PLP & OBA On Financial Policies, Attitudes
“The arrogance and anti-Bermudian attitudes that have become the hallmark of the OBA’s time in office is disappointing but not surprising,” the PLP said, which the OBA said “is rich since the legacy of their years in government is thousands of Bermudians without work…”
Shadow Minister for Seniors Derrick Burgess said “the OBA says money doesn’t grow on trees,” when it comes to seniors, scholarships, financial assistance and salaries for government workers, yet “somehow money does grow on trees” for tax concessions for business that have failed to translate into jobs for Bermudians and to provide the Bermuda Tourism Authority with over $20 million “while covering up how it is being spent.”
“The arrogance and anti-Bermudian attitudes that have become the hallmark of the OBA’s time in office is disappointing but not surprising. OBA actions and policies directed against Bermudians speak for themselves,” added Mr. Burgess.
In response, an OBA spokesperson said, “The $110 million-plus the government must spend this year on debt interest payments – money that cannot go to increase senior pensions – is the consequence of the fiscal and economic mismanagement of the PLP years.
“The PLP like to describe OBA policies as anti-Bermudian, which is rich since the legacy of their years in government is thousands of Bermudians without work, with reduced wages and less hope than they once had.
PLP Comments
Shadow Minister for Seniors Derrick Burgess said, “Before the election the OBA said they “We have no interest in hurting anyone, least of all our seniors.” In 2011, the OBA said that the PLP’s 3% pension increase for seniors was “woefully inadequate.”
“Since then they have lowered their quality of life, raised their taxes and licensing fees, refused to outlaw age discrimination and allowed their friends in the insurance industry to raise the cost of health insurance.
“Based on their record of broken promises and deception, no Bermudian, least of all our seniors should be surprised at the heartless action taken against Bermudians who built this country and sacrificed so much for the life we all enjoy today.
“The OBA says “money doesn’t grow on trees,” when it comes to seniors, scholarships for young Bermudians, financial assistance for the unemployed and salaries for government workers. Yet somehow money does grow on trees for:
- Tax concessions for business that have failed to translate into jobs for Bermudians
- Providing the Bermuda Tourism Authority with over $20 Million in tax payer money while covering up how it is being spent, where it is being spent and on who it is being spent
- Paying out over $200,000 on moving the BTA out of government offices, refurbishments and furniture, while also creating an unknown cost to taxpayers in the form of monthly rent to the BTA’s landlord
“The arrogance and anti-Bermudian attitudes that have become the hallmark of the OBA’s time in office is disappointing but not surprising. OBA actions and policies directed against Bermudians speak for themselves,” added Mr. Burgess.
OBA Comments
In response, an OBA spokesperson said, “The PLP are the architects of deprivations and shortages felt by thousands of Bermudians today. The $110 million-plus the government must spend this year on debt interest payments – money that cannot go to increase senior pensions – is the consequence of the fiscal and economic mismanagement of the PLP years.
“The OBA Government is working to fix the situation, but let there be no mistake about exactly who are the authors of our economic misfortunes. PLP mismanagement of the economy and government finances has imposed an era of austerity on Bermudians that will take years to correct.
“Everything they say in today’s statement indicates they have learned nothing from their experience. They would only deepen the hole they dug for Bermuda – playing for political gain instead of national salvation.
“The PLP like to describe OBA policies as anti-Bermudian, which is rich since the legacy of their years in government is thousands of Bermudians without work, with reduced wages and less hope than they once had.
“The OBA understands the hardships and we are pulling every available lever to improve the economy so that people can get the jobs, opportunities and support they need. It’s taking time, but that simply speaks to the serious situation passed on by the previous government.”
Let the OBA do their job!
Let the OBA do their job!
Let the OBA do their job!
Mr.Derrick Burgess, if you were to have listened to the complete statement made you would be apologizing right now!
The Minister said something like this, I can see we have a mature audience here tonight so I am somewhat sure you’ve heard this while coming up, “that money don’t grow on trees”. That was the statement made and it was in reference to the fact Bermuda is broke!
Something like…wtf.
The man said, I’m telling you, as I am sure you have told your children in the past, money doesn’t grow on trees.
Why you got to be so rude? Don’t you know I’m human too?
