Bermuda’s main problem today is its broken economy, clearly evident by massive – and rising – debt, a lack of investor and business confidence, rising cost of living, high job losses and employment attrition.
This is no secret.
The unfortunate, harsh, results of this economic morass are all too personal for an increasing number of Bermudians.
It is hurtful to the OBA to see the numbers of Bermudians who daily line up for support – needed just to get by – and to hear the stories of suffering as we canvass constituencies.
Our declining economy is one issue all Bermudians must confront now.
It is one of several reasons – but the most compelling one – why you should vote for a new One Bermuda Alliance government.
The OBA’s record for economic stability and fiscal responsibility is second to none.
It was an OBA government which in just four years brought one billion dollars of investment to our country and created jobs.
It should be noted here that the One Bermuda Alliance increased payroll tax on the highest paid and decreased it for the lowest.
It was a very firm foundation for the Burt administration to build on.
But, prudent policies have been replaced with fluff, the majority of which has been anticlimactic for our people, as unrealistic promises have not been fulfilled; and the few projects that saw any light were way short of David Burt’s lavish promises.
Today, a massive PLP debt of $3 billion – and rising – is choking the economy. The Burt administration has added One Billion Dollars to the debt in just 12 months.
The Burt administration has flattered to deceive. Even now, they are playing politics with the people’s money.
This works in the mind of magician Burt.
But such deception and ineptitude destroys investor confidence and, worse, people’s lives.
What can be more frivolous and offensive than the Burt administration putting forward an arrangement for seniors to borrow money?
What seniors want is the protection of their hard-earned assets so they can enjoy their older years without the worry they feel now.
That is not the action of a party that says it puts Bermudians first.
We are now hearing about $800,000 given by the Premier to a scammer.
This is money that could have gone to alleviating the suffering of our citizens.
We are all left to wonder what else will come out of the shadows.
But there is hope ahead.
Hope in a better – much better – One Bermuda Alliance.
We will not pretend the road ahead will be an easy one.
It has never been Party policy to make fanciful promises simply because it is an election – and we will not do so in this election.
The OBA believes in the people of Bermuda over politics.
We believe in the resilience of our people and our strength in overcoming the hurdles as long as there is transparency: a Government that tells it as it is and illuminates a clear path ahead.
And that is what the OBA is promising.
The OBA firmly believes that it requires the inclusion of all sectors and all Bermudians to take our country forward.
The welfare of the people will inform our policies and we will engage all relevant groups in framing the economic initiatives that we intend to execute to make Bermuda better.
We pledge that the OBA will exercise fiscal responsibility whilst ensuring a safety net for the most vulnerable.
Our economic policies and programmes are seated in reality – what is necessary and doable – and will always be people centred.
We will also be guided by a simple economic truth – you cannot borrow your way out of trouble, you cannot borrow your way to prosperity.
That is Economics 101.
Everyone knows that except, from the clear evidence, the Premier.
Mindless borrowing, instead of the needed proper management, only postpones the inevitable day of reckoning when the sleight of hand and band aids can no longer hold.
David Burt knows that day is at hand for the PLP, hence the rush to have an election in a pandemic – another unconscionable action that disregards the priorities of our country.
Apart from stifling growth, increased debt also saddles our young people with a PLP inheritance that leaves nothing in its will as, if left unchecked, all they will have is debt repayments.
Our country, especially our young people, deserve better.
So, our overall framework for progress will be: