For many Bermudians, affordability is the single biggest challenge in their daily lives. Whether it’s rent, groceries, electricity or banking fees, too many families and seniors find themselves struggling to keep up. The Progressive Labour Party understands these realities and we have already taken concrete steps to ease the burden — cutting taxes for 86 per cent of workers, freezing fuel prices and expanding affordable housing.

But we know that more must be done. That is why the PLP’s 2025 Platform lays out practical solutions to make life more affordable for all Bermudians.

Housing remains one of the most significant financial pressures on Bermudian families. That is why the PLP is converting the Bermudiana Beach Resort and Grand Atlantic into affordable housing with rent-to-own opportunities and a housing lottery for first-time buyers. We will introduce an Inclusionary Housing and Zoning Policy, ensuring that new developments include affordable units. Amendments to the Landlord and Tenant Act will protect both renters and landlords, making it easier to deal with non-compliant tenants, while ensuring fair treatment for responsible renters. In addition, we are developing a comprehensive plan to end homelessness in partnership with non-profit and key stakeholders.

Beyond housing, we are focused on reducing everyday costs for Bermudians. Eliminating customs duties on all building materials and motor-vehicle parts will lower expenses for homeowners and vehicle owners. The tax on energy will be reduced by a further 20 per cent, bringing the total reduction to 80 per cent. To make transportation and communication more affordable, we will lower private car licensing fees by an additional 10 per cent and cut mobile phone taxes by 50 per cent. A new Digital Grocery Price Tracker will help consumers to compare food prices, ensuring that businesses price goods fairly.

We also recognise the need for greater consumer protections, particularly when it comes to banking fees, mortgage rates and insurance costs. The PLP will create a financial watchdog to monitor and reduce excessive banking fees and strengthen mortgage protections for those facing financial hardship. We will update the Lender Code of Conduct to ensure fair borrowing practices and work with the Bermuda Monetary Authority to address rising home insurance premiums.

The PLP has never been afraid to act. Over the past seven years, we have cut taxes, stabilised healthcare costs, expanded affordable housing and strengthened worker protections. Now, through our 2025 Platform, we are going even further — ensuring that affordability is not just a goal, but a reality.

We invite every Bermudian to read the platform, engage with its ideas and be part of the conversation. Together, we can continue building a fairer, stronger and more affordable Bermuda for all.

• Anthony Richardson is the Progressive Labour Party candidate for Hamilton South (Constituency 7) in the next General Election

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