut. But, at the same time, all Government workers should also not pay the 8 percent contribution to the Superannuation Fund.
In addition, Government would not pay its 8 percent into the Superannuation Fund; and that this dual arrangement should last for one year. As a result, workers would have to accept a small reduction in their pension when they finally began collecting it.
This would mean that even after the 8 percent, the cash income to Government workers would be substantially the same.
Mr Furbert also said that the Government offer said that there would be no layoffs or redundancies for the next twelve months, but that this would apply only to all fulltime employees.
Mr Furbert indicated that in an earlier meeting between Union Chiefs and the Premier, the Union Chiefs had raised the matter of Government Ministers taking pay cuts. He said that the Premier’s response was that she was prepared to look at pay reductions for Ministers and Parliamentarians.
Mr Furbert also indicated that this is an offer by Government and that it needed to be discussed and agreed (or modified) by the BIU’s general membership. He said that the Government offer would be discussed further. He said that there would be a meeting of all nine Unions next week Wednesday and that this matter would also be discussed then.
Opposition Leader Craig Cannonier responded saying, “The Premier and her Cabinet colleagues have been asking workers to sacrifice for the difficulties with the Island’s finances.
“They have instituted overtime bans, reduced pay, curtailed public services, shut down funding to charities and been slow to pay people. Now they are asking workers to take an 8% pay cut.
“The One Bermuda Alliance would be less troubled by this latest turn if the Government itself exhibited a degree of solidarity with the working population. Instead, it has repeatedly passed on opportunities to lead by example and cut their own pay.
“The OBA is at a loss to understand this failure of leadership. The people of Bermuda would be much more ready to work with government if the Premier and her ministers demonstrated the spirit of shared sacrifice. A ten percent pay cut for ministers would be a convincing step to assure Bermudians their government stands with them in tough times.
“A few months ago, the Premier rejected our proposal that ministers take a 10% pay cut, declaring it would be “an empty gesture.” This weekend’s press reported the issue back in play, with the Premier not yet willing to lead by example. It would be interesting to hear if all her Cabinet colleagues are equally reluctant to stand with the people in shared sacrifice.
“As her Government continues to come after taxpayer money to shore up its financial position, people should demand that she and her ministers step to the wicket to shoulder at least some of the burden they’ve created.
“This is a great opportunity for the Premier and her colleagues to show they stand as one with working Bermudians. They should do it,” concluded Mr Cannonier
Shadow Finance Minister Bob Richards said, “The final shape of the Finance Minister/Premier’s proposal for unionized workers to take a one-year 8% pay cut in exchange for a one-year freeze on their pension contributions is not yet clear and may depend on responses this week from the BIU and BPSU.
“This initiative is driven solely by the Government’s bad fiscal situation. It is a desperate last-minute political exercise that helps the Finance Minister shuffle numbers to make her Budget look better than it is,” said Mr Richards.
“To ask for a pay cut in exchange for a pass on pension payments serves no real purpose other than to bury the hard realities of the Minister’s mishandling of the public purse.
“The Finance Minister is clearly addicted to debt. Her proposal will shift even more debt onto taxpayers. She is simply exchanging one form of debt for another at the taxpayer’s expense.
“This time, instead of financing her Cabinet’s overspending by further increasing government debt, she is effectively borrowing from the civil servants pension fund, formally known as the Public Service Superannuation Fund, to finance it and to make her budget deficit look smaller.
“The reality behind this smoke and mirrors exercise is that the Minister will further mortgage Bermuda’s future, because she knows full well that the 1981 Public Service Superannuation Act, Section 7 (6) states the following: “If at any time the Fund is insufficient to meet the payments chargeable against it the deficiency shall be made up out of the Consolidated Fund.”
“In effect, if the contribution by civil service employees is not made now, any deficiencies will have to be made up by taxpayers later. She is pushing the problem down the road for taxpayers to deal with later.
