Richards: ‘Was On Brink Of Not Making Payroll’

October 16, 2013

_MG_0485Following a news report questioning statements made by the Premier, Finance Minister Bob Richards today [Oct 16] said the Government was “on the brink” of not being able to make payroll earlier this year.

Citing sources close to the Finance Ministry, last night ZBM reported that they said the Government did in fact have enough money to make payroll, with the sources saying the “real issue was the OBA wanted to increase the debt ceiling.”

The report also said Premier Craig Cannonier’s statement about 7,000 people leaving Bermuda is “under scrutiny”. The broadcaster noted that they approached the Premier’s Press Secretary for an explanation of the figures, but had not received a formal response by news time.

Minister Richards said, “The Premier in his interview spoke the truth – in February of this year the Government of Bermuda was indeed on the brink of not being able to make the month end payroll. I said it in Parliament and stood before you at the time to reiterate the same.

“The issue wasn’t whether the government had lines of credit available to it at the time; the issue was whether the government had the legal authority from Parliament to access those lines of credit.

“If accessing those lines at that time meant that the total public debt exceeded that authorized by Parliament then those lines were, in fact, not legally available.”

The Minister said this is why they increased the debt ceiling to $2.5 billion in February, saying that it “came into immediate effect the moment it was laid in the House, therefore we were able to access those bank lines and make the February month-end payroll.”

“Without those emergency measures government would not have been able to make that payroll,” said Minister Richards.

The Minister also referenced the island’s reduction in population, and said it has made it “difficult to restart economic growth.”

“It is virtually impossible to get GDP growth with a shrinking population. Anyone who doesn’t believe that needs to pick up an ECON 101 textbook and get a grip on reality,” said Minister Richards.

Minister Richards’ full statement follows below:

This government believes in the vital role of the fifth estate as it relates to the proper functioning of democracy. However, with privilege come responsibility.

I was quite disturbed to see on TV 9 news last night the veracity of statements made by the Premier undermined by “shadowy anonymous sources.”

While it is undeniably the role and right of the fifth estate (the press) to question and probe for the truth, it is not acceptable to undermine the credibility of the Premier of this country unless those sources are clearly unimpeachable; and how can they be unimpeachable if they are anonymous.

Furthermore the sowing of the seeds of doubt have taken place on subjects that have been in the public domain for many months, subjects that the press have had ample time to investigate and have never challenged.

Most importantly the subjects that are being questioned are the direct responsibility of the MOF, matters that I have personally been involved with. That is why I stand before you today to comprehensively refute this sly innuendo.

The Premier in his interview spoke the truth – in February of this year the Government of Bermuda was indeed on the brink of not being able to make the month end payroll. I said it in Parliament and stood before you at the time to reiterate the same.

Perhaps the shadowy anonymous source doesn’t understand the process, so will explain it to you.

The Government Loans Amendment Act prescribes the amount of aggregate debt the government can have. To breach that level would be illegal, for a bank to lend to a borrower money that is unauthorized is an unlawful transaction for that bank, even if it is the government.

The issue wasn’t whether the government had lines of credit available to it at the time; the issue was whether the government had the legal authority from Parliament to access those lines of credit. If accessing those lines at that time meant that the total public debt exceeded that authorized by Parliament then those lines were, in fact, not legally available.

When I was appointed Minister of Finance in 12/12 one of the first questions I asked my staff was, “Do we have enough cash and credit to last until the next budget.” The answer was yes, but it will be close.

As January 2013 unfolded it became clear that due to unexpected expenses due to the repairs of deficient workmanship and improvements to Heritage Wharf, our cash burn rate was well in excess of expectation, and we were is real danger of bumping our proverbial heads on the debt ceiling before we could get authorization from Parliament to have it increased.

I alerted the Premier of our situation.

That is why we took the unusual step to laying for 1st reading the Government Loans Amendment Act 2013 which increased the debt limit to $2.5 billion on the same day as the budget statement, February 22nd. According to the provisions of the Provisional Collection of Revenue Act 1975 the Government Loans Amendment Act 2013 came into immediate effect the moment it was laid in the House, therefore we were able to access those bank lines and make the February month-end payroll.

Without those emergency measures government would not have been able to make that payroll.

So the shadowy anonymous source was wrong, the Premier was right. If you had come to me in the first place I wouldn’t have to come here and flog you now.

