Premier On 2024 Joint Ministerial Council
Speaking in the House of Assembly today [Nov 29], Premier and Minister of Finance David Burt provided an overview of his recent trip to London for the Joint Ministerial Council.
The Premier’s full statement follows below:
Mr. Speaker, Honourable Members, and the public will be aware of the annual trek to the UK required of Premiers, Chief Ministers, and other elected leaders to meet with Ministers of His Majesty’s Government for the Joint Ministerial Council. The Joint Ministerial Council [JMC] is the highest political forum between the UK Government and Governments of the Overseas Territories. I rise today to share the details of this productive trip.
Mr. Speaker, the new UK Government has stated that it seeks a relationship with its remaining Overseas Territories that is strong, based on a modern, respectful, and engaged partnership. Over the years, this Government has developed a solid foundation with not only UK Members of Parliament but senior civil servants. From our continued efforts, the new Labour Government are well acquainted with Bermuda’s constitutional, historical, financial, and political standing.
The UK Government recognises that the relationship between the UK and its Overseas Territories is an evolving one. As such, and in conjunction with colleague leaders, the Government of Bermuda supports a new UK White Paper that addresses the advancement of all territory constitutions and recognises our collective responsibilities as the existing 2012 White Paper has reached its maturity.
Mr. Speaker, the new UK Government has set out five principles towards the Overseas Territories:
- Devolution and democratic autonomy – establishing clear consistency on constitutional principles of partnership and engagement.
- Listening – firmly believe in the principle of “nothing about you without you.”
- Partnership built on mutual respect and inclusion involving all Government Departments, not just the Foreign Commonwealth and Development Office.
- Rights come with responsibilities – shared values of the British family include a robust commitment to democracy, the rule of law and liberty, and the protection of human rights.
- Advancement of good governance – ensuring proper democratic accountability and regulation.
Mr. Speaker, I was encouraged by the engagements with the UK Government, which included a meeting between Overseas Territory Leaders and the Rt. Hon. Keir Starmer, Prime Minister; the Rt. Hon. David Lammy, Foreign Secretary, and Stephen Doughty, MP, Minister of State for Europe, North America and the Overseas Territories, who chaired the Joint Ministerial Council. During our interaction, the Prime Minister reiterated his unwavering support for Bermuda and all Territories, recognising the Overseas Territories ‘ironclad’ commitment to democratic autonomy and the right to self-determination.
Mr. Speaker, I held a Bilateral with our Minister for Overseas Territories, Stephen Doughty, in which Her Excellency the Governor was in attendance. I expressed the need for Bermuda to seek clarity on a range of matters:
- First and most importantly, the review process for constitutional reform which is unique to each Territory;
- Second, the support from UK Government on Bermuda’s implementation of the Global Minimum Tax Initiative through the introduction of our Corporate Income Tax regime.
- Third, the shared concern to address the violence facing our communities.
Mr. Speaker, I found the Minister to be committed to the principles set out, and this has persisted since his time in Opposition. Our engagement is long-standing, and I am confident, with a senior Minister afforded to Bermuda by the Foreign Commonwealth & Development Office, our priorities will be well represented across all UK Government Departments. Further, it is worthwhile noting that under Minister Doughty’s leadership, all UK Government Departments have been assigned a Minister with responsibility for the relationship with the Overseas Territories and meet regularly to address issues important to the OTs.
Mr. Speaker, I further held a Bilateral with Economic Secretary to the Treasury & City Minister, Tulip Siddiq, MP. Given international business’ importance to the Bermuda economy, it was important to share Bermuda’s progress on the implementation of Corporate Income Tax. Additionally, I reiterated the view that the relationship between the City of London and Bermuda is a symbiotic one that strengthens both sectors. City Minister Siddiq welcomed Bermuda’s next phase of our tax regime and was fully aware of the importance of Bermuda’s insurance industry to the UK economy.
Mr. Speaker, During the JMC, Minister Stephen Doughty was joined by Dan Jarvis, Minister of State at the Home Office, to address the Foreign Secretary’s campaign to tackle illicit finance. I reiterated Bermuda’s position on Central Registers of Beneficial Ownership. Bermuda already provides information to relevant authorities.
