PAC To Deliberate On America’s Cup Funding

February 10, 2015

[Updated with location change] The Parliamentary Standing Committee on the Public Accounts will conduct a Public Hearing on Thursday, 12th February 2015 at 2:30p.m. in the Library at the House of Assembly.

“It is expected that the Standing Committee will deliberate on matters relating to public funding for the America’s Cup, and hear testimony from the Permanent Secretary for Economic Development,” a spokesperson said.

“The Public Accounts Committee is comprised of Members of Parliament and is authorized by the House of Assembly to closely examine and report on matters relating to the accounts showing the appropriation of the sums granted by the Legislature to meet the public expenditure of Bermuda.

“The committee also investigates findings reported by the Auditor General in the Auditor’s Annual and other Special Reports.

“The current Chairman of the Committee is Mr. E. David G. Burt. Members of the public are invited to attend and observe the hearing to be held in the Library at the House of Assembly.”

Update Feb 11, 9.05am: The story has been amended to reflect the announcement that the meeting will be held in the Library at the House of Assembly and not in the Senate Chamber at Cabinet as the Government stated yesterday.

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Comments (21)

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  1. Skinky says:

    Pretty funny that the committee (currently chaired by the Opposition) jumps to smear this huge opportunity for Bermuda but drags its feet dealing with any other report – which these days includes mainly coverage of the Opposition’s own failures while in office.

    • Not exactly says:

      Agreed. When will we see the final report on Port Royal, Heritage Wharf and Berkeley. I would like to say that I expect better of Burt, but unfortunately I don’t.

      • umjusayin says:

        SMH! The OBA/UBP could have and should have been more agressive in questioning the former administration on financial matters. Instead as government they have a mandate of “well they did it”. Please spare me! Keep up the good work MP Burt, the people appreciate your efforts.

  2. O'Brien says:

    When will they discuss the Port Royal report?

  3. Family Man says:

    Does this mean the discussion of the Port Royal fiasco is over?

  4. aceboy says:

    What about Port Royal? As I suspected it is being covered up by the PAC rather than being investigated. In fact no investigation is even necessary, the Auditor General has already done it. The PAC just need to call the cops.

  5. swing voter says:

    what a joke. I can guess who is driving this investigation and why. Funny how the table turns

  6. Coffee says:

    What they will find is that the funding earmarked for this two year Beyoncé concert was/is being appropriated from the furlough days sacrificed by the Bermudian civil service .

    • sandgrownan says:

      Even by your standards, that’s pretty stupid.

    • Creamy says:

      Because it will create jobs for Bermudians. Which you hate to see, we all know.

  7. Onion says:

    So we’ve had how many Auditor Generals reports on various projects and all they want to talk about is the America’s Cup?

  8. Ace girl says:

    Mr Burchall you are extremely kind in your response to the BTA, providing them with the glaring facts on the tourism product’s inadequacies. However, did we require an expensive empire building group such as the BTA to highlight the obvious? It was my understanding this group was the problem solvers. We know the issues…so what is the BTA going to do about them??? In this time of shared sacrifice do we honestly need a group of highly paid individuals to tell us what we already know. So from an economic perspective what has been the return on our $21 million investment per annum? Bob you need to look at the ROI on this group, or add an accountability clause with a timeframe to get at least some results.

  9. smh says:

    Bermuda will take a lost as San Francisco did not so long back. Keep letting the Government trick you into thinking this will fix the economy. This is a temporary ploy to make the ppl happy for the next election! Don’t be fooled by these politricks!

    • aceboy says:

      Instead let’s celebrate on Front Street, pull all the kids out of public schools and bang drums and dance….that will really help.

    • Come Correct says:

      No one ever said it would fix the economy. The most that may have been said is that it would help to stimulate the economy. Why is there a hand full of you that keep repeating this lie? Do you hate this island?

    • LOLOLOLOLOLOLOLOL says:

      Just as Sir John has been saying. Americas Cup is a temprary fix to a major problem.

  10. agatha christie says:

    Two things:
    1. I hope Mr Burt and the committee continue to hold ALL PAC meetings in public.
    2. This is clearly being done for political gain, but it is a dangerous game to play ….

  11. Unbelievable says:

    I don’t get some of you. Can you imagine if we didn’t have the AC? Look at the millions of dollars that would not have been spent if it didn’t come here.
    It’s been said already, this will not solve all of Bermuda’s problems but it has opportunities.

    Get into it or don’t.

  12. SMH says:

    The PAC is holding a meeting..for an event that hasn’t even happened yet? Only in Bermuda! SMFH

  13. Jinky says:

    Interesting…

    San Francisco AC34 Impact Analysis February 2014 – conclusion extract:-

    ‘Because both the America’s Cup Organizing Committee’s fundraising and tax revenues generated by the America’s Cup events fell short of the original projections, the City’s General Fund incurred net costs of $6.0 million and the Port incurred net costs of $5.5 million, totaling $11.5 million.
    As a result of these net costs to the City of $11.5 million, any agreement between the City and the Event Authority to host a future America’s Cup should require payment to the City for use of City property and for City services, other than services routinely provided by the City.’

    http://www.sfbos.org/Modules/ShowDocument.aspx?documentid=47894