As for the loss of population of 7,000 people, that estimate has been out in the public domain for about 12 months. The press has never challenged this estimate. It has been quoted by many people, including myself, in Parliament and on the road show abroad when we were selling Government bonds to investors. I believe it comes from a private sector analyst, it is not a government figure, but I have no doubt that it is in the right ballpark.

It is this severe loss of population that has made it so difficult to restart economic growth. It is virtually impossible to get GDP growth with a shrinking population. Anyone who doesn’t believe that needs to pick up an ECON 101 textbook and get a grip on reality.

So I am beseeching members of the fifth estate, the press, it serves the public interest if your reports are accurate and your research is thorough. If this economy is to be turned around, confidence in the government is a prerequisite, both locally and overseas. I believe we have restored much confidence by straight talk and candor. We cannot, at this crucial time, have the government denigrated by would-be Wizards of Oz who hide behind curtains and execute an agenda of who knows what.

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  1. Finally says:

    OK.. so Bermuda is like America. They needed to raise the debt ceiling. That was the only issue. Why was Cannonier making such a big deal about having to raise the debt ceiling.

    People made it seem like we were broke.

    Sheesh!

    • Bermyman says:

      Lol! exactly the point! 80% of Government revenues go to civil service wages, so we have to borrow money to pay them at the moment. Every single penny the civil service collects is borrowed. Every road paved, hedge cut by the Government is all borrowed money we don;t have enough to run the civil service and the infrastructure of the nation. Cannot go on forever.

      • Argosy says:

        ……”nation”?????

        • Mike Hind says:

          “Nation may refer to a community of people who share a common language, culture, ethnicity, descent, or history. However, it can also refer to people who share a common territory and government (for example the inhabitants of a sovereign state) irrespective of their ethnic make-up; that is, a nation state.”

          Yes. Nation.

    • CBA says:

      Because it is a big deal and we are broke.

      The US will rebound. It’s the US. Will Bermuda? Who knows?

      • Country Youte says:

        OBA got you believing the earth is flat…smh

        • Hell in and Handbasket says:

          LMAO.. That was priceless

          • Come Correct says:

            PLP had you believe they were for Bermudians….you don’t want to see the price tag on that.

          • aceboy says:

            When we are in debt and continue to borrow to pay wages, we are broke. Why are we broke? Take a good look at the concrete monstrocity sitting on the cliffs in Warwick. Take a look at Berkley, TCD, the Court building, the cruise ship terminal. We lashed out cash to football and cricket players with NOTHING to show for it, except the type of attitude our National players now display at Cup Match. We’ve built a hospital that has already started a charity to help pay for it when we were told it would pay for itself. The cost of that in real terms is still unknown, but rest assured we know who will pay. We also hired more civil servants than we can afford and all of them will be signing up for a pension that is already woefully underfunded.

            Laugh it up.

            • swing voter says:

              jeeeez yur right bie. Bermudians forget all to easily how the money was borrowed and spent like there was no tomorrow. Cox Snr. was our only hope of staving off the ridiculous antics of ‘the unmentionables’

        • Be Like Me says:

          And the PLP told you that you’d fall off the edge!!

    • B. Trump says:

      This reply is not becoming of any person whom hold a political position. It reaps of Arrogance and high level of disrespect for the average person, as if they lack knowledge to understand anything, more so the basic concept of economic. The attempt to name-call which is typical of the OBAubpers is not new behavior. SO only Mr. Richards is capable of understanding most things? I think not ! There are far more brilliant folks out there than him alone.

      This condescending attempt to appeal to some folks emotions, with his poor presentation and reply, is almost laughable. This continued arrogance from this Minister really does reveal that he is working hard to undo the “Spin” as put out there by the Premier of Bermuda, and is fighting to SAVE HIS BUTT and regain some level of creditability. More so he is still failing to provide the people with REAL FACTS. Why NOT put out there REAL FACTS, instead of estimates and figures that are in correct? Why not indicate his REAL SOURCE of REFERENCE from where he took his figures if they are indeed correct? This alone reveals that all is not correct.

      Almost all governments always indicate or reference their sources, after all it is best to provide the people of any country with REAL DATA, not guesses, or estimated data as made up by the Politicians.

