World leaders have whipped up a frenzy against the so-called “tax havens”. I suppose it’s their way of keeping the wingnuts busy, and diverting any embarrassing questions about their own complicity in the economic meltdown. It’s the equivalent of Bermuda’s own bullets-in-the-mail, rubber checks, racist dogs, Beyoncé’s coming, and plantation questions. Take this fine rant: [...]
Entries from March 25th, 2009
Jurisdictional Competition
March 25th, 2009 · Comments Off · Business
Tags:G20·money laundering·OECD·tax haven
Wacky Stats
March 24th, 2009 · Comments Off · Accountability, Development, Tourism, Transport
We were treated to a funny show on Friday, when the Premier dragged out a Government Computer Guy to explain why the Tourism stats were wrong. Why him? Was the Rat Control Guy unavailable? Did all the Cabinet Office sycophants get out of the room first? The Tourism stats have been unreliable for many years. [...]
Tags:Statistics
Secret Society
March 21st, 2009 · Comments Off · Accountability, Bermuda Politics, Transparency
You have to question if Government are really serious about Public Access to Information (PATI). Last week, the Premier announced that Cabinet would post the details on some of the major contracts it grants. Which led to the obvious question: “how will those contracts be tendered?” Which led to the Premier’s press secretary Glenn Jones [...]
Tags:Contracting·FOIA·PATI
Ministry of Silly Numbers
March 20th, 2009 · Comments Off · Bermuda Politics, Tourism, Transport
The Premier today announced that, oops, Government found another accounting problem and that air arrivals last year were actually down a hell of a lot more than previously admitted. In fact, air arrivals were down 13.72% instead of 4.62%. Ooops. Tourism spending was down 22.3% – before the recession even got rolling. That’s pretty bad, [...]
Tags:Statistics
Mindboggling
March 20th, 2009 · Comments Off · Bermuda Politics
The loosening of financial controls for the courthouse project is wrong. The Minister’s intransigence is even worse. The fact is, the Auditor General has a good track record predicting where problems will happen. Remember back in 2002, he published a special report addressing some of the early problems with the Berkeley project, and expressing doubt [...]
Bermuda is Not a Secrecy Jurisdiction
March 18th, 2009 · Comments Off · Bermuda Politics, Business
I’ve been critical of Government’s silence regarding what it plans to do to protect Bermuda’s interests amidst the tax-haven scapegoating going on amongst global leaders. Finance Minister Paul Cox finally gave a statement today in Parliament which answers some of those questions: “President Sarkozy and other European leaders from the G20 have said that they [...]
Tags:G20·money laundering·OECD·tax haven
Baby Steps
March 18th, 2009 · Comments Off · Accountability, Bermuda Politics, Media, Transparency
The Premier announced that all contracts awarded by Cabinet will appear in the Official Gazette beginning April Fools Day. Contract details like the name of the contractor, the services to be provided, the amount of the contract, whether it was tendered or sole sourced, and the Ministry providing the funding will also be listed. Dr. [...]
Tags:Contracting·FOIA·PATI
Ultimate Irony
March 17th, 2009 · Comments Off · Accountability
In referring the Premier’s sadness over the to the terrible situation facing the people of the Turks & Caicos following a Commission into official corruption, and clouded future of Michael Misick, the local news sternly informs us that: “Mr. Misick, who was the guest of honour of the Progressive Labour Party at their annual banquet [...]
PATI Progress!
March 17th, 2009 · Comments Off · Transparency
It’s Sunshine Week, a international initiative in which journalism organizations promote open government and freedom of information. (Government’s decree to cut advertising in its publications occurred around the time of the Royal Gazette’s dogged cheerleading of Sunshine Week last year). On cue, Attorney General Kim Wilson has promised that the Bermudian public will be asked [...]
Cause + Effect
March 16th, 2009 · Comments Off · Accountability, Bermuda Politics
Q. What happens when you announce a runaway budget, propose a massive increase in your debt, but weaken your debt repayment provisions, and slag off your auditors in public for pointing out your inadequate financial controls? All at a time when your revenue streams are under intense pressure? A. March 16 (Bloomberg) — Bermuda’s domestic-currency [...]
Tags: