It appears that the Opposition UBP and BDA are combined in their criticism of the PLP’s profligate spending with duelling editorials in the media. The PLP blog has responded with it’s usual hyperbole of: What Would the Opposition Cut? So, what would they really cut? They aren’t telling us. But, we know where their loyalties [...]
Entries Tagged as 'Economy'
Warning Signs
May 3rd, 2010 · No Comments · Economy
Most Bermudians understand the warning signs now. When the PLP promises “revolution” they often deliver “financial trainwreck.” Bermuda is on the verge of a “revolution” in health care, Health Minister Walter Roban said yesterday. Or maybe I’m just confused.
Tags:
Union Wakes Up Confused
April 28th, 2010 · No Comments · Economy
The head of the BIU has demanded that local insurance companies not raise their premiums saying the increases were “alarming and unacceptable”. Thanks for waking up Chris. Where were you when Government raised payroll tax by 25% ? Or when it doubled the size of its budgets over just five years? Or when it lost [...]
Tags:
Economic Spenduluous
March 30th, 2010 · 1 Comment · Economy
The Government is trying to position its blockbuster budget as being an economic stimulus. Except no-one can pin down exactly what part of the economy it’s stimulating except public sector flab and waste. Maybe we should call it the PLP’s “economic spenduluous”. The news has been rife with new layoffs this week … primarily affecting [...]
Tags:Budget
Quote
March 24th, 2010 · No Comments · Economy
Larry Burchall continues his biting analysis of the Bermuda Government’s incompetence and financial follies: In 1940, a great Englishman said: “Never… was so much owed by so many to so few.” In 2010, a great Bermudian might say: “Never… was so much owed by so many because of so few.” The full extent [...]
Tags:Budget
Taxing Consequences
March 23rd, 2010 · No Comments · Economy
While Bermuda rachets up its payroll taxes, there are repeated warnings from the international sector that this will lead to additional jobs being moved to more friendly jurisdictions. Witness this news from Nova Scotia, where yet another fund company run by ex-Bermuda hands is setting up shop: Castle Hall Alternatives, which helps investors identify and [...]
Tags:
Slipping Away
March 22nd, 2010 · No Comments · Economy
At a conference last week the chairman of Bermuda insurer Flagstone said it would not surprise him if most Bermuda insurers moved their holding companies elsewhere over the next few years. At the same time, Brad Kading, president of the Association of Bermuda Insurers and Reinsurers, said there are several reasons why companies might be [...]
Tags:
Alphabet Groups
March 17th, 2010 · 1 Comment · Economy
Politics comments on the email doing the rounds from Lt Col Burch which manages, true to form, to be both reasonable/conciliatory and off-putting at the same time. But at least he’s asking. Dear Bermudian Worker in International Business, I have heard from every alphabet group in this country who purport to represent you and your [...]
Tags:
Rebalancing
March 13th, 2010 · Comments Off · Bermuda Politics, Economy
Finance Minister Paula Cox admits that she must “rely on the residual goodwill” within the business community. And that there sums it up: they’ve been relying on the residual goodwill for so long that there’s not much goodwill left but residue. She also scoffs at the business community’s squeals at being squeezed so hard to [...]
Tags:Budget
Road to Ruin
March 5th, 2010 · No Comments · Economy
The UBP has given their Reply to the PLP’s Disasterous 2010 Budget. It is scathing. Read it below the hop. They focus on a few areas in particular: “The Government is banking on a recovery taking place this year. We believe recovery this year is unlikely. Imposing tax increases at this time is the wrong [...]
Tags:Budget