PLP, Bob Richards & Cayman Term Limits
The PLP has hit back at Shadow Finance Minister Bob Richards and the OBA after a recent study done in the Cayman Islands indicated that their term limit policy is not one of the top four factors limiting business growth.
The recently completed report by the Cayman Term Limit Review Committee about the seven-year term limits said the cost of doing business was rated as the top limiting factor among the 97 responses from local businesses received in the committee’s survey conducted in late 2011.
A chart extracted from the Cayman report is below:
The report indicated the most important factors which affected the 97 businesses decision to operate in the Cayman included the cost of doing business [92.3%], global economic conditions [87.3%], reputation of the Cayman Islands [86.7%%], cost of work permits [85.5%], term limits [81.2%], cost of Government fees [80.4%], security [72.4%] and challenges in obtaining “key” employee status [72%].
The Cayman media reports that, “The Term Limit Review Committee’s overall report did not recommend abolishing the term limit, often referred to as the “rollover policy”, altogether.
“The government-appointed group instead recommended that the term be extended from the current seven years to 10 years. None of the recommendations contained in the document have yet been accepted by Cabinet.”
The PLP took note of the report saying, “The Cayman Islands came out with a comprehensive study that said that the OBA’s only idea for the Bermuda economy was not one of the four reasons for their islands’ recent loss of business.”
“The OBA’s only idea for the Bermuda economy is to implement something that a Cayman study rejected. The OBA offer a lot of attacks and bluster, but only offers unworkable and unrealistic and recycled UBP plans.
“The report also laid to waste the OBA’s ridiculous argument that the Bermuda government and not the global recession is primarily responsible for the loss of business in Bermuda. ”The Cayman Islands have rejected Bob Richards’ bad idea of ending Term Limits; and soon the Bermudian voter will also have their chance to reject the OBA plan for Bermudians,” the PLP said.
Yesterday an ad relating to the matter appeared on the social network Facebook. While not officially confirmed who posted the ad [pictured above left], it linked to the PLP’s blog post on the matter, and had a photo of Mr Richards saying “He called Bermuda a banana republic. He praised Cayman. Now, Cayman says he is wrong.”
The full 105-page Cayman report is below [PDF here], click ‘Fullscreen’ for greater clarity:
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Termi limits have been a disaster for Bermuda. An idiotic and I’ll conceived idea from the morons who brought us land licenses.
Disaster for who, not Bermudians.
Immigration may be a disaster, but not term limits.
Well when you put restrictions on what companies need, they usually find a way around it, like they have in the past. So now companies are hiring Bermudians for 6 months and making them redundant so they can keep their foreign workers…is that good for Bermudians?
Also, FYI, UBP brought you land licences.
Really? So as an SOB I had to have license under the UBP? That’s a bit revisionist isn’t it.
I am a little perplexed as to how the UBP initiated land licenses in 2007?
What???? Ahh no, not true….and even if they did, the PLP was voted in to make changes. You remember don’t you “MAKE IT HAPPEN – VOTE PLP” I just assumed they would have made better choices for a better Bermuda, and not good for a select few. I don’t care how much of a PLP SUPPORTER anyone is that is reading this (and I was one of them up to the Brown- “we had to decieve you” ERA) – we are in self induced ECONOMIC DISASTER! Bermuda is NOT BETTER BECAUSE OF THE PLP! What did they make better and what is worse post UBP?
Transporataion? Cant Get any Worse
Health? Worse
TCD? Better
Education? Worse
Crime? Worse
International Business? Worse
Taxes – Duty? Higher = worse
Crime – Worse
Cost of Living – Worse
Standard of Living (If you aren’t in Government) – worse
Industrial Relations – worse
The sad thing is I think that we would be in a bigger mess if Paula Cox had not stepped up to the plate. Now there are rumblings that her seat might be contested? How may PLP Premiers would that make now 6, in 12 years?