      . “I believe it comes from a private sector analyst, it is not a government figure, but I have no doubt that it is in the right ballpark”.___Here it indicates he is not even sure where the data comes from….REALLY…… this alone makes him sound really incompetent as the Minister of Finance. NO, NO country in the world operates from data that is not accurate and made up. Why make up numbers or quote inaccurate numbers to appeal to the emotions of the Bermuda people only. Why not just reference his data so that one can know it is factual? If one needs to refer to it, there would be no room for anyone to questions the data? Instead this is not done, and seldom does he do it, yet he calls others “shadowy anonymous sources”, well this can also be said of him, as he fails to indicate his data source thus it lacks a high level of creditability?

      • Mike Hind says:

        Nothing but baseless smear from B. Trump. Par for the course.

        Fox News-level propaganda, based on nothing but sour grapes.

        So sad.

  2. Seriously??? says:

    “As for the loss of population of 7,000 people, that estimate has been out in the public domain for about 12 months. The press has never challenged this estimate. It has been quoted by many people, including myself, in Parliament and on the road show abroad when we were selling Government bonds to investors. I believe it comes from a private sector analyst, it is not a government figure, but I have no doubt that it is in the right ballpark.”

    So let me get this straight. The Government is going around repeating this figure and can’t even say the source of this figure. How do you run a government like that? Just on a “guess”. You need to have facts.

    The media has failed if they didn’t question this figure before. Good on the reporter who finally questioned the issue.

    • Concerned Citizen says:

      I agree! What type of nonsense is this? And what’s with the un-Ministerial language in this statement? The last time I checked Minister Richards, most of the media have been silent on the issues and have avoided asking your government any questions! They also refuse to print what the opposition and independent Lister have continuously asked for the last 9 months. Please don’t tell me that in order to boost confidence in Bermuda, your government feels the need to use non-factual data from unknown private sources, and paint a false reality? IB is not that stupid Minister.

      • Just input says:

        How does one truly measure how many people left the island? Census? How long does this take to implement? Years? How much does it cost? By the time all this is completed the data surely would not reflect the true volume of ppl who left. So it’s fine to point fingers and suggest they get facts, but when u find a precise way to gather the data….. Let me know

  3. Change Course and Culture says:

    oh so this is why Cog was pressuring Ministries and Ministers for all unspent cash and large balances, why didnt she just say so?

    Cog you have to look people in the eye and open your mouth and speak, for the next time round that is

    • B. Trump says:

      “shadowy anonymous sources, well they sure did rattled and shake-up the EGO of the Minister Bob, he is fighting back to save his butt and the Premier’s. The look on Minister Bob’s face on TV said it all, he has been shaken that his best kept secrets are no longer a secret, that the FACTS were indeed FALSE. This suggest these anonymous sources were indeed correct with the information they revealed to the reporter, if not why does Minister Bob fight so hard convince folks otherwise?

      These individuals are even more intelligent and knowledgeable than thee the Minister…These persons know how the economy works and been in their jobs longer than your been Minister of Finance……..Please Minister Bob, the anonymous sources are not so shadowy as you think, they have EXPOSED you and the PREMIER>..and your fighting like H.ll to survive it….REALLY…fun watching you sinking on tv..

  4. Inthemiddle says:

    Minister of Finance you say, “I believe we have restored much confidence by straight talk and candor.”

    From reading your statement above you are correct, you have, however the Premier is not at the same level.

    His interview last week was alarmist. It is not accurate to say you had to get emergency loans on wall street to make payroll, when the truth is you had to raise the debt ceiling. This is similar to what is happening in the USA.

    I would suggest you ask the premier to stop speaking on matters of finance, as every-time he does, it seems you have to come after him and clean up the mess. He did the same with the G20, and he’s doing it again.

    • B. Trump says:

      A real sign that the Premier is merely a figure-head, lacking any knowledge on most things… but he serves the purpose the OBAubp intended he will, all apart of the political strategy.

      But this statement from Mr. Richards is far worst and mostly written like a blogger, lacking any creditability for a person whom holds a position in high office. It is reaps of falsehoods and sounds like he is working hard to cover the Premier’s butt as well as the OBAubp and to appeal to their fans…Emotional strategy at work here…

      • Mike Hind says:

        There it is! The attack on the premier!
        I knew it was coming.

        What a joke you are, “B. Trump”…

  5. Navin R. Johnson says:

    Judging by the traffic in and around town 7,000 may be light.

    • Toodle-oo says:

      Not only the traffic/parking in town NJ.
      They’d never reveal the numbers but ask the banks how many less accounts they’re handling now.

