$33.1M For Estates & Information Services

Ladies and gentlemen of the media,
Mr. Robert Horton, Permanent Secretary
Mrs. Rhonda Woods-Smith, Senior Policy Analyst

Consistent with the Budget brand for the 2012/13 budget’ Let Us Build One Another Together’, I am pleased to highlight the key elements of the Ministry of Government Estates and Information Services 2012/13 Budget and to confirm our continuing plan to deploy the considerable assets and human capital of the Ministry to meet two overarching goals of the Government.

Firstly, to assist the Government’s need for creating fiscal space during the recovery by the deployment of assets more innovatively and secondly, to promote social cohesion in our community.

The Ministry of Government Estates and Information Services 2012/13 Budget allocation at $33 193 million allows this Ministry to meet our target aims. The aim of revenue raising for the Government is importance in the present climate.

The Government’s assets are vast and varied and, of course, my approach is to not have stranded assets that are costly to maintain but rather to use Government assets to hit achievable revenue returns.

In my former capacity as Minister of Telecommunications, I acknowledged the potential connected with the exploitation of Bermuda space assets including orbital slots that remain available for economic exploitation within the satellite industry. The leasing of orbital space slots or rather, the sale of the ‘space real estate’ can generate upwards of many millions of dollars.

Now under my current responsibilities for lands, commercial and residential buildings, the seabed and wealth under the seabed of Bermuda in the form of precious metal or mineral deposits, one can easily recognize the expanded compliment of Government assets.

Assets deployed by way of lease of Government sites for development by private sector developers and licensing of exploitation rights of the seabed are each potential revenue sources and highly attractive ways to realize revenue streams. Specifically, license of fees and savings on rent in the long term create fiscal space.

Further, supporting and driving entrepreneurship by rental or allowing business access to under utilized buildings within the Government inventory is yet another creative way to not only raise revenue but to drive entrepreneurship training and apprenticeships.

We anticipate that the sale or lease of properties excess to the needs of Government will raise substantial sums for the Government coffers.

Under the social cohesion aims, I wish to update you on ‘Cisco Academy Bermuda’ progress and to confirm our readiness to launch the Academy in mid-summer.

The important news is that the funding for ‘Cisco Academy Bermuda’ designated instructor to deliver the training to potential Bermuda trainers is falling into place so that a cohort of Bermudian instructors to carry the Cisco course instruction is achieved.

Discussions with our partners in the private sector have been most encouraging as we seek co-sponsorship of the cost to underwrite this phase of the initiative.

Closely aligned with Cisco Academy Bermuda, a wonderful IT project to deliver training for entrants who will emerge with Cisco certifications including CCNA is the other add on to Cisco, namely, the apprenticeships at the Prospect Depot.

We will carry out structural upgrades at the Prospect Depot’s trades section including plumbing, carpenters and electrical shops that will enhance the Government Prospect Depot’s ability to offer apprenticeships to young apprentices mentored by the Depot’s master craftsmen and tradesmen.

Both the Cisco Local Academy and the Prospect Depot Apprenticeship initiatives fit neatly into and align with the Ministry of Education’s Career Paths Programme and the Ministry of Economy Trade and Industry’s National Training Board Programmes.

Thank you.

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