What we need to know is:

1. What is the plan for debt reduction. Specifically.
– does it involve layoffs, furlough days or a combination of the two?
– is the government looking at the size of the civil service?
– is the Government looking and value proposition of having certain government department carry out works that could be done better and cheaper by the private sector?

2. What is the plan to grow the economy and how do we balance that with ensuring the Bermudians get a fair shake in their own Country with respect to jobs?

– They also need to carry a message to a portion of our people who think it’s perfectly acceptable to consistently deliver substandard work. That comes at a cost for all stakeholders.

There are far more pertinent issues to be sorted out than do attempt to assign blame for the debt. Anyone with half a brain and a modest understanding of finance can plainly see where it went off the rails.

It’s done now. The question is, what are we doing about it. Specifically.

1- “The first issue I comment on in the “Other Matters” section is to draw attention to the level of the Consolidated Fund’s increasing net debt,” said Thomas. “As at March 31, 2018, the net debt is $3.8 billion, an increase of $63 million over the last fiscal year”

2- “It is important that Parliament and the public understand that the Consolidated Fund financial statements are not summary financial statements of the Government of Bermuda and, therefore, do not represent the full nature and extent of the overall financial affairs and liabilities of the Government of Bermuda…They do not include the financial results or the financial position of other Government-controlled organizations, such as the Bermuda Hospitals Board, the Bermuda Housing Corporation, and the Bermuda Land Development Company Limited, through which significant financial activities of the Government occur.”

Qualified Audit Opinions, that is.

What is this capital expenditure on??????

3.8billion debt with debt increased by 63 million up to March 31….since then the govt has increased the debt and the total cost of the debt again with the recent refinancing.