      And the ultimate proof. How many rental units are sitting empty now ?
      Ask BELCO what they’re estimate is while you’re at it.

      Good ol’ Larry Burchall is not the only person on the island who’s not in denial and wearing rose coloured glasses .

  6. Indepedent says:

    @Navin R Johnson,

    Please tell me you arent serious. You believe 7000 people left our shores?

    • Concerned says:

      all you have to do is look at how many foreigners work for Buzz and other business to see that.

    • RawOnion says:

      The story is referring to 7000 persons not contributing to the finances of Bermuda either by leaving (Bermudians and guest workers) and those who are unemployed. I doubt 7000 persons have left our shores but since no one actually keeps numbers, who really knows.

      • Be Like Me says:

        The estmate I heard from the Chamber of Commerce was 5000 jobs, you take the wives and 1.2 children and the dog… Yeah, I’d say 7000 is close!

  7. Chris Famous says:

    God Bless the 5th estate

    No one can hide from it.

  8. DarkSideofTheMoon says:

    7,000 people have left, 80% revenue goes to payroll, 10,000 civil servants….Seems like all these numbers go up with every news story…

    By next week it will be 20,000 left, 99.9% go to salaries and 65,000 civil servants…..

    • Concerned Citizen says:

      Remember when the Premier claimed that the OBA government didn’t know how many govt employees there are? No wonder the numbers change on a weekly basis.

      • sonso says:

        thanks to your illustrious PLP bredren!

      • Hmmm says:

        This was a government created in size and stealth by the Failure known as the PLP. They report (or fail to report the number of employees), not the OBA. Go pluck a chicken fool

      • B. Trump says:

        that information is readily available to the govt of the day, I hope you did not fall for that lie. One can get that data in less than 2 seconds…boy those OBAubp fall for anything..

        • Hmmm says:

          Go get it then , state sources, names and positions held.

        • Mike Hind says:

          “in less that 2 seconds”

          More proof that you have ABSOLUTELY no idea what you’re talking about…

  9. Realist says:

    The PLP ripped us off!

  10. Hmmmmm says:

    This guy is so funny. The OBA swept to power on the strength of anonymous sources, unproven allegations, innuendo and false whistleblowers and NOW we get a lecture about how they should not be trusted?! Really, Bob? The OBA in opposition specialized in this shadowy stuff and now in government there’s this miraculous awakening the undermining the office of the Premier is internationally unwise. Well duh !! As Pat says: “put on your big boy pants” because there’s much more of this to come. This is the playbook designed so expertly by you and your team and its now a part of our political fabric so deal with it. What a pathetic, knee-jerk and un-ministerial statement. To call for press responsibility and for guarded statements in the name of investor confidence now that you’re in the chair is just disingenuous. If it was wrong last night then it was wrong before December 2012 and your failiure to say so is indicative of just how small you and our politics really are.

    • Hell in and Handbasket says:

      Let the church say Amen!

    • Hmmm says:

      They didn’t sweep to power. The PLP Were such a abysmal flop, that they were voted out, they still are a flop. Stop with your lies.

    • B. Trump says:

      WELL SAID Hmmmmmmmmmmmmmmmmm

      One only needs to look at the Statistical data from the Department of Statistics if they want HONEST AND REAL data. Thanks God that the Statisticians are not bias and will give you the REAL numbers. This seems not to be the case for the OBAubp Politicians. Despite this he still attempts to SPIN out of Control with misinformation and lies. I only want FACTS, what’s so hard about that….after all OBAubp did say they would be Transparent, yet I do not see this so far…..please reference your findings Mr. Richards.whats so difficult about that….

      • Mike Hind says:

        Not even a little bit true.

        You aren’t interested in facts. You just want to smear.

  11. Observer says:

    This country we call Bermuda is not coming back!

  12. LaVerne Furbert says:

    Whoever wrote that speech for Bob Richards should be fired!! “The Fifth Estate? “The term “Fifth Estate” has no fixed meaning, but is used — following a formulation that dates back to the 18th century — to describe any class or group in society other than the clergy (First Estate), the nobility (Second Estate), the commoners (Third Estate), and the press (Fourth Estate)”.

    • Hmmm says:

      When can I read the BIU audited 2012 financial statements?

    • media says:

      A quick check on wikipedia would suggest otherwise.

