OBA: ‘Fall In Sales Should Set Bells Ringing’

October 17, 2018

“Another fall in the volume of retail sales  should set alarm bells ringing,” Opposition Leader Craig Cannonier said today, with Mr Cannonier going on to ask if the Government has a “plan to reverse this alarming drop.”

His comments follow after the release of the Retail Sales Index earlier today, which indicated that the overall volume of retail sales fell 4.9% in July 2018. The overall volume of retail sales also fell 10% in June 2018 , decreased 4.4% in May 2018, and dropped 7.8% in April 2018.

Mr Cannonier said, “Yet another fall in the volume of retail sales should set alarm bells ringing for the Premier and Finance Minister and leaves us asking: has Government got a plan to reverse this alarming drop?

“Not only do the latest figures show a fifth consecutive fall in the volume of sales, they show that they are lower than 2014 levels. While we could have expected a fall after the America’s Cup, to fall on pre-AC years shows that Government’s policy of increasing the taxes on Bermudians is having a very negative effect on the economy.

“We have seen a raft of new taxes, not least the Sugar Tax which is hitting Bermudians in the pocket and which is still to rise by another 25 percent to 75 percent, we have seen falls in the GDP, rises in health care costs – and a $1.2m payment to a former PLP Premier – and a drastic 20 percent fall in the level of business confidence.

“The Premier is intent on chasing the Fintech dragon – and we hope that is successful in creating jobs for every Bermudian – but he admits that will take time. However, if these falls in key economic indicators continue, time is something we have not got.

“The Premier can talk in nice headlines like ‘Government revenue is up” and ‘the deficit is down’ but that is due to the extra taxes he has imposed which are now hurting Mr and Mrs Bermuda – the very people he pledged to help.

“While he mingles with his billionaire Fintech friends, Bermuda moves closer to an economic abyss. Where is his plan?”

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Comments (41)

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  1. 2 Bermudas says:

    Spot on, Craig. And his billionaire Fintech friends don’t look like him either. Is he asking them about diversity or is that just a political gimmick?!

    De titty milk is real!! Ha ha ha!!

  2. watching says:

    Cannonier can talk about every and anything except Jetgate.

    • 2 Bermudas says:

      We know more about Jet Gate than we do about Derrick Burgess and Zane’s issues -Court Building Gate and Port Royal Gate. In both cases there are MILLIONS of taxpayer money in question is a $350k political donation!

      Keep drinking de titty milk!! Ha ha ha!!

      • LOOK UP says:

        I told you before that titty milk is more healthier than DUNKLEY MILK….so you really need to switch up fast.

        The OBAubp are overlooking JETGET and many other key things. I hear no possible change with how they as a party are operating. The same old style that left them with 25-11…..gotta do better than this….

        Looks the Same as before …Craig and OBAubp gang…..

        • 2 Bermudas says:

          Dunkley’s milk produced the Americas Cup. I’m still waiting for de titty milk and de Blockchain to produce a Bermudian job!!

          Looks like someone has had too much titty milk already!! Ha ha ha!!

        • Jt says:

          As you say…25-11. Why are the PLP and followers like you so concerned with the OBA? It’s your show now. Shouldn’t you be asking what the PLP are doing(not doing) that is creating another downward economic spiral? All the indicatorz are negative. Where is your concern?

    • red rose says:

      What about fourseasonsgate?

      • 2 Bermudas says:

        All sorts of ‘gates’ with these lot and all they want to talk about it Jet Gate and a $350k political donation! De titty milk got’em just saying anything!! Ha ha ha!!

  3. Jus' Askin' says:

    …the sky is falling…

    OBA still have not learned :-(

    What do You suggest Craig?

    We already know YOU can not be TRUSTED and YOU go back on YOUR own WORDS :-D

    FACT ~ Bermuda it is OVER ;-) ;-)

    • Yes says:

      What’s the OBA plan Cannonier? What would you suggest? Easy to spend $100 million on your billionaire friends for a boat race! What would you have done post AC?

      Oh lock jaw!

      • kevin says:

        you know you cant cure stupid …the AC generated 300 million dollars for this country …the only event to actually help this country in 20 years ….. Yes you are not the sharpest pencil in the box and no your lights are on but no one is home…you getting my gest

        • Thats $300 million projected which means the expectation for future return.
          I prefer titty milk then red kool-aid. For us straight men its a pleasure.

          • LocaliCartel says:

            No, not $300mn projected – $300mn REALISED impact on GDP. If you even know what that means.

            • LocaliCartel says:

              The above figure is not entirely accurate – $336mn is inclusive of, as you rightly noted, future legacy spend (c. $90mn). So a total of about 246mn has been realised. Not all money is denominated in coins.

      • kevin says:

        you cant cure stupid ….YES that means you the AC generated $300 million plus for our country …you wanna listen to Burt go ahead .. he has spoon fed you so much BS that you think they are the answer….here is a revelation when you don’t have the ability to have forward vision you can only live in the past …does that remind you of any government media news….Bermuda is doomed with the plp that’s simple go vote for them again … Never have and never will

        • 2 Bermudas says:

          You wasted too many characters on that response. I’ve just put it down to de titty milk!! Ha ha ha!!