“It is also worth pointing out that this proposal is for just one year. What about next year? The problem will surely recur.
“The Minister appears to view the public pension funds as a giant piggy-bank which her government can draw from after it gets itself into a financial jam. It is not.
“This money belongs to its members, not the government. The next shoe to drop is likely to be that the Government will formally borrow even more money from public funds by way of Bermuda government bonds purchased by the public funds,” said Mr Richards.
Read More About
Category: All, Business, News, Politics
There Will be no difference made with this paycut as the ministers are currently in debt with the pensions department. They have not been paying into workers pensions as it is. They are pulling the wool over peoples eyes.
They are doing this again to benefit themselves, and sadly some of their workers just dont get it, and never will.
The problem won’t be solved until government are forced to pay into retiring peoples pension. How things operate with regular companies, is if someone turns 65 and their contributions aren’t up to date than the person cannot recieve any pension money until their contributions are paid, for government this situation is waved and it is unfair. Yes some people will have to suffer for a while but it will be a sacrifice to get things on the right track. No one will ever know any complain about their pension not being up to date if they arent informed of exactly what is going on.
Social Insurance area needs to be cleaned up and branched off as a seperate entity like the BMA.
OPEN YOUR EYES BERMUDA
as are a lot of well known firms behind in their pension payments. ridiculous! if I’m not gettin paid the money then it darn well better be going where its supposed to be!
I always thought that any company that is behind in its health, SI, or Pension contributions should:
a) not be considered for any government contracts
b) not be allowed to licence trucks and other company vehicles.
c) listed publically if more that 3 months behind so that staff and all parties concerned can be made aware of a problem before it is too late. Or at the very least make the insurers legally obliged to contact any person whho’s policy has been cancelled or become deliquent because of the employer. At the moment most companies send forms, notices and letters to the employer where they can be intercepted instead of the employees home.
Ive had a friend go to the hospital only to find out that his company had not been paying his Health Insurance for 6+ months. They were crossing their fingers hoping that nothing would happen while they tried to save money and nobody would find out. Now he is involved in a legal battle with this company to have them pay his hospital bill.
You can check to see if your social insurance contributions are up to date by checking on their website. All you ned to know is your social insurance number and date of birth.
PLP is about protecting and enriching their Elite. The PLP have out UBP’ed the UBP.
In the event the Unions don’t go for this proposal, what is the next course of action?
Reduction in workforce would be the obvious next move. Income taxation would probably be the next one after that.
Yes I know…. what I’m curious about, has the Premier said there would be workforce cuts if the Unions don’t go for the 8% pension holiday? Has SHE spoke to any alternatives?
I wouldn’t be surprised if they didn’t have any alternatives they seem to make it up as the go along.
I thought the P.L.P.’s mantra was “We won’t fire ANY Government employees.” Now it’s we won’t fire Full-time employees.
Fascinating.
Perhaps a start would be with W&E and A&F. How many mornings do we all drive by a bunch of W&E road workers or Ag and Fish guys sitting in their trucks or in the shelters waiting for the trafic to stop before they start working. If they cant work during unsafe heavy traffic hours then why the rush to have them make work so early? Im not knocking these guys as I agree that it isnt safe to be cutting trees or cutting trenches during rush hour. Im just saying that would it make more sense to reduce, hours and money during wasted non productive hours. At my job we had to make cutbacks. We all took a little less so that we could ensure that nobody was let go. By the way there are many other departments with similar issues, I only used these two as examples. Not saying they were the worst offenders or anything like that.
The OBA doesn’t need the Cog to lead by example – how about all OBA MP’s take a 20% pay cut and really put the pressure on Cog to do something? By suggesting that Ministers take a 10% pay cut, the OBA is doing the same thing as Cog – “ask someone else to take a cut, but not me”.
Ummm, I believe the OBA has already said that if elected all MPs would be taking a pay cut. The real cuts need to come in the civil service either by a severe cut in size, a cut in pay, a shorter work week or a combination of all three just as the private sector is doing.