      “It can also be used to describe media outlets (including the blogosphere) that see themselves in opposition to mainstream media (the official Press)”.

    • Double Standards says:

      Workers Voice sign back up to the media council yet?

    • I always thought the 4th estate was the established news media (print, television, radio) & the 5th was the internet, just regular folks? There’s that new movie coming out tomorrow, anyway, maybe they just downloaded a bootleg copy & liked the sound of the title.

      • Unless you’re talking about Bernews, of course, they’re like a new fangled hybrid, Estate 4.5 or 4 2/3 or something. Really
        should’ve made these things clearer back in the 18th century.

  13. js says:

    me thinks the Minister doth protests too much

  14. Alvin Williams says:

    All of a sudden this OBA government disavows leaks about it’s internal workings yet when it was the political opposition leaks concerning the former PLP government was par for the course. backed by it’s media allies
    which ensured that every leak was given front page and glaring head lines.
    How long is the anti-Bermudian one term OBA government going to attempt to run away from it’s governmental responsibilities? The OBA is the government something when all else fails for OBA supporters in their efforts to put forward arguments and excuses in defence of their OBA government; never cease to remind the rest of us. Bermuda’s fiscal problems are the problems that the OBA government has claim that it could fix. Bermuda’s debt problem is now a OBA government debt problem. IT is time to man up and except responsibility and I am speaking directly to the Anti-Bermudian one term OBA government.

    • Drivel says:

      That is complete gibberish Alvin. I thought you wrote for Laverne’s rag? You can’t even complete sentences that make any kind of sense…

    • jt says:

      AW – Can you rephrase that into something comprehensible?

    • Mike Hind says:

      Here we go again…

      Saying it over and over again isn’t going to make it true.

      “Anti-Bermudian one term OBA government”

      It’s just childish ranting.

      • Time Shall Tell says:

        Childish ranting?? Are you new to Bernews (I know you’re not), that’s what 90% of all posts are on here…

        • Mike Hind says:

          And? Does that make what I said any less true?

          • Time Shall Tell says:

            Oh no, you’re 100% correct but you would have to make it a full time job to point out the number of childish rants on here.

      • B. Trump says:

        Somewhat like MR. Richards throwing numbers out there, over and over again, it does not make it true. Just provide the hard data and source of his numbers, and NO DEBATE would be necessary. He was called out, and this is what he is in smoke about…thus the arrogance tone of his reply. Really, just state the source of his data…easy fix…NO country should have to guess with critical facts such as this, this data is recorded by the Department of Stats. This is really sad when a Minister fails to provide real data with hard facts.

        However, we fail to keep track of exits data at the airport, which is critical as well.

    • Hmmm says:

      The OBA are not Anti-Bermudian. the PLP hold that title. The PLP through their mismanagement overheated a growth economy by overspending. The PLP USED you. They used the race card and Gotti like family fun days and Teamster like town hall meetings to cover up the reality that they had been power drunk driving the ship into an iceberg…Bermuda was sinking and sinking fast. The PLP were planning to plan to plan a plan to plan a plan. They were ideas with no product in the final years. The OBA have boarded this sinking ship with the population of Bermuda on it and began to stabilize it. The OBA was formed because people were unhappy with the PLP and the UBP and wanted a more inclusive new party constitution, where opportunity existed for all. They are working their socks off for Bermudians. all Bermudians. The OBA don’t see colour they see people. They see you. The PLP saw nothing, because apparently all was well despite all the job losses and burdens they had placed upon us and our children.

  15. Time Shall Tell says:

    Wait… The OBA Say where so close to financial collapse that we wouldn’ of been able to make payroll. yet one of the first things they did once in power was to raise Senators & MP salaries by 5%, something the PLP had reduced by 5% previously??? However they then in turn want to cut the everyday government workers income by approximately 5%… Take from the poor to give to the rich seems to be their end game.

    • Media says:

      Wrong. The OBA are the ones that lowered the ministers salaries. The PLP never actually did it. Let’s be honest…

      • Time Shall Tell says:

        Wrong, they lowered the premiers & deputy premiers but Senators & some MP’s got a 5% increase. Look it up.

      • B. Trump says:

        It would be good to see the OBAubp MPs stop taking a salary altogether after all most take home 2 salaries anyway. Also many do not even work for it. Only about 8 OBAubp MPs speak in the house, the others sit in silence on most times…so give up the money, this would show a real sign they CARE for those that HAVE NOT.

