Vexed Bermoothes

I am neither fish nor fowl. I am apparently not Bermudian enough to make the Premier’s Christmas card list, nor Establishment enough to be invited to the Bermuda First think tank.

Nevertheless, some things are plain to me and I believe will be reflected in the Bermuda First report which is supposed to be delivered by end of this month:

1. International companies and their leaders are relatively happy with Bermuda’s “business” aspects – the taxes, the regulatory and legal regimes, and the availability of specialist advisors. They are concerned about international moves against Bermuda – but are used to dealing with external threats like that.
2. It’s the internal threats that are really worrying them. The underperforming education system, which has created a scarce skilled local workforce and growing violent criminal underclass. Government’s ballooning budgets, with their related inefficiency and lack of accountability. The latent hostility from Government towards international business.  The neverending race squabbles.

For years, the message passed to the International companies has been: we’ll provide the platform for your business, but stay out of local politics. But now local politics – through public safety concerns, term limits, the erosion of Bermuda’s reputation by the constant circus of allegations and grandstanding – are affecting their business.

So they must be heard, or slowly they will vote with their feet. Either specifically by moving or jurisdiction. Or by the bleed of senior expat staff calling it quits and moving to a more welcoming environment.

The message from Bermuda First will be clear: Bermuda needs reform. Not a tweak here and there – but a major and sustained focus on reforming our local Government. Education. Good governance. Transparency. Accountability. Rule of Law.  Tighter budgets.  These are all key to our economic survival and maintaining our high standard of living.