Setting the Record Straight: PLP's Commitment to Bermuda's Economy and Finances

Setting the Record Straight: PLP's Commitment to Bermuda's Economy and Finances

In response to the recent Op-Ed by Opposition Senator Douglas DeCouto, I feel compelled to address some of the misconceptions and criticisms he has raised about the Progressive Labour Party (PLP) Government's handling of Bermuda's economy and finances.

Senator DeCouto questions why, if the economy is so great, it doesn't feel like it. The answer is simple: we are still recovering from the global economic impact of the pandemic. The PLP Government has been proactive in mitigating these effects by providing support to local businesses, increased scholarship funding for students, and launched initiatives to boost entrepreneurship. These efforts are aimed at stimulating economic growth and creating opportunities for Bermudians.

Additionally, the PLP Government has developed an Economic Development Strategy as a roadmap for Bermuda's economic recovery and growth, and are committed to its implementation.

Despite the challenging economic environment, we have managed to keep our deficit lower than projected and have made significant investments in key sectors such as education and healthcare.

The Senator conveniently overlooks the work that the PLP Government has done to attract more people to Bermuda by introducing policies to make Bermuda more welcoming to international businesses and professionals. Progress is evidenced in the recently released Labour Force Survey Report which highlights a 4.9% increase in non-Bermudian workers between November 2020 and November 2022.

Now that Bermuda's GDP statistics are showing signs of strengthening, Senator DeCouto makes a weak attempt to convince the Bermudian public that GDP, an internationally accepted economic indicator, is no longer an effective measurement tool for our economy. This is an insult to the intelligence of the Bermudian electorate and negates the important work of experienced, professional, and highly trained Public Officers employed at the Department of Statistics. His assertion is ironic especially given that the OBA has historically referenced the GDP.

Our Government has been transparent about the challenges we face and the steps taken to address them. We are committed to keeping the public informed and engaged in our efforts to build a stronger, more prosperous Bermuda

The PLP Government is committed to serving the people of Bermuda and are working tirelessly to improve our economy and finances. We will continue to work with all stakeholders, including the Opposition, to achieve our common goals

The PLP Government is not just planning for the short term, but for the long-term prosperity of Bermuda and its people.

Lauren Hayward Bell
Deputy Party Chair of the Bermuda Progressive Labour Party