Bob Richards is clueless. What is interesting is he says Bermuda should follow Cayman and suspend term limits. But Bob knows the Bermuda and Cayman are different, and the reason they needed to suspend term limits is because Cayman’s rules are different that ours don’t allow the Minister to have discretion.
But what is funniest, is the same people who say we should follow has said they don’t agree with him, and their policy will stay.
This guy needs to come up with some new ideas.
This would be the same Bob Richards who told Cog and her mouthbreathing colleagues that the recession was coming and that they needed to prepare. Or the same Bob Richardsvwho has repeatedly pointed out overspending and poor controls (along with two Auditor Generals).
The clueless ones appear to be in cabinet.
Dude,
Lets get the facts straight. Bob Richards didn’t predict a global meltdown, so lets not re-write history.
Bob Richards doesn’t need to point out overspending, the PLP have put in so many controls in spending they can’t even get tyres in time. We have a system of government that doesn’t require and opposition to point out overspending, we have an auditor general, internal audit, procurement and everything else.
It is clueless however to say that immigration policies caused a global financial meltdown.
No one ever said that. The point, in this case, that you fail to grasp is that in a very tough economy (where much of the pain is direct result of the idiots) we need to be as welcoming and engaging as we can to potential investors. Term limits are part of the mix of brainless schemes that appeal to their dumber than dumb electorate.
I see in the daily they’re off to borrow more money to service the existing debt. Twats.
Actually, Ole Bobby did say on numerous occasions that the PLP is the sole reason for our financial troubles and tha tthe world economic crisis has nothing to do with it.
Is that what he said? Is it really? I’m pretty sure he said harships are coming and a lot of our mess that we are in could have been avoided. For instance, a certain donation from the ministry of tourism to the playboy mansion. I’m pretty sure that money could have found a better home. Its rather sad when intelligence and common sense are blinded by a misguided hatred for anyone that doesn’t look like you.
“But what is funniest, is the same people who say we should follow has said they don’t agree with him, and their policy will stay.”
Actually what they said is that their term limit policy should be modified… along with their long term residency policy. To assist companies in keeping “good” staff.
I agree, he needs to come up with some ideas…cause we cant take another 5 years of this mess?
We have fewer people contributing to the economy. Whichever way you look at that, it hurts Bermudians the most.
They will never see it that way, sad really.
Don’t confuse the issue. Term limits doesn’t mean you kick people out of the country. I think that everyone is aware that the more people in the economy, more economic activity better for everyone including Bermudians. However, you then must ask yourself where is the balance.
Bermuda is not Cayman which has umpteen acres of excess land and has a much smaller indigenous population. I think everyone is aware that you need people in a country to generate foreign exchange, but this shouldn’t be at the expense of Bermudians.
What? What it actually means is that Bermuda is closed for business. That’s the message it sends. Don’t come here, we don’t want or need you.
Work Permits have increased under the PLP, so message not received.
There are up to 300 more net contributors to the economy leaving this summer – as soon as the school year finishes.
You should stick to facts. We have fewer people this year than we did 2/3 years ago, but that is the same for EVERY COUNTRY in the world.
To say that is because of term limits is to say that term limits caused the global recession and that it not the case.
Granted, I’ve heard some stories of DUMB decisions at immigration which have caused business to have to appeal to the minister (shouldn’t have to happen), but to blame term limits for a crap global financial system is disingenuous. Also you have to remember that Cayman and Bermuda are different, in Bermuda the minister has discretion, in cayman, the law said 7 years and you are out (no exceptions) so we’re not dealing with the same animal.
I think we can both agree that Term Limits is not the issue, the issue is that the business model in insurance has changed.
Personally I think crime and quality of life is more important than term limits, as they don’t really apply to the jobmakers and high level employees in our international business sector.
“We have fewer people this year than we did 2/3 years ago, but that is the same for EVERY COUNTRY in the world.”
I would have continued reading were it not for the fact I became immediately alarmed that more than 4 billion people seem to have disappeared from the face of the earth based on your remark above. Where did they all go?
