OBA: Govt Must Outline Economic Stimulus Plan

February 16, 2019 | 29 Comments

“Government must urgently outline its economic stimulus plan and explain how it will increase the resident population as Bermuda cannot afford more falls in the retail sales volume without jeopardizing Bermudians’ jobs,” Shadow Finance Minister Nick Kempe said.

Senator Kempe said, “Earlier this week, we had Walton Brown telling us that GDP was up – even though that was due to OBA initiatives such as the airport development – but what he did not address in his press conference was that consumer spending was down.

“The GDP report, for the third quarter of 2018, said, ‘After adjusting for inflation, household final consumption decreased with households spending less year-over-year on clothing, electricity, motor vehicles and fuel’.

“Now we have further confirmation of declining consumer confidence and spending with the latest retail sales volume figures – which show an eighth successive fall.

“But despite this, Government is still intent on introducing even more taxes to maintain the size of Government despite a falling population requiring fewer public services.

“Increasing the tax burden at a time when the local economy is in an extremely fragile state is counter-productive as more taxes take money out of people’s pockets that could be spent in Bermuda.

“One proposed tax will increase the cost of foreign currency, making all retail goods more expensive as well as unfairly affect employees of local businesses earning in Bermuda dollars.

“Retail is a protected sector that employs many Bermudians. Lack of action to boost the local economy will inevitably cost Bermudians their jobs. Where is Government’s economic stimulus plan to stop that happening?”

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  1. So good to hear says:

    You know it’s too hilarious at this point when these OBA lot come up here and run their mouths but cant really show us the long term plans that was put in place to benefit ALL OF US and not the select few who they cater to. If they was so great when they was in power why do they run from the fact that the debt was doubled and a further 2000 ppl lost employment under them? I know that’s been repeated over and over but they haven’t answered any questions on this FACT. On top of that the Jetgate issue…more unanswered questions on a lot of things that happend under the OBA but now as opposition they try to sit there and be the moral authority from a bunch of amoral pop. I mean senior citizens were pepper sprayed and instead of you showing any remorse for your grotesque actions, your worrying about the payouts from settlements on the issue. At this point we dont believe nothing that comes out of your mouths. Now as for the PLP time is against you so you all do need to hurry up and get the ball moving more. PlP yes you are moving in the right direction and Fintech will take time and us honest ppl do see the movements in that. Now we have to move forward on other initiatives amd issues affecting the average Bermudian.

    • So good to hear says:

      *ppl

      • Double S says:

        If you think that was the only grammatical error you made in that almost incoherent post, then read it again. And going off your below average grasp of the English language I will say that you haven’t a clue about fintech or can spot any ‘movements in that’

        I’m going to break the law next week. Can I get paid for doing so as well?

    • Mark says:

      “If they was so great when they was in power why do they run from the fact that the debt was doubled and a further 2000 ppl lost employment under them?” answer: because that’s not true

      “On top of that the Jetgate issue” answer: how does that relate to our economy?

      “I mean senior citizens were pepper sprayed and instead of you showing any remorse for your grotesque actions, your worrying about the payouts from settlements on the issue.” answer: you mean the illegal riot? and they get paid for it?!? now where is your moral authority on this one? surprisingly absent

      “Now we have to move forward on other initiatives amd issues affecting the average Bermudian.” answer: exactly, that is the point, they are doing nothing to help the average Bermudian but instead, raising the cost of living! how can you not see that? blinders

    • Donderered says:

      Do you mean those long term oba plans like the airport and hotels that increased gdp, as told by walton brown this week.

    • Red rose says:

      I am comforted by the fact that your comment is so absurd that no-one will be able to take it seriously.

    • Anonymous says:

      Are you serious with this? I trust the OBA far more than the PLP with regards to the economy. They have a far better track record. No matter how the plp try to spin it you cannot deny that all the initiatives that were put in place by the oba (america’s cup, cruise ship calls to st george, hotel going up in st george, the triathalon races, cutting back of the bloated civil service ect, need I go on…) were good for Bermuda and benefitted everyone. We would be far worse off had it not been for their timely intervention and its no wonder they’re frustrated, because the plp seem determined to undo all their good work.

      Don’t even get me started on that pepper spraying nonsense. I really hope that issue us over and done with now because if I hear about it again I’m libel to go off it. Why the hell were those idiots paid? They should have thrown the lot if them in jail not paid them! And how did we arrive at $225000??? The statement said the complainants were paid anywhere from 5-8000 dollars. I was under the assumption that only a small number of people were actually pepper sprayed (less than 10). I guess this is the plp’s idea of an economic stimulus package. Ridiculous.

