Job creation
First a confession: Our story in Friday's newspaper on the introduction of ten year work permits incorrectly stated that term limits would be extended to ten years.In fact, term limits for most work permits will remain at six years, but certain work permit recipients will now be able to receive ten-year work permits, so clearly the term limit will not apply to them.We apologise for the error.Nonetheless, the announcement by Economy, Trade and Industry Minister is a welcome one.People will recall that this proposal was actually approved under Dr Ewart Brown's administration, but then Immigration Minister David Burch made it clear he would not issue the work permits and Dr Brown did not force it.Now, with Mr Burch gone, Sen Wilson is prepared to ease this restriction for non-Bermudians who create jobs, especially for Bermudians.That's welcome, although at this point anyone who created any jobs would be welcome.Why? Because the growing businesses, regardless of who is staffing them, create business activity and jobs throughout the economy, both directly and indirectly. They engage the services of other companies. They pay phone and power bills. They pay rent. They buy food. They spend money throughout the economy.To be sure, the Government has an obligation to ensure that Bermudians benefit from economic growth. But there is a risk that if Government is too dogmatic in its approach to job creation it will deter businesses, even with this new incentive.Still, as Bismarck said, politics is the art of the possible, and this may be as much as the Government can give at this point. And it is a start. In part, this is because Government seems to have finally realised the gravity of Bermuda's economic situation.Both Sen Wilson and Tourism and International Business Minister Patrice Minors have been assiduously meeting and talking to a range of business and community leaders since October and it would be shocking if they have not come away with a strong sense of how low confidence is and in what poor shape the Bermuda economy is in.They also seem to be blessed with the ability to listen, and so there's a new openness around. In turn, business and community leaders need to understand where the Government is coming from, and that there needs to be a tangible sense that Bermudians benefit from international business and so forth.