Dear Sir,

Bermuda’s much anticipated election has now been called for February 18. We voters are about to choose the spending managers for our tax monies for up to another five years and trust that they are good stewards on our behalf.

The definition of stewardship is: “the careful and responsible management of something entrusted to one’s care”.

Ask yourself, have you received value for your mandatory tax payments over the past seven-plus years? Our taxpayer dollars should, at the very least, be prioritised to be used for the essential things we all need to function in our daily lives — ie, roads, bridges, waste facilities, security, education, hospital, housing, airport, social initiatives.

In 2017, at the start of this administration, our debt was $2.4 billion. As of December 2024, it was $3.2 billion — excluding unfunded liabilities — and the Government’s annual interest payments are about $128 million. So before the finance minister makes any spending decisions on where to direct our tax dollars, $128 million of our money goes straight to our lenders. Given our ongoing debt obligation, I would expect to see a stellar record of careful money management/expenditures from this 7½-year government. The truth is always in those numbers, along with how much value the taxpayer received. Here is brief report card:

The 13-year, Progressive Labour Party failed government affordable housing development — the Grand Atlantic — has cost us easily $150 million to date, spanning several administrations, and it is still a vacant complex. It is now being considered for rental condos at prices the average Bermudian cannot afford. There are several PLP government MPs who were involved at the 2011 start of this project — which the Bermuda Housing Corporation unanimously voted against — and they are still present in this present administration, one of whom is desperately trying to make lemonade out of all those lemons. No taxpayer value yet.

The disastrous $230 million-plus Morgan’s Point luxury residential development was a policy failure of the previous One Bermuda Alliance government, which left us with five incomplete building “shells”. David Burt slammed the OBA government, claiming it showed “a stunning level of incompetence”. So, adding that wasted Morgan’s Point $230 million to the wasted Grand Atlantic $150 million, gives $380 million of “failure evidence” for this PLP administration to steer clear of major taxpayer funding for these high risk developments.

But no, Mr Burt thinks Morgan’s Point is worthy of another try, and this time it will be a luxury residential “mini-village” that will be 100 per cent funded by we, the taxpayer, using borrowed monies, a financial guarantee and no private-sector investment partner. Once again, the taxpayer’s chips are “all in” and the Government is rolling the dice. Gambling is so much fun with other people’s money.

This government’s poorly structured loan of $800,000 to a Savvy music man, allowed him to skip the island with our money without even starting this non-essential recording studio project. No return there. Not even a pair of headphones.

The Bermuda Gaming Commission, now ten years old, still has no gaming industry to regulate, and it has cost us $16 million for employee salaries and consultants. A fiscally responsible government would have turned off that dripping taxpayer money tap and shut the down the commission, but as is often the case, many politicians seem to have amnesia about whose money they are spending and treat our tax dollars like they come from the tooth fairy.

The complete financial details of the controversial contract that this government has negotiated with Gencom for the redevelopment of the Fairmont Southampton hotel have not been revealed to the public. Our previous finance minister resigned, rather than put his signature on it owing to the “lopsided” terms, which included the level of government financial guarantees. That event alone should be a red flag about Mr Burt’s willingness to risk our tax dollars.

In 2017 and 2020, the PLP promised a new form of governance that would benefit the people, including a more participatory democracy with rigorous governmental oversight to include campaign finance reform. Those unfulfilled promises, all ring hollow. Here are just a few:

• Anti-corruption legislation, which would broaden the definition of “official corruption”, and give the Auditor-General expanded power to void corrupt government contracts. That 2017 promise quickly fell off the Government’s radar, after such a noble-sounding introduction

• Campaign finance reform, to ensure openness and transparency in our elections. In 2017, Mr Burt said there would be no repeat of the controversial “Jetgate” event which occurred leading up to the 2012 election, when the OBA (who won) received secret, foreign campaign donor monies. Oddly enough, that reform didn’t happen

• Financial disclosure requirements for politicians and senior civil servants would be increased. The recent (former) attorney-general/husband hire conflict rings a bell

• Independent commission on debates to be established which would designate crucial issues for discussion by public forum, to include debates before general elections. We sure could use that right now. Caricom? Independence? Morgan’s Point? Corporate income tax and debt management? Fairmont Southampton hotel?

• Bermuda national digital bank to be created to cut mortgage costs and jump-start the casino industry. Nothing yet

• A “green energy revolution” would reduce power bills, and a food co-operative would increase domestic production — to include vertical farming. An onshore fish-processing plant and legislation to ban single-use plastics by 2022. Nothing yet

This is more than a seven-year record of broken promises and irresponsible spending, the results of which don’t reflect well on this administration. Its overall policymaking —on education, cost of living, affordable housing, essential infrastructure, etc — has done little to make a positive difference in the lives of everyday Bermudians who continue to flee our shores.

That being said, on February 18, 2025, we will all get the government we deserve because we are the ones who chose it.

BEVERLEY CONNELL

Pembroke

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