Video: SAGE Commission Meeting In St George’s
The SAGE Commission has warned that Bermuda is at a “financial tipping point” and if we don’t get this right we “lose the chance to be the architects of our future.”
The Commission is holding a series of public meetings this week to provide the public with an update on their progress in addressing the issue of Government efficiency and spending.
The first one was held on Monday in Somerset, and the second one was held last night [Sept 17] in St George’s. The meetings feature presentations by Chairman Brian Duperreault as well as the chairs of the Commission’s committees.
According to a slideshow presentation shown at the meeting, if conditions do not change and we continue to run a primary deficit like the last 5 years interest payments on our national debt could amount to $273 million per year or about one quarter of Government revenues.
As far as performance issues, the SAGE Commission said, “Some government workers are required by their bargaining agreements to be at work by 7:30am; management policy requires them to wait for their manager to begin work, and he is not required on the job, until 9am.”
2 hour video of the SAGE Commission meeting in St. George’s:
The Commission’s final public meeting for this week will be held on Thursday [Sept 19] at Mount Saint Agnes Auditorium in Hamilton, starting at 7pm.
The 61 page slideshow presentation is below [PDF] below:
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One of the more interesting revelations last night was the fact that the public pensions have not been audited since 2005!
Couple that with the four consecutive qualified audits issued by the AG, it is no wonder we are where we are these days.
How could the former Government be so reckless and careless with the people’s money?!
Judging by the turnout….sometimes I wonder if we really care. I’m surprised we’re jus satisfied getting a pay check, not bothered if our Govment has to borrow from Peter to pay Paul. One absolute is that there will be no pension fund for me to collect in 20yrs
SAGE: stop scaremongering and get on with it!
When the pensions dry out there will be hell to pay. Especially after Joe Public public has put into it for so many years. Sort it out Government and SAGE!!! Hold people accountable!!!!!!!!!
plp spent it all away.
Correct Nuffin.
Funny! 144 comments on the article below this regarding homophobia and then 6 regarding our Island’s impending economic peril. It is true, the electorate does not understand that the previous government has driven us to the point of financial ruin and bankruptcy- maybe that is why the sheep voted them in for so long!? Hope everyone is ready for some hard times ahead. When we can no longer pay our debts we will be a truly third world nation, with poverty, starvation and squalor. ‘Putting Bermudian’s first’- What a farce the PLP turned out to be!
And almost re-elected them! Let’s not forget that the election was extremely close.
And other people (quarry)by contract start to work at 7:00 am, but real time work is a 9:00 am as they complain about the danger on roads in pick hrs, so under syndicate protection, they wait 2 hours at the quarry or onsite before start to work……so government actually paid 2 hours for nothing…..
Ya and de Politicians get paid twice as much for doin less. LMAO
Where is the money 2 SAGE! STOP beating around the bush and get the people accountable for our financial ruin! This absolutely SCARY for a young man like me to hear! Go get the F***ing B***ards! Brian u said in the media today we need to hold our MP’s accountable well lets have it! U know who they are its not hard 2 see! The PLP screwed us and they are getting away with it!
Slow and steady wins the race.
When he says “hold your MPs accountable” I think he means all our MPs, whether PLP, UBP, OBA or independent. They are all setting the direction of government and the country. They represent us in Parliament, they need our votes to stay there, so hold them accountable. The leading party and the opposition and independents ALL have an important role to play in fixing things. In other words, we each need to call our MP, whomever s/he is, and tell them what we think.