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Bermuda Chaired Management of Public Finances discussion at UK Overseas Territories Event

By November 30, 2022No Comments

Opposition Leader, the Hon. N. H. Cole Simons, JP, MP is in London this week at the British Overseas Territories Forum from November 29 to December 1, to discuss common global challenges and unique individual legislature challenges, with Overseas Territories (“OT”) members, with the aim of finding workable solutions.

(Left to Right): 1. Shadow Minister of Transportation-The Hon. Susan Jackson,JP MP, 2.Opposition Leader, the Hon. N. H. Cole Simons, JP MP

As Chairman of Bermuda’s Public Accounts Committee, Mr. Simons Chaired the “Managing Public Finances in the Current Global Economic Context roundtable discussion at the event. OT members discussed the global economic outlook, the impact of rising interest rates, the cost of living, the possibility of a global recession. and identified key lessons for government responses.

Using the UK context and drawing on references to the OT and other small jurisdictions, Mr. Simons commented: “Before reaching a conclusion about Bermuda’s independence, Bermudians must acknowledge the advanced state of Bermuda’s Constitutional Order, especially our current degree of self-governance, the economic and social impact of such a decision, and the UK Government’s involvement and interventions in the other overseas jurisdictions, whether positive or negative.”

Also, in attendance at the by invitation only event, which was financially underwritten by the Commonwealth Parliamentary Association’s UK Branch, are the Hon. Susan Jackson, JP, MP, who spoke on: “Comparing Parliamentary Systems,” Bermuda’s Auditor General, Ms. Heather Thomas and Ms. Kara Beale, the Assistant Clerk to the Legislature.

(Left to Right): 1. Dennis Tatarkov,Senior Economist-KPMG London, 2.Opposition Leader, the Hon. N.H. Cole Simons,JP,MP, 3.Samuel Edwards, Head of the Economics & Financial Service Team-Overseas Territories Directorate (FCDO)