Why do they have to wait? That’s all just lip service if you ask me. As opposition, there are few opportunities to demonstrate in a clear way that they WILL lead by example and not just talk about it like the Cog does… this is one of those opportunities… seize it and stop talking about it!!
It’s pretty sad when members of the public are demanding the opposition to lead by example. Goes to show how hungry islanders are for leadership. Can’t get it from govt…so we turn to the opposition who are NOT in power.
Triangle Drifter,
Why wait? The OBA MPs (if they were serious) could take a symbolic pay cut now.
They could donate 10% of their MP salary to charity. But, of course, they will not do this.
The OBA talks a lot, but does very little.
right cuz its the opposition’s job to lead by example! They are the ones who are making the shots and taking home the $150k + salaries per year, and who make all the legislative decisions, and drive around in the blue cars with GP 1-11 on their license plates, and get the government credit cards along with stipends while they travel first class.
get over yourself mate. its small minded thinkers like you that are contributing to the demise of our country. why dont the current government ministers take that same 10% pay cut and give it to charity, but, of course, they will not do this.
the PLP talks a lot but does very little
Its common worldwide for politicians to make promises that trump their opposition’s. i.e. “Read my lips, no new taxes” George Bush. These promises mean little to me unless I see a movement towards making them happen. Another thing politicians do is get into a childish he said, she said & they did this, they did that these don’t phase me either. Politicians with a strong following usually have the advantage of support & funds to make a difference that the average joe does not. Many of the members of OBA have this advantage. So if the milk man & his crew GOT MILK than bring it don’t talk about it. I like to sniff my milk first before drinking it because I don’t want to place my order & get sour milk for years to come.
In all fairness to George Bush he didn’t Lie when he said “read my lips, no news taxes”. He did not introduce any new taxes! He just doubled the old ones!
That’s correct bush didn’t lie in regards to not creating new taxes but I’m referring to his full speech which most know as the “read my lips, no news taxes” speech. In this speech he also said, “I’m the one who will not raise taxes. My opponent now says he’ll raise them as a last resort, or a third resort. But when a politician talks like that, you know that’s one resort he’ll be checking into. My opponent, my opponent won’t rule out raising taxes. But I will.” As you’ve mentioned he raised old taxes by double so he did lie about this part of his speech.
This what I hear when I listen to or read OBA members speeches potential lies candy coated with truths. This is worrying as I never voted PLP in the past & don’t want to at present but will have to sit on the fence as I don’t trust OBA either. If OBA put some action behind there words for the better of Bermuda regardless of them not being government I may trust them then. At the moment all OBA has produced is talk & more talk & keep milking it till the cows run dry.
The OBA are not in position to change the legislation governing Minister salaries. What they CAN do, is lead by example and have their MPs donate a small portion of their salaries to a charity or social program that recently saw reduced funding. This is something they can do prior to the election.
Years ago the then members of parliament were supposed to have portion of their salaries going to a charity of their choice…. HMMMMM – seems some chosen see themselves as charity….
Why can’t the Premier tell her peeps that they are going to receive a “Pay Freeze – effective this month immediately”…. freeze the salaries of PBSU/BIU. Like myself, you learn to adjust/sacrifice/do without and it is working, working very well…..
Pay Freeze is quite different to pay cuts & if you are comfortable with a pay freeze this means you’re getting paid a livable wage already.
This is why the U.S. economy seems to rise & falls again. Obama talked a good game but when he was elected he didn’t have the huevos to get the big money makers to take a pay cut. Sure a few hedge fund executives took a dive for the majority but this was just a puppet show. In the end the majority of executives either got a pay freeze to the massive amount they made to begin with or pay just remained the same. At the bottom & middle is where one can see the pay cuts & lay offs in America. The same is happening here & it sounds great when OBA talks about PLP ministers cutting salary but then put your money where your mouth is unless your just blowing hot air. An example of government that has done this the right way is Canada & they’re recession free.