I was gonna ask the same thing, I haven’t heard of any serious cases of spontanious combustion recently…
Allow me to help you out. Fewer people working than we did 2/3 years ago, but that is the same for EVERY Country in the world. (That has wages above $2 an hour mind you).
My point is that there are less JOBS due to the global meltdown, and that unemployment rates are up around the globe.
Dumb, Dumber, Dumbest: LMAWTFO, Sooo and Funny.
You lot are so thick, you will never understand business and finance. So stop trying to sound intelligent. You’re not.
Bob has a couple degrees and plenty of experience, so I would believe Mr Richards before the Three Blind Mice. Any day.
First off your logic is flawed. No one has ever said (besides PLP supporters) that term limits caused the global recession. What has been said is that the spending habbits of the PLP Government has made the recession wrose in Bermuda. Bob is on record saying in 2003 that he believed hard times were coming and that the PLP should stop splurging with little return I might add. Normally I respect Craig Simmons when he speaks about economics (after all he taught economics to me)But I do not agree that Bob predicted the global recession but pointed to factors that pointed to trends that could cause a recession. This also means that he did not predict the magnatude of the recession either just that he felt the factors were in place of one. Term Limits have made it hard for IB to keep people here that did not need training and had the expertise to hit the ground run, something needed in this economy. Although I also think that Bermudians should be trained for good IB jobs we need a certin skill set or a good foundation from school first. As far as the trade industries I’m all for term limits. Who better than us knows how to build our block houses and buildings. These jobs should never have fallen into the guest workers hands. A balance must be met is that happening? Doesn’t look like it to me.
LOL
I agree.
Nothing new. Been saying ole Bobby has no clue to what he is talking about since early last year.
What results are you seeing from the finance minister/PLP that suggests they know what they are talking about?
I see exactly what you are trying to say, and I actually agree with you. However, you have got to admit that Bob Richards is a blank. I mean come on, just really listen to what he says.
And the plp have a clue? Even if they had scooby doo as a minister I think not.
haaaaaaaaaaaaaa…….I never said the PLP had a clue. I simply said that Bobby has no clue.
If you think that Bob Richards “has no clue,” then I am afraid to say that you have no clue either. You obviously don’t understand what Bob has been predicting all along (which all came true), or is saying now. Bob is running rings around Paula vis-a-vis finance.
We need a change.
Look man, I can admit that PLP has issues and is running the country in the groud. What I find funny is that none of the OBA supporters including you can admit that Bobby is got a couple of screws loose.
I met him in person at one of the OBA’s private functions and to this day still cannot beleive what he said. “We are in this recession because of the PLP!, Our current state has nothing to do with the global recession and to say otherwise is wrong! Its all PLPs fault!” Quoted directly from him by the way. When he said that the whole crowd moaned that he is crazy, to which point Craig told him to keep his mouth shut!
Sorry mate, I feel whare your coming from, but Bob is an idiot of capital margins!!
Looks as if we wen to the same meeting, but took different notes. Curious……………………………
Yes we need change, I agree with that. Bob on the other hand is not it Im afraid. You can’t hear it in his speeches? He fumbles over words and never fully explains what he is talking about.
Now i can agree that PLP has lost there way and is having major issues, but what baffles me is that not one of the OBA supporters can acknowledge or admit that a few of their party memebers have a few loose screws.
Here is the perfect example:
I was at one of those private OBA functions a few weeks ago, the ones where they try to get new supporters. Anyway, Bob was speaking, and not one person in there saw his point or agreed with him. I would say about 70% of the people there were OBA. I’ll quote him directly, “This economic crisis we are in is the fault of the PLPs. In no way does the world economic crisis have any bearing on our economy. Its PLPs fault!” That said, this man is looney tunes!! You have got to admit it, if you don’t then its obvious that you just hate PLP and want OBA in, cause logic does not govern your thought process on Bobby.
