Vexed Bermoothes

Bob Richard’s reply to the budget is the most thoughtful and fact-based political speech given in Bermuda in many years.

It shows quite effectively that, far from providing effective stewardship of the Bermudian economy, the PLP has allowed our economy to overheat through poor management, neglect, and political interference.

Indeed, taxpayers gasp that Government’s spending has climbed by $400 million annually in just the past few years. But, he reminds us that the financial laxity is actually much worse as Government has systematically underestimated the amount it will collect in taxes.

This Government, in its last five budgets, has collected $317.6 million more revenue than it budgeted for. What has happened to all this money? Has the Government given it back to the people in the form tax cuts? No. Have they made extra payments on their debt? No. What have they to show for all this current account spending? The truth is that they have nothing to show for it except just bigger government.

Well, that’s not entirely true. The insiders and other FOE have plenty to show for it.