I would just like to say just because your getting a payfreeze does not mean that your living comfortable. My husband is a part of tgd union and they get royally screwed by this government which is the supposed “labor party ” lol they are no such thing we are living paycheck to paycheck and sometimes not even making it. Grocery store prices are high gas is high housing is high. It is illogical at this time to ask people for a pay cut or freeze and let alone their pension at this state bermudians should be rioting. But when have we ever truely fought.
Here’s a thought why not raise the tuition for the college. Last I checked college was a privalege not a right maybe then they could afford to pay the teachers. There’s no reason why our college should be half price. Some teachers at the college have already gotten pay cuts without even being forewarned. This government is a disgrace.
I think you’ve misread my post. I agree with you thats why I typed if & I’m emphasizing if you are comfortable with a pay freeze this means you’re getting paid a livable wage already. It’s a response to Wandering’s statement above mine who must be getting paid a livable wage already to be alright with a pay freeze.
There’s a myth that goes around Bermuda that all who work as civil servants get paid really good wages. I know this is not true. There are also many business owners & executives in the government & private sector in Bermuda who think they are the reincarnation of Marie Antoinette going through life with a, “Let them eat cake” attitude. They have learnt zilch from the downward spiral of the other top heavy international economic systems.
You mention the R word & ask when have we ever truly fought. We have in the 70′s & if unemployment reaches an additional thousand I truly believe we will again but hope it doesn’t. I know if it does happened unless these Marie Antoinette are wealthy enough to have a private jet ready all the off island homes they have purchased will not help them any. I suggest if the plan on going on with this way of life they build a secure underground bunker because in the 70′s we didn’t have gun toting gang members & now that we do in this type of situation they will reek havoc on the wealthy areas of Bermuda.
You all are forgetting, that the UBP/OBA promised a couple of years back to donate 10% of their salaries to charities. That happened when the last salary increase was announced. How much is in that fund right now?
Probably more than in the BIU’s accounts.
LF – ask our elected leaders to lead. Stop deflecting.
The OBA didn’t exist a couple of years back.
Really!!!!!!!!!!!!
geez Laverne you don’t get tiered of trying to make the OBA the UBP? open your eyes and stop looking at party politics and make this about the issue. ALL MPs should take a cut and donate to true worthy causes like getting Bermudians back to work and developing new initiatives to keeping them there.
oh and btw has the PLP ever made any promises that they didn’t keep? hmmmmmm…
Wow, you really should stop posting and let us all ONLY THINK you don’t have a clue rather than prove it to us by writing your thoughts!
What difference does your question make?!? This problem is of the Government’s making and its responsibility!
The PLP need someone a lot smarter than you to continue to pull the wool over my eyes. You are inadequate in this regard! But don’t worry, most of the PLP these days is also inadequate, you have company.
Small proplem with your statement…the OBA only formed in May 2011 which would be less than one year ago. If you want to know what some of those UBP members did or didnt do just look within the PLP, many of them including a former leader are now actaullly part of the PLP.
I’m glad I’m not the only one who remembers this. As I can recall, UBP MP’s said they were going to do this, and I don’t recall ever hearing any more about it. I think the OBA should put its money where its mouth is and take a paycut to show they emphathize with the public and that they care about the finances of Bermuda. As it is, they are getting a hell of a lot of money just to show up in the House for a few hours each week.
As for this cut in the Civil Service, they need to chop at the top but leave the little man in the C.S alone! The public picks on civil servants and takes out their anger with Gov’t on them. These are hard working men and women with rent and mortgages to pay and kids to feed. They have no say in how Gov’t spends its money so why so much venom directed towards them?