This may be an acceptable phrase, for a parent to tell their child. It is, however, not acceptable, or professional or very considerate, for a politician to speak to the elder generation of bermudians, in this way. Like he’s got to dumb it down, so they can understand.
He is out of order and should apologize, publicly, and revise his statement, and possibly, his train of thought. Have some respect.
Sometimes the truth does hurt; yet it must be told and that is what the Minister Bob Richards did. He had said what was needed to be said to everyone, whether they were at the hall gathering or elsewhere…
Is it true that the gov. in addition to donating over $20,000,000 also paid for their new office renovations, furniture, etc.. and are also paying for the rent of said office, on behalf of the bta?
If this is indeed true, who negotiated this deal? That money could have gone toward the seniors wellbeing.
Is 20 mil. not enough to cover rent and the furnishings etc..? Now we really need to know exactly where the money is going…truth hurts!
More than enough…..thanks for finally caring what’s happening to our finances after turning a blind eye while turning a blind eye for 14 years when the REAL IRREVERSABLE damage happened. SMH
Well said Oba. It’s a shame more people can’t understand the truth.
Oh, people can.
It’s the PLP’s job not to understand the truth because if they did they’d never vote for themselves again.
The $110 million a year spent on servicing the debt says it all!!! The plp proved their complete incompetence by allowing our finances to get to this deplorable state and what makes it worst is that still are way to incompetent to have learned from their mistake!! As the OBA said, ” it is the plp who are actually the ones that is anti Bermudian ” no other event or political party has done more damage to the Bermudian people than the plp,!!!!!!!
Here! here! Kangoocar. “Until the colour of a mans skin is of no-more significance than the colour of his eyes there will be war” H.I.M.
Snap out of it u’lot! We are all on this Island together and if it goes down then, we all go down with it…
That is one of our / Bermudas major problems, “colour blindness”
And his cheerleader raymond ray…right on que.
You choose to quote the Emperor of the worlds oldest kingdom, now that’s rich. I read nothing of color in ya buddy’s post. You attached that yourself, which shows us all that color is significant to you. And Bob Marley added the “there shall be war” part, that is the words of the song ‘war’, not part of the address to the united nations oct. 6, 1963.
This, however is included 7n the adress to which you refer…
“Until bigotry and prejudice and malicious and inhuman self intrest have been replaced by understanding and tolerance and goodwill;
Until all Africans stand and speak as free beings, equal inthe eyes of all men, as they are in the eyes of Heaven;
Until that day, the African continent will not konow peace. We Africans will fight, if necessary, and we will win, as we are confident in the victory of good over evil. ”
And in conclusion; “We must become members of a new race, overcoming petty prejudice, owing our ultimate allegiance not to nations but to our fellow men within the human community.”
Are you ready for the ultimate challenge?
You need to do a bit more researching…It’s a statement to the United Nation made by the former Emperor of Ethiopia but evidently it has gone over your head
Now have a blessed day (whoever you are) for I’ve heard far more than enough
You need to do some researh. I have the entire address to the united nations oct. 6 1963. Spoken by His Imperial Majesty Haile Selassie First. Nowhere in his address, did he say “there shall be war”.
“Wake up and live” Bob Marley.
Same old song and dance.
Kangoocar is still looking under the hood. He/she is like a broken record.
Find some other way to amuse yourself, writing is not your forte.
With all du respect you accusing of people of sounding like a broken record and claiming writing is not their forte is the pinnacle of irony (and just a tad bit hypocrtical).
“Ahhhh shutup!” Sylvester the cat
A perfect combination of ‘we still don’t get it ‘ and we continue to run in campaign mode 365 days a year .
Why did the PLP vote on favor of the tax concessions for the Greens et al?
Why didn’t the PLP prevent health insurers from raisin their premiums each and every year of their 14 year reign?
Why didn’t the PLP include age discrimination in the human rights legislation during their power?
Are the PLP also anti-Bermudian as well then?
Tax concessions were for places to invest dollars in Bermuda. Those invested dollars secured construcion and employment opportunities.
No money was given. A short period of time exists where less money is taken in tax in a trade off for the much larger and vital greater investment in Bermuda.
