‘Promote Abroad, Safeguarding Future At Home’

January 4, 2019 | 13 Comments

“Promoting economic growth here at home requires us to safeguard Bermuda’s interests overseas,” said Premier David Burt, as he set out how the Government of Bermuda will interact in key overseas jurisdictions in this new year.

Washington DC

Premier Burt said, “In 2018, much of our attention and resources had to be diverted to deal with the assessment of Bermuda’s anti-money laundering and anti-terrorist financing regime by the Caribbean Financial Action Taskforce [CFATF] and later in the year, to address the issues of economic substance requirements imposed by the EU.

“With much of that work done and now that the balance of power has shifted in Washington DC, we will take this opportunity to renew our efforts to staff-up the DC Office.”

“The public will recall that pending the re-opening of the Government’s office in Washington DC, the Cabinet Office has continued lobbying efforts on behalf of the Government of Bermuda through The Group, a Washington-based lobbying organization that provides US regulatory guidance to the Government.

“With the investment in the infrastructure and the prime location of the office, the space has been retained and will again be the location of the Government’s office in Washington DC.

London

“The London Office and its team of experts have been invaluable since opening. Our constitutional arrangement demands close links with the UK and it is critical that we have firsthand knowledge of the workings of Westminster.

“With Brexit looming for the UK, the London Office has kept us, here at home, fully briefed and strongly advocated for Bermuda to address any impact the UK’s exit from the EU might have.”

Brussels

“Currently, the Government of Bermuda has a contract with Steptoe which is shared between the Ministry of Finance and the Cabinet Office. Steptoe provides professional services on European and international law and policy.

“They assisted with the Government’s response to the European Union Code of Conduct Group/Economic Substance, issues pertaining to Brexit and EU matters as directed.

“The need for direct interaction with the EU has been shown in the months of work that led to the adoption of the Economic Substance Act 2018. Like other jurisdictions, Bermuda has become an international target of European, localized politics.

“This threat can and will be met by direct engagement in Brussels on behalf of the Government of Bermuda. I am pleased to confirm that an office location has been identified. Before the end of this month, we will have established a presence in Brussels.”

Conclusion

“To ensure we have the ability to create the conditions for continued economic growth here at home; to deliver on our promise to lift up people in need of help; and to create opportunities for young people investing in education here and abroad, the Government is determined to lead the management of our international relationships to the benefit of the people of Bermuda.

“Our investment in these global activities is designed to promote our interests abroad while safeguarding our future here at home.”

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Comments (13)

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  1. Not exactly says:

    “To ensure we have the ability to create the conditions for continued economic growth here at home…”

    Lol what growth? Taxes? Healthcare costs? Political entourage? Certainly haven’t seen any economic growth under Burt!

    • Trump supporter says:

      Seen air miles grow, the debt grow. Isn’t that growth:)

    • Somuchless says:

      Yes you have. Expending their pockets kinda growth and traveling the world kinda growth.

    • Question says:

      You spent the first year dragging your heels on work permit applications and the economy shrunk by 7%.
      You are making a huge effin mess of running the country. As always.

  2. DeOnion says:

    Umum how does having a very expensive presence in these three countries aid economic growth – i notice that, as well as the cost, goes unexplained. More spending …

  3. Kevin says:

    Spend Spend Spend ….no change and didn’t expect any …Burt wants you to tell you how he is spending your money …only a deflection on the waste back here at home…when you have no ideas you can’t create
    Welcome to your new and not so new Bermuda you voted this lot in … and the only economic increase has been attributed to new taxes
    congrats green machine …you got what you voted for

  4. And you will not see any growth either bc him and his mates donnot have a clue on how to govern this island. We will keep seeing what we have been seeing NOTHING….

  5. J J says:

    Thank you Premier Burt. 2019 looks like a tough year for us at home and overseas. Best wishes. I think everyone would agree that you have an massive challenge on your hands to make your excellent vision a reality. You have the personality of a statesman, now we wish you all the best and eagerly await some jobs, retail growth, immigration reform to boost internal demand on goods and services and some progress for the poorer partnwrs of the two Bermudas.

    • Kevin says:

      and what planet you live on …..what a joke …you actually believe he has a vision that could work

  6. Double S says:

    “Continued growth” of what? Debt and taxes is the only thing I think of that is growing as of now.

  7. eyes wide open says:

    the green plague needs to be stopped

  8. Joel says:

    By they time the masses figure them out our money will be gone and left with a bigger debt it’s all about getting their pots full and then they hit the road

  9. Razz says:

    Lets keep our government in prayer. Thats the best thing we van do for them. Pray God gives them wisdom as they move foward in 2019.

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