        • haha says:

          then why didn’t the PLP stop taking their salaries altogether since some have 2 jobs. STFU already Betty give it a rest, old folks home is calling. BEin 60+ you got your benefits?~!

          • Mike Hind says:

            Because, as always, “It’s ok when we do it…”
            That’s the ONLY message.

            “When are you going to stop blaming the PLP for what they did wrong? How much time has to pass? Don’t you know it’s the UBP’s fault?”

  16. Mike Hind says:

    Oh, look! Here’s another molehill!

  17. B. Trump says:

    It is this severe loss of population that has made it so difficult to restart economic growth. OH STOP IT OBAUBP

    OBAubp’s SPEECH WOULD HAVE BEEN GOOD IF AN ATTEMPT WAS MADE TO ADDRESS AND PRESENTED A PLAN TO ADDRESS HOW THEY WILL CREATE ALTERNATIVE REVENUE STREAMS< RATHER THAN DRIBBLE ON, and ON IN A CHILDISH ATTACKS ABOUT THE MEDIA…. REDICULUS AT BEST

    • Suzie Quattro says:

      Oh. It’s “REDICULUS” is it Betty?

    • Mike Hind says:

      “CHILDISH ATTACKS ABOUT THE MEDIA….”

      More “it’s ok when we do it…”

      • Double Standards says:

        Is this the new Combined Opposition?

        Hahaha…

  18. Paul Anthony Basden says:

    As stated, it will be difficult to restart economic growth, virtually impossible, so hopefully our efforts will become that much more aggressive, rather than business as usual.

  19. aceboy says:

    You mean like Marc Bean prattling on about the Blue Economy again?

  20. B. Trump says:

    NO PLAN< NO SOLUTIONS>>>><<<

  21. B. Trump says:

    The issue wasn’t whether the government had lines of credit available to it at the time; the issue was whether the government had the legal authority from Parliament to access those lines of credit>>>>><<<

  22. B. Trump says:

    The issue wasn’t whether the government had lines of credit available to it at the time; the issue was whether the government had the legal authority from Parliament to access those lines of credit>>>>><<<< if this is the case then the Minister choice of words were incorrect, inappropriate, unsuitable, revealed that he did an extremely poor job in delivery of the correct message to the people of Bermuda.
    The Minister and Premier’ bad choice of words to describe the situation that Bermuda was faced with reaps of dishonesty, deceitfulness, and political treachery. "Bermuda is unable to pay its bills” further reaps of language that seems to send out the wrong information and was merely was a political ploy and maneuver, to appeal to the people’s emotions. It also comes across as a desperate, frantic and despairing attempt on the part of the Minister to suggest he has “NO PLAN”, but stick with us anyway.

    It might have been more effective if the Minister had indicated that there was an actually money there, but the government had to seek approval from Parliament to cover perhaps future short falls. Why attempt to twist it. To make it seem like Bermuda was bank-rupt. One can only guess what his hidden agenda was. Even if monies are required later on, at the present time there was monies at least in the short-fall until government could get back into parliament for further approval. REALLY !!

    • Double Standards says:

      Why is it incorrect?

      If you have no cash you borrow.

      Lines of credit are for borrowing.

      Why would a Government, with ample cash reserves, borrow cash?

      The answer would be because it has/had no cash.

      Understand?

    • Bermyman says:

      Lol! Paula had a plan. Recession hits, businesses start to leave due to high costs. She increases payroll tax!? Result= more businesses leave at a faster rate. Next year she repeals the tax increase, realizing the error but it is too late! TALK ABOUT NOT KNOWING WHAT YOU ARE DOING!!!

      Great PLAN PLP!!

      • B. Trump says:

        What happen in other countries when this recession hit…stop acting silly and admit that this was one of the worst recessions to hit the Economy worldwide. The reality is look whom was behind such a recession…..those of great privilege.

        The OBAUpb did promise they would lower our debt, but looks like they have increased it 10 times more…REALLY

  23. B. Trump says:

    There was NO need to frame this matter in such a context to reach the emotions of folks only. The use of Language by this Minister and the OBAubp is unscrupulous and is most unprofessional. This is one of the worst responses I have read by any government going back as far as the UBPoba’s time in govt.

