Yesterday Minister Burch gave the leader of the local Chamber of Commerce a tongue lashing for publicly disagreeing with his trial balloon about imposing higher graduated fees for executive work permits.
You may recall that Minister Cox recently gave a similar paranoid rebuke to the CEO of ACE over his gentle reminders that Bermuda’s regulatory regime needed sprucing up. Shortly afterwards, Ace decided to set up a new global headquarters in Switzerland.
Local companies are local, so they have to speak up. They have nowhere else to go. International companies have more options; they just move on. If you are Bermudian and work in management of an international company, you can feel the tug of the tide turning.
Yes, Colonel, the working relationship is very damaged. It’s just that the Bermuda Government is too accustomed to “unexpected windfalls” to notice and react.
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