FDM Responds To 2025 Throne Speech
“While we acknowledge areas of alignment, we also highlight critical concerns and significant risks associated with certain proposals,” the Free Democratic Movement [FDM] said in response to the 2025 Throne Speech.
FDM Leader Marc Bean said, “The Free Democratic Movement [FDM] appreciates the opportunity to respond to the 2025 Throne Speech. While we acknowledge areas of alignment, we also highlight critical concerns and significant risks associated with certain proposals. Additionally, we recommend key initiatives that the government should implement within its first 100 days to generate immediate positive impact. We encourage the government to consider these practical and constructive proposals.
Common Ground and Shared Goals
“We welcome several government initiatives, including the reduction of import duties to lower the cost of essential goods, an effort aligned with our economic policy. We also support modernizing the Landlord and Tenant Act to establish equitable practices, which reflects our longstanding advocacy for balanced property laws.
“Additionally, while we strongly support the principle behind the proposed rent-to-own schemes as a pathway to increasing homeownership, our approach differs slightly; we recommend explicitly targeting tenants of the Bermuda Housing Corporation [BHC] and Bermuda Land Management Corporation [BLMC], an aspect not clearly outlined in the government’s current proposal.
“We also support removing mandatory connections to BELCO, as this promotes consumer choice and advances renewable energy alternatives. Additionally, we cautiously endorse the creation of an Education Authority, provided this entity can operate independently and, in the students’ best interests. We also support the proposed amendments to the Education Act 1996 as we recognize inclusivity is useful in some instances, and in other instances dedicated special education schools are the best fit. Updates to the Children Act 1998 also reflect our shared commitment to safeguarding vulnerable youth.
“We support the government’s review of the Mental Health Act 1968 and advocate for a comprehensive approach that prioritizes treatment over punishment. Mental health parity is essential, ensuring conditions like depression and anxiety receive the same level of care and support as physical health issues. Strengthening outpatient treatment, therapy, and reintegration programs will provide those in need with real pathways to recovery and stability.
Critical Areas of Concern and Risks
“Despite areas of agreement, we hold serious concerns about several proposals that risk negatively impacting Bermuda’s economy and governance. Expanding the Cost-of-Living Commission’s investigative powers to extensively scrutinize private businesses will undermine investor confidence, economic growth, and stability. Similarly, extending the Regulatory Authority’s oversight into previously unregulated sectors risks increasing bureaucracy, reducing market flexibility, and discouraging innovation and investment. Such interventions represent an overly restrictive approach and risk exacerbating the very issues they aim to address. Our firm position is that promoting competition, not implementing heavy-handed regulation, is the most effective way to address Bermuda’s economic challenges.
“Regarding the Corporate Income Tax [CIT], while the law has already come into effect, we strongly advise against over-reliance on uncollected revenues. Given the Government’s track record of fiscal mismanagement, prematurely counting on uncertain revenue streams poses significant financial risks. The FDM recommends holding 80% of CIT revenues in a dedicated account for five years before exclusively utilizing these funds for debt reduction. This conservative approach ensures responsible and effective management of public resources.
“We also express caution regarding the establishment of a Sovereign Wealth Fund. Such funds typically benefit nations operating budget surpluses, not those with substantial national debts. Therefore, we advise careful consideration and fiscal discipline regarding such initiatives.
“On environmental policy, we agree with pausing new marine protected areas until improved enforcement measures and data collection practices are agreed upon with local fishermen. Nonetheless, we remain opposed to the Bermuda Ocean Prosperity Program [BOPP] in its current form due to insufficient inclusion of local fisheries stakeholders.
“We recognize the government’s proposal to amend the Tourism Investment Act 2017 to support smaller guest houses and health-related tourism. However, current infrastructural issues, particularly limited accessibility for differently abled individuals, must first be resolved before pursuing medical tourism effectively. Additionally, and with a broader view, we propose replacing the Bermuda Tourism Authority [BTA] with a privately funded Tourism Stakeholders’ Council led by the private sector to drive innovation and marketing without taxpayer funding. Even though we need to see major changes in the BTA, it must be noted that the decline in tourism reflects broader governmental shortcomings.
Recommended Actions for the Government’s First 100 Days
“To immediately ease economic pressures, reduce the cost of living, and minimize unnecessary government spending burdens on taxpayers, the FDM proposes the following targeted initiatives for consideration within the government’s first 100 days:
- Economic Stability: Implement a simplified 15% customs duty rate and reduce payroll taxes for all employees, immediately lowering the cost of living, increasing disposable income for families, and significantly reducing operational costs for businesses. Additionally, eliminate dividend taxes to encourage reinvestment and stimulate economic growth.
- Housing Solutions: Introduce flexible zoning regulations, establish long-term leases for government properties, and waive land taxes for affordable rental units, immediately boosting affordable housing availability.
- Energy Reform: Initiate a transition from heavy fuel oil to Liquefied Natural Gas [LNG] at BELCO, combined with reduced regulatory barriers for renewable energy investments.
- Food Security: Enhance local agricultural initiatives, utilizing unused arable land, extending leases for government farmland, permanently protecting Agricultural Reserve land, and empowering the Bermuda Farmers Association to promote sustainable food production.
- Educational Clarity: Immediately pause the ongoing public education transition to an effective independent educational model led by educators, parents, and community stakeholders.
Conclusion
“As Bermuda charts its future, we honor visionaries such as A.B. Place, Henry Hughes, Joaquin Martin, David Augustus, and James Rabain, whose actions preceded the 1959 theatre boycott. Inspired by the friendly societies and their aims of inculcating self-determination, mutual aid and a relentless drive toward independence, they recognized that true equity emerges only from genuine liberty. Their example highlights creativity and self-reliance as essential foundations for community empowerment.
“Bermuda now faces challenges reminiscent of their era, reaffirming the continued relevance of these principles. Our approach embraces open markets and minimal government interference, understanding that true prosperity cannot be legislated through restrictive measures. To build a resilient, peaceful and prosperous Bermuda, we must commit to supporting one another, locally, regionally, and globally. Thank you,”
