Truth Not Lies
Disingenuous UBP partisan Christian Dunleavy is lying again. This time, he's misleading his UBP readers into believing that the PLP hasn't long acknowledged that there's an international economic crisis from which Bermuda's not immune. The truth is, we've been in rough international economic waters for quite some time and we've regularly acknowledged it.
The PLP is working closely with business to help Bermuda weather the storm. But, don't just take our word for it. Take it from Bradley Kading, the president of the Association of Bermuda Insurers and Reinsurers who said, "While the AIG crisis and others pose challenges, Bermuda's internal financial institutions are in good position to deal with these."
We've long acknowledged that we're in for tougher economic times. In fact, in each of the posts Mr. Dunleavy cites to make his case that we've ignored the economic downturn, there are mentions of that downturn along with comments relating to both steps Bermuda is taking to weather the storm and heartening news suggesting that we're effectively managing this economy.
Let's set the record straight.
Each night you and your family should go to bed confident in the fact that your government is committed to sound economic policies; and is keenly aware of international trends that affect Bermuda. We have the know how to recognize those trends and a proven track record of navigating our economy accordingly...
The PLP government is ready to weather the international economic storm
There's lots of things Bermuda can do to soften the blow of the international economic downturn. We're engaging in a platinum period revitilisation of our tourism product to improve Bermuda's attractiveness to vacation and business tourists alike. And, under the steady leadership of Deputy Premier and Finance Minister Paula Cox, we're ensuring that our regulatory environment continues to be one that cultivates our IB sector.
This is excellent economic news and proof that despite the international economic downturn from which Bermuda is not immune, the PLP government's effective management of our economy combined with our platinum period tourism product enhancements will ensure that Bermuda is well prepared to weather the economic storm.
While the international economic climate has undoubtedly impacted our growth - the fact that our economy is still growing is yet another sign that the PLP government is effectively navigating tough economic waters.
Despite their dire predictions, Bermuda's IB sector continues to prosper even in a difficult international economic climate... That's right, Bermuda's insurance sector is profiting to the tune of billions of dollars in a tough economic climate.
Mr. Dunleavy, we couldn't agree more: "A less tone deaf, less partisan, more respectful and honest approach to what is going to be a difficult time for Bermuda is in order.
"(You and your party) need to rise above the politics for once, particularly now that Bermuda is looking at job losses and the financing for the Sonesta redevelopment disappeared with the Lehman bankruptcy.
"Time to drop the childish tone on (your website). This isn't a high school election, although that's the impression your website leaves one with.
"This is about the real lives of real Bermudians and Bermuda's Government has positioned us well during a period of rapid growth driven by external circumstances (Sept. 11 and Hurricane Katrina)."
Make no mistake, times are going to get tougher, but, we are well positioned to weather the increasingly hostile international economic storm.
Government is taking proactive steps to protect the two pillars of our economy. And, while there's no doubt that we're in for tough economic times, the platinum period tourism enhancements coupled with Finance Minister Cox and the rest of our team's effective management of our regulatory environment will help us weather the international economic storm.