I don’t think term limits are the only fix and Bob needs to stop clinging to this issue. But it would help make Bermuda more hospitable to businesses and allow IB to see a long term future for their intellectual capital on this Island. In reality, this country needs a hotel to be build in St.Georges on that derelict site that Ewart promised would happen. Morgans point needs to break ground and the Regis in town needs to break ground. The government needs to allow Hotels the option of having Casino’s, they will not build without that revenue source on the cards. These three projects will provide construction jobs off the bat, will provide hospitality jobs in the future, will bring tourists to the Island and will bring tax $$$. Resorts and hotels attract tourists. The cost of Bermuda is high but there is no reason why we cannot support high end tourism if we work on the product and invest in that area.
The PLP have flopped in that department. The amount they spent on the Cruise pier in dockyard should have been spent on developing the Hamilton water front rather than having car parks. Hamilton really is one of the most boring places to visit.
Why not set up an international hospitality school in Bermuda?? Where students from all over the world can come to study and support the industry?
+ Why not set up an international hospitality school in Bermuda?? Where students from all over the world can come to study and support the industry ? +
We used to have one actually ,one that’s roots dated back to the late 60′s I believe , but it was given to a big time financial supporter of the current government and he turned it into a private hotel. (With a lease that still needs to be investigated thoroughly)
No hotels will be built in Bermuda until the present government is removed. That is a FACT.
what an embarrassing response by the PLP Government ….If one looks at the Cayman survey it indicates that 65% of the respondants are Hospitality and Accounting not IB…92% say the cost of doing business is a factor and term limits increase the cost of doing business…..laughable….yes its not in the top four its only 81.2% morons….I take that back as even a moron would not be so child like
This pandering is annoying me..
http://cnsbusiness.com/content/rollover-suspension-force
Quoted from the Camyan News
“With the publication of the regulations of the amendment to the immigration law, the business community can now make applications for a temporary suspension of any worker that was facing rollover and enforced departure. Government is hoping the new term limit extension permit will avert a mass exodus of people and the subsequent negative impact on the already struggling economy that would bring. Following changes to the immigration law last month to put rollover on hold until the immigration review team comes up with a replacement for the policy, employers now have an opportunity to keep staff for two more years without applying for key status.”
Bernews article of the matter from September 2011
http://bernews.com/2011/09/cayman-intends-to-suspend-term-limits/
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Shocker Mr Richards was right in what he said…
Colour me a bit confused about how a Cayman study of only 97 of their local businesses has any bearing on the issues plaguing our international businesses. It doesn’t even have bearing on the hundreds of their international businesses. Out of hundreds of businesses operating in Cayman, the PLP considers 97 participants a comprehensive study.
Interestingly, the last part of the report as published above, highlights more than half of the businesses studied report negative impact to their operating costs, profit and productivity as a result of the term limits, yet they still think it a good idea.
It is time for both parties to start developing some constructive ideas to bring Bermuda back to the prestige as a leader for international business development that it once was. Right now the OBA has that lead as they are at least trying to address the issue, rather than sitting on it in the hopes that the economy may swing back up. However, until the OBA can show me a developed platform for addressing this issue, and not just some words, whether they get my vote is still a question unanswered.
We need to look at ways to entice business back to our shores, it provides money and jobs into EVERY sector of our economy, and if you don’t think that is true, then vote the way you have in the past and see if you still have a job.
“(The Cayman) Government is hoping the new term limit extension permit will avert a mass exodus of people and the subsequent negative impact on the already struggling economy that would bring.”
That is the crux of the matter. And the PLP cannot see that. Sad.
We need a change.
The OBA has never said terms limits were the only reason just one reason of many this is the usual spin by the usual spinners!
The Cog spinners we Bermudians are not that dumb!
I certainly hope so!
Yes we are, they’ll be back in trust me. It doesn’t matter how sh!tty you life becomes, just don’t let the “plantation owners” back in…