    But it does highlight and emphasized a very important point : THE government OBAUbp lack any “PLAN, IDEAS, or SOLUTIONS” for MOVING BERMUDA FORWARD. The OBAubp or any government who believe that riding the ‘ONE HORSE OF IB’ or the ‘Dying pony of TOURISM’ is their saving grace, than Bermuda will not turn around. IT is clear the government has now admitted they do not have alternate PLANS, and MR, Richards had this written all over his face, thus he fights now to gain back on a certain level of creditability.

    Thanks for at least admitting Mr. Richards that you are clueless on a PLAN or Solutions.
    Their only plan was to Borrow, Borrow, Borrow, which is what they accused the PLP of doing, and it is not going to work in the long run. Their plan for Term Limits and PRC has failed to have the turnaround they had so much hope in. NO PLAN, NO SOLUTIONS>

    • aceboy says:

      The PLP have nor had any sort of real plan. They had plans for plans though…lots of them.

    • haha says:

      bla bla bla…dats all you write….bla bla and more bla

    • Bermyman says:

      Why should they tell anyone any plan or solution until it is time to implement or make decisions based on that plan? There is planning and ideas surrounding the economy from the current Government of course there is, but that is not for the PLP to decide. If the PLP claim that they somehow have plans that will immediately turn the economy around, then why did they not implement them when they had the chance? All we have heard from the PLP is suggestions such as Sea bed mining which require huge infrastructure costs, massive capital allocation and about 10 years of planning and R&D before it can be close to up and running. All we have heard from the PLP is ‘one liners’ that do not constitute as an achievable plan, nothing more than Pie in the Sky.

      You cannot deny that the PLP presided over negative growth, loss of revenue and inflation of the civil service. Those three factors which are key to the current mammoth national debt level and also the current economic climate in Bermuda.

      Your criticism is not constructive, which makes it invalid to the intelligent individual. The current Finance minister has education and a wealth of experience in economics and finance. The previous finance minister had ‘none’ and it showed. The proof is in the pudding as they say, Pensions have been un-audited since 2005 under the PLP? That is borderline criminal for any finance ministry. Based on that fact alone it is clear that the previous PLP administration did not know what they were doing.

      Can you give us one implementable example of how the PLP have suggested we can diversify the economy, build jobs and attract new investment to the Island? When I say implementable, that means an achievable timeline, costs associated with the prospect, where the capital will come from to fund such a project and how many jobs it will create in the next 12 months? From that then, can you advise how it will contribute to overall economic growth and increase in Government revenues?

      Let’s hear it?

      • B. Trump says:

        Bermyman I understand your need to play the defend the OBAupb CARD, afterall that is your only card you can play…DEFEND, even if it is right or wrong..until the cows come home…typical reaction and response.

        Why should they tell anyone any plan or solution until it is time to implement or make decisions based on that plan? <<<>>>>>OBAubp did it in less than 5 months…..get a grip there son…

        Anyone that attacks the arguments put forward by the OBAubp govt are labeled like your MR BOB as lacking a certain level of intelligent. This condescending attitude by your Mr. Bob, seem to carry out to its diehard fans as well.

        May be your so called educated Minister needs to be careful whom he labels as lacking intelligent. After all there are many that have a higher IQ than he does. Why does he need to act in such a fashion in which he decries the ordinary citizen or educated persons as lacking knowledge to understand anything? There are many that are more learnt than he, and are very much able to understand and comprehend simple facts or Economics 101 or 201..REALLY, I think it him whom needs to reflect on his use of language and arrogances of calling folks of Bermuda DUMP and stupid.

        A SMART LEADER, Never approaches anyone as if they lack knowledge, as often they may have more intelligent than they are aware of. He called the reporters and persons in government very degrading names…and this does not bode well for any leader of good character.

        If you accept his tone and manner as conducted in that interview, well it speaks and says a lot about your integrity as a professional individual. Any leader that attempts to attack the citizens of this country, is not a great leader but someone who is lacking a strong ability to rule with out hiding behind fear of their own incompetence. His most reason speech reveals that he is lacking any level of high intelligent as his speech failed to display such.

        OBAubp NO PLAN< NO SOLUTION< NO NOTHING…….

        • Mike Hind says:

          If the truth is so bad, why do you have to constantly – and ONLY – resort to lies and misinformation in order to make your point?