Bermuda has a long-standing commitment to financial transparency, and as such, Bermuda and the UK will continue to cooperate, including through technical forums and international fora, on anti-money laundering, sanctions enforcement, and all efforts related to tackling illicit finance.
Mr. Speaker, I was accompanied to the JMC by the Honourable Member, the Minister for Economy and Labour, as Economic development and diversification formed a central theme of the meetings. The Honourable Minister for Economy and Labour led the economic diversification session on behalf of Bermuda, and this session was co-chaired by Douglas Alexander MP, Minister of State at the Department for Business and Trade, together with UK Export Finance officials. Discussions were based upon the promotion and encouragement of trade and investment in partnership, as both are key engines of prosperity. The outcome of our discussions saw commitments by the UK Government to continue to work with Bermuda in the following areas:
- Explore Territorial Extensions under UK Free Trade Agreements
- Investment Summits with participation from Overseas Territories
- Trade Missions to Overseas Territories
Mr. Speaker, It was imperative that we addressed the issues relating to Security. With the Rt. Hon. Lord Hanson of Flint, Minister of State at the Home Office, we were keen to focus on areas in which this Government requires a more defined approach as to the UK’s obligations regarding internal security. As such, we agreed for the Home Office to define and articulate its offer regarding continued guidance and support on tackling cyber-crime for all Territories. This includes a commitment to continue to work with all Territories to improve incident management and response.
Mr. Speaker, Bermuda, together with all Overseas Territories, represent 94% of the UK’s total biodiversity. We represent the largest component of the UK meeting its international conservation obligations. Bermuda is recognised as a steward for internationally important and unique environments and ecosystems. Much of this recognition should be credited to the work of the Honourable Deputy Premier and Minister for Home Affairs, and his continued efforts to showcase Bermuda’s commitments to addressing the effects of climate change. As a result of this continued advocacy, the following has been agreed with Kerry McCarthy MP, Minister for Climate at the Department of Energy Security & Net Zero:
- The London Office is working together with FCDO, UK Department for Environment, and the UK Department for Energy alongside all Overseas Territories, to develop a proposal for an Overseas Territory Climate Resilience Facility. This work is a result of the Honourable Deputy Premier’s tireless engagement at various environmental forums, particularly commitments made at COP 29 in Dubai.
Mr. Speaker, the public would be keen to know that conversations are also being held to secure commitments relating to education, healthcare, and public health together with the UK Department for Health and Department for Education. There was recognition of the crucial role of coordinated health and education support for young people. Together with the London Office in coordination with Bermuda Government Departments, we will explore with the UK Government to review their offer of support on the following areas:
- Opportunities to share experiences in accessing pharmaceutical supply chains
- Support healthcare emergency training such as mental health
Mr. Speaker, while in London, it was important to maximise my time and ensure to meet with key stakeholders from our insurance and reinsurance industry. The first of these meetings were held at Lloyd’s of London with CEO Mr. John Neal, including representation from Bermuda’s industry such as the Association of Bermuda Insurers and Reinsurers. I was accompanied by the Financial Secretary, Chidozie Ofoego, and Craig Swan, CEO of Bermuda Monetary Authority. During this meeting, we spoke to the strong partnership between the Bermuda market and Lloyd’s of London.
A visit would not be complete without visiting a strong supporter of Bermuda’s industry, the Governor of the Bank of England, Andrew Bailey. We discussed developments in the insurance industry and how continued partnership benefits the UK and Bermuda market relationship.
Mr. Speaker, apart from the high-level meetings, the highlight of the visit is always the Student Dinner, which provides an opportunity for those young Bermudians pursuing higher education in the UK to engage directly with both me and others in the Public Service. This was inspiring due to the talented young Bermudians and their aspirations to contribute to Bermuda in the future.
Mr. Speaker, I wish to conclude by noting that this year, the London Office is observing 15 years of service to Bermuda. The office, the first of our overseas representations, plays a pivotal role in establishing and representing Bermuda’s interests on the international stage. The continued work to uphold Bermuda’s diplomatic function and work with the UK Government will reaffirm Bermuda’s role as a respected voice in the UK and amongst the Overseas Territories.
On behalf of the Government, I thank the team of the London Office, led by Ms. Kimberly Durrant, for the continued stellar service they continue to provide on behalf of Bermuda.
Thank you, Mr. Speaker.
