Kim Swan’s response to the Drone Speech highlights some painful failings of the PLP in their 10 years of power:
- Bermuda’s bloated budgets have been covered up by $318 million in unexpected windfall earnings from international business between 2002 and 2007. This “free money” should have been saved or dedicated to capital projects, but no …
- Despite the windfalls, Bermuda has run a budget deficit before borrowing ranging from from $26 million to $131 million. We are borrowing to cover running costs, not to build for the future. That’s not sustainable.
- In addition, gross national debt mushroomed from $160 million in 2004 to $456 million, and our interest payments have grown from $8 million to $26 million annually.
Every household has to budget and live within its means. Government under the PLP does not.
It is shocking that the PLP Throne Speech did not address Bermuda’s tightening financial circumstances in the slumping global economy.
And it is insulting that Minister Burch lectures Bermudians on living frugally while Government continues to binge.
And it is freakish that Government would propose a 30% pay increase to pacify the parliamentary backbenchers while so many Bermudians are feeling the economic pinch. It shows the disconnection of our political leadership from the people they supposedly represent.