          • steve says:

            bro, your punch line “de titty milk! HA Ha Ha” is becoming ridiculously funny

            • 2 Bermudas says:

              De things some people say makes me believe Alaska Hall hands out free titty milk shots everyday! Ha ha ha!!

      • Question says:

        We want to know what the PLP plan is. So far you are shrinking the economy, increasing the cost of living, shrinking the retail sector, increasing taxes on food, and reducing trash and bus services that ordinary people rely on. You are increasing the cost of healthcare and sending millions of taxpayer dollars to rich millionaires living overseas. So what the frikkin PLP plan? It would be nice if you created one single frikkin job.

  4. wahoo says:

    We don’t care because bitcoin gonna save us.

  5. Kevin says:

    Plan ? you asking for a Plan ? not coming , not coming today , tomorrow , next week, next month, next year. The incredible edibles the 24-12 champions of BS are now showing what they actually can do ……. not much…they can tax more but who are they taxing you and I they have not had one initiative show any economic progress …oh wait …they want a living wage instituted almost forgot that but who is going to pay it and who will lose there jobs because of it if forced upon companies. Burt and co are great talkers they convinced 52% of the people to vote for them but no Plan , when you don’t have the ability you just can’t make things happen….

  6. chart says:

    Noone is talking about the disaster of the payroll tax changes ….

    • Trump supporter says:

      Or even the national debt to hear how much it has increased. Unless the bitcoin has paid it off under the mat.

      • Jt says:

        No one in government has addressed any of the multiple negative economic indicators that have come out. Not one!

  7. Rocky5 says:

    Retail in Bermuda is dying a quick death. We’ll soon have lots of empty stores & unemployed staff!

  8. My name is Hyde says:

    Now we are being a good opposition; saying the things that need to be said.

    the overall volume of retail sales fell 4.9% in July 2018. The overall volume of retail sales also fell 10% in June 2018 , decreased 4.4% in May 2018, and dropped 7.8% in April 2018.

    Reality says it for us, it is called the writing on the wall. I gather 52% just can’t read, or if they can do not comprehend, unless they don’t care.

    I actually believe the last part of that, in that it was so important to bring down the Government no matter what it took, just like before.

    I am pleased the OBA is collectively helping us interrupt the writing,

    As for Jet Gate, I believe it was explained, it was not an excuse but it was explained, and the right thing was done at the time to rectify it.

    Keep up the good work,

  9. My name is Hyde says:

    Sp Interpret, should have used the spelling corrector but did not notice till after. Not that it was not understood what I meant.

  10. free 4 all says:

    Having not voted in the last election, I think both parties need to grow up. I agree with what most of what Mr. cannonier s saying, however to make the statement that ““The Premier is intent on chasing the Fintech dragon – and we hope that is successful in creating jobs for every Bermudian” is immature. Neither party can create jobs for “every” Bermudian.
    Just make your point and keep it moving.
    Fintech is PLP’s counter to the AC, but both are catering to the same crowd.

  11. Me says:

    Thr reality of this failed divisive government is starting to show we are back to the recession and debt that bitcoin will not save all we hear is spending while our debt is soaring

  12. Tea Pot Vs Frying Pan says:

    Well well it’s about time they elected a new opposition speaker aka Leader . I Wonder what started Jetgate ? The reason they even got to talking with that particular developer! Was it all the stalling from the opposition that caused the first deal to fizzle out ? Strange how they questioned those n then tried to get in bed with the other.

    • Red rose says:

      What about the four seasons trip?

      • Paul Revere says:

        I’m amazed that people are questioning a trip that never took place. To me it’s not relevant because all ppl are going on is a ticket booking and hotel confirmation, but no one actually went.
        Now we do know that people flew onboard a private jet, monies were transferred to an account, an account setup to fund the OBA, and those funds disappeared. Those are FACTS.
        So unless you can show me some FACTS in relation to a trip that NEVER happened, it’s gime to change the channel.

        • 2 Bermudas says:

          I guess you can also explain why Bermy doesn’t have a casino!!

          In de meantime have another swig of de titty milk!

        • Question says:

          It’s because (a) the people involved were supposedly political opponents, and a general election had just been called (b) they were reportedly planning to meet a person in New York to discuss something (c) they all had an interest in gaming in Bermuda
          They are the FACTS.

        • Jt says:

          We also know none of that is relevant with 25-11. What is relevant is what the PLP are doing with our economy right now. Jetgate or any of the past PLP “gates” are irrelevant. Why the reluctance from our government or any of it’s supporters to speak about the many negative indicators that are constantly being released?

  13. Wanda Rinn says:

    Well…as I see it…we look at what we need…
    The …we figure how to make it happen… advantageously….It should be a money returning prospect.

    I have it!

    Medical marijuana…medical tourism!…We could make our own and export it!

  14. Wanda Rinn says:

    Call it Bermuda triangle… We could hand roll it like cigars and sell it on the docks yes?

  15. Wanda Rinn says:

    Think of the revinue!!!!!!!!

  16. Wanda Rinn says:

    Money does grow on trees!

    • Charles says:

      Talking trees the plp should have put money in marijuana stock and getting dividends, real money