Vexed Bermoothes

Back in February, critics charged that Government’s summary of Bermuda’s economy was overly rosy.  Paula Cox (then Minister of Finance alone) predicted that Bermuda’s GDP in 2009 declined by 2.5%. Government did not reign in its spending … and sharply hiked taxes … and dug deeper into the debt bucket. The truth is becoming clearer [...]

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The Chamber of Commerce gave a presentation this morning to its members on the state of the Bermuda economy.  It presents a much clearer view of Bermuda’s economic condition than we normally get from the Government spin doctors, who have a vested interest in painting a happy face on the mess they’ve made. It’s uglier [...]

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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 [...]

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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.

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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 [...]

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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 [...]

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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 [...]

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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 [...]

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