Not everyone in the C.S is a permanent secretary, you know. There are lots of ‘little people’ in clerical positions who work hard and after deductions aren’t bringing home that much. I don’t have kids on my insurance as my kids are grown, but I have a colleague who does and after all her deductions takes home just over $500 a week. After deductions I take home just over $800 a week which may sound like a lot to someone who is making way less, but after monthly expenses really is not. I can’t say when is the last time I’ve taken a trip or ate out. Meanwhile, the head honchos in my department are bringing home like $11,000 net a month. I know for a fact they’re living high on the hog. Some have spouses with high salaries working in the Civil Service as well. Those are the ones who can afford a cut in their salary. People like me and especially my fellow clerical staff with little kids can’t afford it.
Why should we suffer because this Gov’t went buck wild with the public purse? We lowly civil servants have NO say in this-we just stand by shaking our heads at the mismanagement as well. Paula and Co. messed up and then have the nerve to come after us? People honestly think that is right or fair? I can say that things are going to get really ugly at the rate we’re going-and I don’t just mean with the C.S. People are just frustrated and the one we should be turning to-the Government-is letting us down with their inept financial conduct. Things have never been this bad in Bermuda. The PLP needs to go and the OBA need to prove that they are sincere and have our best interests at heart. Even if they get in, the journey isn’t over and if they don’t deliver, what next? Can we afford rioting in the streets, Bermuda???
Clearly there are many hard working and productive members of the civil service. But I don’t know any who don’t shake their heads as you do at the incompetence and waste of senior civil servants but also acknowledge that the civil service as a whole is severely bloated with staff, programs and general fat. Hard working high achievers always notice and are demotivated by co-worker underperformance. Maybe if the civil service was shrunk by at least 10% each year for 10 years we could afford to recruit and retain the real performers properly. The rioting in the streets argument is a serious one but I suspect that most middle to top ranking civil servants wouldn’t want to dirty their fancy clothes in a protest march let alone risk their shiny cars and multimillion dollar properties in a riot. They might need to sell their Hondas, cut back on their vacations and maybe swallow their pride and get a $60k secretarial or clerical job at an insurance company. Keeping under-skilled low ranking civil servants off the streets should only ever be a very short-term solution. Those people who for the most part have been let down by the public school system should be trained, encouraged and assisted to become more productive members of the private sector.
Smoke and mirrors, indeed. For a so-called Labour Party, this Government sounds more and more like the US Republicans who, despite being the richest/best paid don’t want to give up even a modicum of their wealth. Fairness and the welfare of the country and its people count for nothing in the face of their grasping desire to hold on to everything they have.
“BOB KNOWS BEST”. Go ahead PLP keep going on without listening to Bob.
Bob you are the MAN! PLP needs you for direction cuz Paula aint got a clue.
Paula will go down as the worst premier ever in bermuda….
The definition of chutzpah;
The Premier clambers out of chauffeur driven BMS Series 7 limo and says she will “look at” taking something of a pay cut herself while asking all government workers to take an 8% paycut and government will withhold another 8% from their pensions while members will lose a year’s service credit.
All so that the government members can continue their own travels to various conferences and meetings in nice sunny climates and rest their tired heads on luxuriantly fluffy pillows.
And the sloping head brigade will think “Hey, not a bad deal. Half a loaf’s better than none at all.”
How often is the Government’s Media room used – they can use that to have video conference calls, etc….. no need to travel first class or stay at 5 star hotels and no need for no entourage – only need would be coffee, water, tea, juices, snacks or bring your own nibbles…..
I think their plan has backfired and can’t figure out how to stop it – Well folks it is time to turn the key – talkign about slaves/bondage…. what are they doing to us – financial bondage, housing bondage, and the list goes on….
Turn the key – take the shackles off
Why not any layoffs or redunancies? We all know that the civil service is inflated in empoloyment and doesn’t offer the standard of services that should be expected given the amount of personnel.
A major problem with the civil service is that job competition is not welcomed and most full-time employees have no incentive to overachieve because it is not expected nor are there any performance targets.
Can someone explain this tenuring culture in the civil service? Why is it that underqualified employees get so much job security?