        • Come Correct says:

          You literally just typed intelligent three times where intelligence should be and people are supposed to take you seriously? You should be charged with manslaughter of the English language. You should be beaten with a reading and composition text book before you’re even allowed to touch economics 101. Bob must have really struck a nerve with you. Can you read this or would you like it in audio format?

      • B. Trump says:

        Bermyman I understand your need to play the defend the OBAupb CARD, afterall that is your only card you can play…DEFEND, even if it is right or wrong..until the cows come home…typical reaction and response.

        Why should they tell anyone any plan or solution until it is time to implement or make decisions based on that plan? <<<>>>>>OBAubp did it in less than 5 months…..get a grip there son…

    • Mike Hind says:

      More outright lies from B. Trump.

      It’s sad that people actually believe this nonsense.

      • B. Trump says:

        I must be saying something REAL, after all you take the time to write some off the wall defensive comment to protect your beloved OBAubp… if not whey comment

        • Mike Hind says:

          I comment because I believe in speaking out against things that are bad for Bermuda. I think that it’s important to do so.

          There’s no defensiveness and I’m not trying “to protect [my] beloved OBAubp”. You’re just lashing out and smearing because you know I’m right.

          You are lying and spreading misinformation for political reasons. I don’t like that and I think that you and propagandists like you are bad for Bermuda, so I speak out against you. It’s as simple as that.

        • Come Correct says:

          Because none of us will sit idly by and allow you to spread your false propaganda, we love our island home too much and word is you aren’t even Bermudian, personally I don’t even think “B. Trump” actually exists. Why with all the replies do you respond to Mike? Because he is your biggest threat, because he words his comments very carefully unlike most, his responses are very well articulated and void of emotion unlike yourself. However, I’m not Mike and it would blow my mind if people actually listen to your drivel since you can barely string a sentence together let alone understand the topics you speak on. A herd of buffalo is only as fast as the slowest buffalo, when hunted it is naturally the slower, weaker buffalo that are picked off. This is a good thing because it increases the strength and speed of the herd on a whole. Unfortunately we as humans have put laws in place to stop the survival of the fittest. “B. Trump”, you are the slowest buffalo and feel no way about dragging the rest down with you.

          • Mike Hind says:

            Sadly, I’m pretty sure you’re not right.
            Sadly, I think that there are folks out there that are “slower buffalos”… That’s “B. Trump”‘s audience.

            Even sadder, they believe the lies that “B. Trump” spreads.

            • Come Correct says:

              I like to believe people are smarter than that. All I have is a high school diploma, I’m sure as hell not at the front of the pack, but seeing through bulls*** isn’t a subject in school. “B. Trump’s” comments are completely bias and that to me makes them worthless. They’re clearly incapable of looking at things from more than one side. There will always be “slow buffalos” but I believe people can form their own opinions rather than feeding off of ridiculous propaganda, I definitely can’t call it an opinion. I have faith in humanity, humans don’t want to see other humans suffer, we’re good by nature, only the unloved hate.

              • Mike Hind says:

                I hope you’re right and despair that you aren’t.

              • B. Trump says:

                Yeah, but many agreed with me. They see this government is NOT for the average man or woman, and Mr. Richards nasty comments helped to confirm it. Nothing I say had the greatest impact on folks, it is comments coming from your Minister that impacts folks more. His comments were condescending, unprofessional, and insulting to some folks….he is doing the damage all by himself, I think your got a bigger problem on your hands,,,, a Minister with an EGO the size of a football, which will burst someday…..he may not bounce back…..not Betty…dearest diehards OBAUbp fans.

            • B. Trump says:

              Mike folks know what your about, thinking only you should be allowed to make a comment on this site…REALLY…we all know you will go to back to save the butts of OBAubp any day, regardless if they are right or wrong. You will defend, defend, until the cows come home….GET REAL.

          • B. Trump says:

            The false false propaganda, has been spoken over and over again by your beloved OBAubp. Take a look an determine whom is destroying Bermuda, the OBAubp with their anti-Bermudian polices. They have put into place only things that protect non-Bermudians, not the born Bermudians. WAKE up diehard fan.

    • Whatever says:

      My plan is to sell the oxygen from above Bermuda and move it to the smog ridden cities of the US… I suggest we start with the air above betty to see if it works as a POC…

      • Come Correct says:

        How do you plan to extract the smog that comes from their mouth?

        • B. Trump says:

          I love to see the AIR come out of the EGO of Mr. Richards…wow