Dear Sir,

How many times has the Government told us that because of insufficient funding, our much needed capital projects are being delayed? How many times have we heard that the funds — our tax dollars — are limited and only minimal expenditures for repairs to essential infrastructure are available?

Every year, the finance minister presents us with a new budget and each ministry gets its share. Every year we hear those ministers lament that their ministry needs X and that they have only Y.

Well, I found $400 million. Yes, it was just sitting there waiting for someone to see it. Actually, I’m surprised the Minister of Finance has not mentioned it because that is one heck of a windfall.

Just think about that for a moment — $400,000,000. Now that would go a long way in upgrading our infrastructure, paying off some debt and investing in our social programmes. A brand new bridge — or two. Island-wide road repaving. Real affordable housing. A brand spanking-new Tynes Bay Waste-To-Energy Facility.

All completed. Well, they could have been. Read on.

The Government has told us that it needs approximately $350 million for the following essential infrastructure upgrades:

$100 million to repave all roads (just $5 million was allotted this year)

$150 million to completely refurbish Tynes Bay (the facility is being “stabilised” with $22 million to keep it upright)

$100 million (estimate) to replace the ageing Longbird Bridge and the Swing Bridge (repairs to both are under way but urgently needed replacements are being delayed owing to funding constraints)

I told you I found $400 million, right?

Here is where I found it. Since 2009, the Government has spent millions of our tax dollars on the following:

$150 million Grand Atlantic housing, aka Bermudiana Beach Resort. (This figure is a more realistic estimate than the vague “in excess of $100 million” that the Government has told us) — this project failed, twice

$230 million Caroline Bay/Morgan’s Point luxury housing development ($165 million guarantee plus $65 million in costs/interest over time) — this project failed

$16 million Ten years of funding for the Casino Gaming Commission, but we still have no gaming industry in Bermuda — this initiative failed

$800,000 A music recording studio in Moresby House, Sandys; the money was stolen, no music studio delivered — this project failed

This is close to $400 million of taxpayer dollars which was spent with zero return on investment.

Am I the only one who is appalled by this? Just think about what we could have done with that money.

So the next time you hear your ministers tell you, “We don’t have the funds”, you can tell them they are flat-out wrong and you can give them four hundred million reasons why.

BEVERLEY CONNELL

Pembroke