      And the crazy thing is thier supporters will defend them until the cows come home while everything is burning down around us. I hope and pray that these jokers do not get voted in again. If they do I’m going to england before that option is off the table.

  2. Ringmaster says:

    Bermuda will suffer more as the PLP have not learnt from their mistakes made in between 2007 and 2012. Worse, the same people are still MPs and have no business experience and continue to pander to their voter base to the detriment of that base, and all Bermuda. Despite all the warnings given to hem since 2007 they have ignored realty and think election slogans and behaviour will create prosperity. Will Premier Burt make a public appearance soon or will he continue to let his MPs run around uncontrolled, floating stupid ideas which get shot down as soon as they open their mouths?

    • Onion Juicer says:

      Bermuda is now a full blown Ineptocracy “A system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.”. The reality is this next budget will kill what’s let of our free falling economy. Current confidence in this Government is at an all time low and you can feel the desperation in the air when you talk to people. Even DREB must be worried how he is going to keep his $1.2milliin windfall intact.

    • Eyes wide open says:

      What is the oba=UBP plan besides changing the name and leaders every year. When will they Come Correct and admit why they tried fooling voters. UBP why did so many black voters leave your house? Your only solution was to change the name over night. You will lose the next election until you Come Correct.

      Craig $300k with no answers will be replaced with UBP Nick Kemp. WAIT 4 It.

    • Toodle-oo says:

      Why the 2007 thing ? It started right off the bat in November 1998 with ‘at your own peril’ .

      • Ringmaster says:

        2007 because I give the PLP the grace period up to then before the carnage began. Eugene Cox held the PLP in check and was a good Finance Minister. His loss was I believe a major cause of the deliberate destabilization of Bermuda that paused between 2012 and 2017 but has begun again.

        • Paul says:

          I can not beleive Premier Burt, thinks that the general public believe his accusations regarding the media,and blames them for his failures….if that be the case it goes to show you the idiots he dealing with.

  3. Nick Kempe, you have had your own stimulus plan.
    YAWN!!!
    What are you doing with your millions.
    Share. Your America Cup Bermuda did not share.
    You and Dunkley share your riches.
    You are human???

    • Mark says:

      lol what?!? was that English? what u smoking bie? lol

      • Anonymous says:

        He must be having a stroke. Hea making even less sense than usual, not that I ever pay attention to him at all.

        Hey straightforward, how much is the PLP paying you? Because if you aren’t getting paid its pretty sad.

    • 2 Bermudas says:

      Ya ya, and your premier is an ex Saltus student. Go figure!! Hahahaha!!!

  4. Dready says:

    The OBA will go nowhere with the Cannon in charge. Hahaha!

    • Remember. says:

      Craig Trump will save the OBA and return the 300k we have leader that we believe in.

      What type of fools do you they are. Put Dunkely back in and stop the we need a black leader to win back black votes again. Just as bad as the PLP.

      This is not 1980s when you used Mr.John Swan to smile and generate votes from the black community for the UBP.

    • aboogiewitdahoodie says:

      well guys already going nowhere with burt in charge. Hahaha!

    • 25 vs 11 all over again says:

      They going to lose the next election is their NOWHERE until they confront their past mistakes.

    • Sandgrownan says:

      And there’s the problem. You see this as a team sport – us against them – and all the while, Bermuda burns.

      Clueless

  5. Blinded by the stupidity says:

    If you speak to anyone in the business community, it is clear that there is zero confidence in this Government. They don’t have an economic plan and it’s clear they never did. They manipulated voter emotion to make everyone forgot the epic damage they did to the country their first go around. Now the reality that this leadership is absolutely clueless and have zero business sense is hitting home hard and the country would be much better off under the OBA. Voters remorse. We let the bamboozlers and tricksters manipulate us again.

    • Adklee says:

      When in Opposition, the PLP should’ve been thinking “What can we do”?. Instead they only concerned themselves with “How can we win”? And win they did, by winning over a lot of folk that were unjustifiably outraged by a false narrative. PLP won. Now Bermuda is losing.

  6. PANGAEA says:

    There is presently no business plan.

    Learn to go with the international flow.

    Business is the ability to be able to manage products and money.

    Never spend your principal.

    Where is the cherry on the cake.

    You all had beter start offering discounts.

    Those who live with debt will die with debt .

  7. Ringmaster says:

    There is no plan as there is no leadership. Premier Burt trumpeted Fintech but now it’s clear it won’t be a third pillar he disappears and sends out his lackeys with idiotic ideas, most of which are to add more tax to the dwindling private sector population and call it growth.

  8. Rocky5 says:

    The PLP has become the OBA – ONE BIG A##HOLE

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