Column: Lister On Economy, Employment & More
[Opinion column written by MP Dennis Lister III]
Every Bermudian deserves some breathing room. And while there is no magic fix, progress is being made.
According to the Department of Statistics, in the first quarter of this year, Bermuda’s real GDP grew by 1.1% and by 3.3% in current prices.
Employment income rose by 6.3%, with strong gains in business services [17.1%], hospitality [9.8%], and construction [8.1%]. Inflation eased to 1.9%, and food prices dropped compared to the previous month.
These are encouraging signs, because when more people are working, earning, and spending, households begin to regain a sense of financial stability.
Government acted to make sure this momentum is felt in Bermudian pockets. In the 2025–26 Budget, we cut customs duties on building materials and vehicle parts, reduced the fuel surcharge from 8¢ to 4¢ per litre, lowered land tax and phone costs, and eliminated several fees that add up for families. The goal was simple: to ease the pressure of everyday expenses.
But here’s the challenge: if businesses don’t pass those savings on, families won’t feel the difference.
Take the grocery store. Despite duty reductions on essential goods, prices for staple items like produce and bread remain inflated in some supermarkets. And in the rental market, we’ve seen rents rising faster than wages meaning a landlord increasing rent by 10% while inflation sits at 2% effectively wipes out any economic gains for that tenant.
This isn’t about blame, it’s about shared responsibility.
Government has stepped up. But real relief for Bermudians will only happen if business owners do the same. When businesses hold on to the benefits of reduced costs, they pocket gains meant for the entire community.
The fight against high living costs cannot be won by government action alone and it should not be undermined by business decisions. Fairness, stability, and shared prosperity must be our common goal.
Let’s build a Bermuda where progress is shared, not hoarded, and where doing right by your neighbour is good business.
- MP Dennis Lister III, Constituency #28, Warwick West
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