VOTES nuff said……………
LOL
So you rather see layoffs or redundancies of civil servants? If this happened it would result in trash not getting picked up & streets not being paved or swept. I’m sure the tourist would really love Bermuda then.
We did just fine 10+ years ago with trash pick ups one day a week. It really wasnt that big of a deal. The savings on fuel, and wear and tear on machinery alone would be noticeable.
10+ years ago the population density was less in Bermuda so one day of trash collection would suffice. With the increased population density of a couple of thousand at present their are more households with more trash & an extra day is needed.
The results of less civil servants can already be seen in public transportation here. People who catch the bus have to deal with the inconsistency of the schedule & frequent breakdowns because bus mechanic layoffs. Also due to this children are getting to class an hour late which is causing further declines in Bermudian education. What we really need especially in the summer is more bus mechanics & drivers & busses that run every 15 minutes not every 30 minutes or every hour.
Layoffs of a few civil servants will result in a few less files getting handed around while people ‘look busy’. The civil service has grown from about 4,500 to about 6,500 in the past 10 years. In the Minsirty of Education there are 1,200 people. 500 are teachers and 700 are civil servants admin people. Bloated, inefficient, and costly.
This offer will seriously established the government pension. It is grossly irresponsible.
To get the Premier and the PLP out of this mess, she should call an election before the presentation of the budget!!
We seem to be missing something here, when you stop contributing to the pension fund which in most cases they use the marketplace to increase the value of the fund. Then you will receive a lot less then the 16% that is invested for the worker. This could with the current projections mean that the lost could be 32% of the present investment for the year not 16% this is just food for thought.
Can’t you all see Paula Cox knows you all are gonna kick hell about the pay cut so when the dust settles she will find another way of getting the money and it will be with the idiots we have for politicians who are gonna vote on some other form of increase she is just play you..
“Mr Furbert indicated that in an earlier meeting between Union Chiefs and the Premier, the Union Chiefs had raised the matter of Government Ministers taking pay cuts. He said that the Premier’s response was that she was prepared to look at pay reductions for Ministers and Parliamentarians.”
Bernews, I think you have the above statement wrong. The “earlier meeting” that Mr. Furbert was referring was the meeting with all BIU Government workers at which the Premier was in attendance. It was at that meeting that a BIU member raised issue of Government Ministers taking pay cuts. Mr. Furbert said that the Premier stated that she could not speak for Members of the Cabinet as the matter had not been discussed, however she indicated that she herself would be prepared to take a pay cut.
Also, Mr. Furbert would never refer to the BIU Expecutive or the BPSU Executive as “Union Chiefs”.
Laverne, was that when the Premier said she would take 1% pay cut or was it 2%.. either way…. The Premier should be cutting back on hers and everybody elses salaries by 10%…. be a Leader not a schemer….
It seems odd to me that people are accepting this as an 8% pay cut. It is a 14.8% pay cut to peoples remuneration.
Your base salary is $100, $8 of this is “saved” into your pension. Your employer then provides a benefit of $8 to be “saved” to your pension as well. All in all you receive $108 (your base salary + the pension benefit). But now you are less $16 of your $108: 16/108 = %14.8 reduction in paid salary.
Vote yes if you like, but realise that you are taking a 14.8% hit – not an 8% hit – to your salary. Keep in mind that this will reduce your pension payout and that the cost of living is forever rising in Bermuda.
Not to mention that now is the time to increase your pension contribution. Now markets/stocks are relatively low. Your $16 will by you more shares in your pension accounts since the prices are lower. As markets rebound you will make more money since your pension bought low. If you stop buying now you’ll pay more for less shares in a years time; having missed the opportunity to buy low.
I would counter the Government offer with some solution that continues to contribute to your pension. Perhaps, let Government stop its 8% while you continue your 8% or Government 4% and you 4% or something like this.
Personally, I am increasing my pension contributions this year. Ideally, I should have done this a couple of years ago. Take the above as you will but keep it in mind.
