Government today announced that, as of May 2009 (nine months ago), unemployment was running at 4.5%.
Funny they should mention that.
The Auditor General’s report this week reminded us that back in 2002 Finance Minister Eugene Cox proposed setting up an Unemployment Insurance Fund for Bermudians, and enabling legislation was passed to the Public Treasury (Administration and Payments) Act. $1 million dollars was then authorised in the 2003-2004 budget to seed the Fund.
It came up again in the 2005 Throne Speech, and in 2006 Finance Minister Paula Cox said the Fund would be rolled out shortly.
However, according to the Auditor General, “no amounts have ever been paid into the Insurance Fund”.
Follow through has never been the PLP’s strong point.
(By this post I am in not implying that such a scheme would be a good investment for Bermuda, nor that this Government could adequately design nor operate such a scheme. My confidence is exhausted.)
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