PLP are trying to put the blame for the years of austerity we have to suffer on the OBA. They did the crime, for us to do the time and are now attempting to blame that on the OBA.
That is disgusting. The lowest of the low. PLP once again showed their true self.
The $110m annual interest on debt incurred by the PLP is the most anti Bermudian act ever inflicted on Bermuda and Bermudians. How it was created was pure folly. When revenue was above budget it was spent, plus money was borrowed and that too was spent. Not on infrastructure that creates wealth but on a bloated civil service. The negative impact will be felt for generations to come. As Larry Burchall correctly said, Bermuda, plus all its assets, has been sold off to foreign bankers. Thanks to the PLP.
Tax concessions are not new, but the difference is in their impact. The PLP implemented a tax break for employees of restaurants and hotels. That was a real reduction in tax receipts. Tax concessions to hotels to refurbish and build are not a reduction. The tax will be paid by the builders and occupants. That creates a tax increase.
As I recall, the PLP also granted a limited time duty relief for the importation of a particular car model for use as a limo service. I believe there was only one company looking to import at that time.
They also lowered duty on boats, for a little while. Just long enough for the faithful who could afford it to buy them, then they raised it back up again.
Well this poves that the PLP are totally unfit to run this country. They clearly do not understand economics at all.
It is indeed a sad situation we find ourselves with the state of economy and that it can not provide for those who worked for it, but it is a direct result of the PLP’s policy to try and run our country with a debt. Such an economic policy only has a chance at viability if the country has a sufficiently size local production ability to float that debt, we do not. We have no local industry base to do this with and as we have to import virtually everything we are reliant on foreign capital to bolster the money that goes out for those importation. The UBP addressed this fundamental by building Bermuda into a business economy, one where foreign business could come and thrive, bring in their monies and spending some of it here, bringing foreign jobs, that in turn spend money here. The peak of the success of this economic path came, however, during the early part of thenPLP administration, and they rode it for all it was worth. What they didn’t do was manage it, they spent it like there was no end to it. One of their favorite terms was “you have to spend money to make money”, not entirely inaccurate providing you are spending it on investments with viable income returns. But the PLP quickly achieved a rate of spending that was exceeding the rate of returns, so to bolster the money outflow they embarked on the American economic policy of running our economy by debt, bringing in foreign capital to our economy by borrowing, and brought us to a state where in effect, we are now having to take from one credit card to pay off another.
It is at this point where we should highlight that the old UBP means of bringing in foreign capital was through business paying wages, taxes and services locally, to which there isn’t an expectation to repay those monies, so they stay in the economy. The PLP borrowing in full effect means that money coming in must eventually leave,and when it does leave, it does so with additional money from our economy through interest rates.
We are not the US, we do not have an industrial base where we can produce exports, we cannot maintain a debt run economy and this is where the PLP failed, the OBA trying to rebuild back the successful model the PLP destroyed through mismanagement is not anti-Bermudian. It will eventually bring us back to the success we once knew only 7 – 18 years ago, but it may take another 5 – 10 years to get us back to that level. We can only hope that should we get there again, the government of the day doesn’t spend it all away again on champagne, first class trips, PR just to maintain the image that we are successful and foreign consultants/businesses. Maybe then, we can provide for our seniors with the dignity and respect they have earned.
I agree 100% with you, “Build a Better Bermuda”. I pray / hope the vast majority of bernews. take a few minutes to read your input…
We must remember it had taken God 6 days to create the world and everything associated with it.
“All Is Well”
Oba has since doubled said debt!
Why did they do that?
Do you think they had a choice?
Not they didn’t. They inherited a $350mn deficit with no funds in the bank.
The only other option was to close the budget shortfall by instituting massive cuts to the public purse. And in doing so the economy would have imploded and the pain would have been much different than what we are going through now.
If the PLP retained power you think wouldn’t have needed to borrow more?
So the PLP is directly responsible for the need to borrow that money once the OBA was voted into power. That is the end all and be all of the situtation. So top being disingenous in your claims or educate yourself on Government finances.
Check out http://www.bermuda.io for all your reference needs.
They campaigned to ‘inherit’ this debt.
My option is simple. Politicians should work for free, this would truly portray their dedication to bermuda. They all have other intrests and are alredy well off. Civil servants would then exept a pay cut I’m sure and also cuts in pay for all gov. employees. This would provide significant savings.
This money could go towards ensuring the wellbeing of our seniors.
The bta should also be responsible for paying back all the money they have received from gov. to build a multi million dollar private enterprise. After 4 years,that will be over 100 million, plus intrest. Or did that money grow on trees?
Unfortunately my education is not confined to your cookie cutter rhetoric.
So basically you refuse to acknowledge the dire financial position that the current Government inherited due to the financial mismanagement of the previous administration and the need to tap into teh credit markets to ensure the Government remains functioning?
Can’t argue with irrational people. And you should return to school to further your education on these matters in which it is apparently you sorely lack even a single clue.
How’s that for cookie cutter?
Zzzz
Wouldn’t expect a more intelligent rebuttal from you. I can see your intellectual limitations (and ego) in your posts.
Keep calm carry on pretending you are somewhat intelligent and have a clue.
And if they did not the interest payments on the debt the PLP ran up are so expensive that the CS would not have a pay check. Your aggression is with the wrong group of people but tell yourself what lets you sleep at night the rest of us are gonna help Bermuda get back on track.
LOL
I agree that it is extremely tough on the seniors but I simply cannot find it in myself to agree with Burgess. It was his party that spent, spent and spent. It is not just seniors that are suffering as a result – it is charities, it is maintenance of our infrastructure ….. I believe I am right in saying that debt payments are basically the second largest Ministry?
Soon to be the largest.
The PLP become ever more irrational with their comments as their audience diminishes by the day. It will be interesting to see how many people actually vote for them in the next election. The truly insane perhaps.
It would be helpful if Mr. Burgess, or any other PLP representative, lay out their plan to address the $2bn underfunded pension plan that is projected to run dry by 2047 by the actuaries. If you can shout this and that and throw around labels and allegations then one whould also hope that behind all the bluster you actually have a plan. I know I am asking way too much from this team.
Also, can any PLP representative or supporter explain to me why the previous administration failed to audit the public pension funds for the last 4+ years of their reign (as per the SAGE report)? I believe such inaction simply personifies the gross finacnial mismanagment of the previous Government that has led to the need for austerity to close the inherited $350mn deficit.
It is really annoying the hear PLP supporters worrying about how they are talked to ! Honestly , the PLP crowd are so afraid of the truth they are speaking desperate garbage. What a bunch of babies ! Bob Richards should be praised for speaking the truth , period !! Something the PLP know very little of.
Its laughable when the PLP still want to spend money the Country does not have ! The PLP ARE SO VERY OUT OF TOUCH WITH FINANCE !!!!!!!!
The PLP ARE SO VERY OUT OF TOUCH WITH FINANCE !!!!!!!!
And the church says, “Amen”
“…allowed their friends in the insurance industry to raise the cost of health insurance”…really? who built the new hospital? What is the single biggest factor of raising cost of health care in Bermuda? Think before you speak…
EXACTLY.
And I keep harping on it but…we wre supposed to get a NEW HOSPITAL which would PAY FOR ITSELF. Now we have a new “WING” and a charity set up to try and help pay for it. All under Dr. Zane, the former health minister….lol
Mr Burgess please advise us how you have exsplaned to “People’s GRANCHILDREN” as to how they will have to “PAY-OFF” the Huge Debt that you and the PLP/BIU have incurred.
The PLP made life for all Bermuda’s citizens what it is today.
Just ask The Auditor General,She cannot account for $800 million of our money.
Now the PLP’s campaign and lust for power is trying to discredit the work of the govt. We know who got us in the mess we are in !
Mr Richards the finance minister of the “OBA” is absolutely correct.
NO you cant have an increase.
money does not grow on trees
Money comes from outside of Bermuda.
This is a concept that some of the population just don’t understand.
IT IS VERY SAD,that they cannot understand.
Tale of two political parties…the PLP depends on their audience being ignorant while the OBA gives their audience credit for intelligence…..when you actually listen to Bob Richards comments and the response of Derrick Burgess that says it all….
So it’s official. “Anti-Bermudian” is the PLP campaign buzzword for the time being. Guess we know who thank for that.
Yes I agree. From here on out and into the next election, the PLP is going to do everything it can, inclusive of creating “mystery reports and documents” that claim the OBA is “anti-Bermudian”.
It makes no sense. If the OBA was truly anti-Bermudian, they’d at least play nice for one term, win the election and then turn the screws on Bermudians. Why be anti-Bermudian in one term just to lost the next election?
Come on, PLP…you’re reasoning AGAIN is wrong.
90% of our politicians give the other 10% a bad name.
It is gratifying to see almost every single comment here in support of the OBA. Maybe the tide is turning and the real Bermudians are fighting back..in particular, fighting the sheer ignorant political rhetoric of the PLP.
They don’t understand, they don’t get it and they think that if they keep saying the same old, same old personal stuff….well, I hope like hell they are wrong.
Everyone can see that the PLP screwed up BIG TIME and essentially said to every unionised worker under the age to 60 “your pension will run out” and to everyone under 30 “you’re not getting a pension”.
Frankly, I see ignorant political rhetoric on BOTH sides of the fence. And I certainly would not use the comments on this forum, or any forum, as a gauge of support for the OBA. Because the truth is, they DON’T have the majority of support, and every poll since the last election has shown that if the next election were held tomorrow, it would either be a dead heat or a PLP win. And I think the OBA has successfully alienated enough groups of people in Bermuda (now, the seniors) to be very worried about the next election… especially when the PLP supporters who stayed home in December 2012 show up at the next election.
What would be your solution to our financial issues? Since you wouldn’t tackle the massively $2bn unfunded pensions, that your beloved PLP ‘forgot’ to audit for more than 4 years, in this manner, what would be your solution?
Let me guess promise ‘free’ things and hope for the best?
For one I am glad the OBA are taking the unpopular, tough but necessary decisions to try and salvage the public finances that the PLP mauled and destroyed in the space of 5 years. Your children (i.e. the future) will thank them in teh long run. I am glad that aren’t playing politics and trying to appease everyone for political gain by kicking the proverbial can down the road. The PLP played politics with our finances and look where it got us. And yes despite protestations from some the PLP is 85% responsible for the dire financial position we find ourselves in today. Only partisan zealots would argue teh opposite.
For the first time in a long time a political party is putting Bermuda as a whole first as opposed to themselves. A refreshing change from yesteryear.
So if your beloved PLP regained power, say today, do you think that they would have the ability to do anything differently? As you know arithematic doesn’t care about politics or politicians and neither do the creditors behind the numbers.
The PLP has been campaigning since December 18, 2012. The OBA has, despite the constant and useless political rants of the PLP, been trying to solve problems and lead by making the tough decisions. Sure, that’s going to make them unpopular in mid-term….
Wait until you see what happens when all those people who put capital into this country and all those landlords who rely on rents and all those Bermudians who are hoping for jobs from the infusion of capital…just like what we already have as a result of the OBA proposal for the Americas Cup..wait until you see how they vote when threatened with the sucking sound that will be heard throughout the land if there’s even a HINT that the PLP regains control…
That sucking sound will be the sound of everything worthwhile going down the drain….and, my friend, maybe we got away with it once…but next time…it ain’t coming back..!!
Talk to me when the OBA starts to even think about politics !!!!
ok …this is how we get bermuda, not just afloat, but flying again…we humbly ask that fine young Arabian chap to help us clear our deficit and leaving us with a billion dollar bank account and in return we give him permission to construct something similar to Dubai’s Palm Island out on our shallow n/w region…hmmm i wonder if that would attract attention…a desperate thought in a desperate situation.
PLP: The party who thought all they had to do was pull the magic race card. Who are now complaining that there is no money – after they chased all the money away.
Who now complain that the pension isn’t going up – after they got rid of six thousand people who were paying into – you guessed it – the pension.
PLP – go away – absolutely nobody is interested anymore.
Both parties have reason to be ashamed and perhaps’act’ a little humble.At least The ruling party seems to have enough savvy to shut up… for the most part.
Both political parties are useless. Providing nothing of substance to our island, only taking whatever they can get…plp put us in debt, oba doubled it. Good job, all of you!
And all of the lackluster supporters of either party have no original thought, constantly regurgitating this ubp, plp, oba rhetoric.
Lost in the bermuda triangle.