Ride
I agree with you and hope that those affected by this will look at the REAL % that they will lose. Why can’t the government be upfront and honest about the numbers.
I forgot to mention that this deal implies that you will pay payroll tax on your full pay packet and not on the reduced pay packet proposed.
Your take home pay is after deductions. A big one of these deductions is payroll tax with is based on the gross pay packet (base salary + benefits). If you remove some of the benefits and some of the base salary as is proposed by the Government’s offer then you should pay less payroll tax. This means one of the deductions coming out of your salary should decrease, giving you more take home pay then you currently have.
It appears, from the public information available in the deal, that Government is removing $16 of your $108 but still taxing you as if you are earning the $108 instead of $94.
People, there is an armada or Detail Devils in this offer. Be aware.
Ride
As Bob Richards rightly says, the final shape of the deal is not clear.
To me, it appears a complete sham. A pyramid scheme (not surprising, given some of the people involved).
Cox says to the union – take an 8% ‘pay cut’ (wink wink) and at the same time we will let you stop making the 8% pension contribution. So you take home about the same.
Union asks: But Premier, won’t that affect our pension (wink wink)?
Cox: No, of course not. You’re on a defined benefit plan. It doesn’t matter if there’s nothing at all in the pension fund in 25 years. You get 2/3 of your final salary whether you make contributions or not. It’s all a sham to make it look like we’re doing something. Play along with us.
It’s a pyramid scheme. It doesn’t add up. It’s another way of making sure our children’s and grandchildren’s lives will be miserable when they pay for this mess.
This country is going down fast… I feel so sorry for us. Better recognize!
Big government doesn’t work. Taxing productive members of society to give a bloated bureaucratic and political class (GP1-****- “Respice Finem”) truck-loads of hard earned cash to waste on idiotic tourism, public works and subsidy programs is utter madness. Unscrupluous businessmen gobble up these greedy and/or foolish public sector employees for breakfast. We don’t have any income or capital gains tax but we do have an enormous tax drain for a small country with hardly any natural resources and almost total reliance upon a single economic pillar. Let’s not pretend that pillar is an industry or that our secret ingredient has been anything other than relative geographical convenience and a once friendly populace. We simply host (offices, houses, hotels) billion dollar insurance and hedge fund executives. Ironically, they are tax refugees fleeing countries with even higher taxes than ours. But we don’t even have any wars or space programs, national science r&d or even universities as an excuse for our high taxes. Almost all of our tax is paid, directly or indirectly, by those few insurance and fund management companies that employ people, rent offices and pay for goods and services here in Bermuda. And almost all of that tax is spent employing under-skilled Bermudian civil servants and politicians to keep off the streets while perpetuating the cycle of low standards and waste. Easy come easy go. Quo fata ferunt.
The sad part about it all is the fact that if the OBA become the next Government, they will have to make cuts in order to straighten this financial mess the PLP and its cronies have gotten use into. These cuts may not go well with the public. But may be necessary in the short term.
I heard when the Premier said that she was willing to take a pay cut and that she will discuss a pay cut for all Ministers, but why did it need to be bought up by Civil Servants, for her to even suggest the thought??? When a pay cut for government workers was discussed by the Ministers, they should have discussed a pay cut for themselves as well!!!!!!!
Taking from the pension purse is the proverbial “taking from Peter to pay Paul”…what happens to those already struggling seniors who currently benefit from the 16% that goes into the pension fund every month? no it may not hurt me (who is a current gov worker) right now, but I know that it will hurt my father who is a gov pension receiver!!!!!
There is no forward thinking with either PLP or OBA they both talk without discussing or considering the BIG and FUTURE PICTURE. What will happen 1, 5, 10, 20 or even 50 years from now??? yes in 50 years they will more likely have passed away and in 5 years they won;t be in the same positions they are in today, but as the heads of this country they NEED to put it all into consideration and perspective!!!!!