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Education is key to bigger share of economic pie

HOW can more of the island's population share in Bermuda's economic success story?For Bermuda College economics lecturer Craig Simmons, there is a one-word answer: "Education."Mr. Simmons will be one of the panellists at a public meeting next week, themed "Building and Maintaining an Inclusive Strong Economy".

HOW can more of the island's population share in Bermuda's economic success story?

For Bermuda College economics lecturer Craig Simmons, there is a one-word answer: "Education."

Mr. Simmons will be one of the panellists at a public meeting next week, themed "Building and Maintaining an Inclusive Strong Economy".

The meeting, to be held on Tuesday at 6 p.m. at the Leopard's Club in Hamilton, will invite residents to have their say on how they would like to see Bermuda's economy develop in the coming years.

It is the first of five public meetings to be held over the next two months on the issue of sustainable development.

Property prices have rocketed in recent years, putting the purchase of a new home out of reach of many Bermudians.

And statistics appear to show the gap between the rich and poor segments of the community is not narrowing. The 2000 Census showed that 12 per cent of the population was poor and another 18 per cent near poor.

It is understandably difficult for those people to comprehend why Bermuda's economic achievements are so often portrayed as a success story. So how can everyone share in Bermuda's economic success?

"In one word, education," Mr. Simmons said. "That is the most important factor.

"First we have to recognise that the economy we have today is not inclusive. There are certain sectors growing faster than others. We have to spot those trends and try to find ways of reversing them."

A pamphlet summarising Government's recently published has been posted out to all residents.

It includes a section on the economy which mentions the objectives of maintaining the twin pillars of tourism and international business.

Mr. Simmons said: "Maintenance is a strange concept in terms of business, because business is fluid. You have to work hard just to maintain your position. You can't sit back and let things happen.

"When we talk about maintaining the hospitality sector, we are talking about increasing air arrivals, which is going to take some work."

As points out: "Bermuda's economic position is almost unique. With one of the highest Gross Domestic Products per capita in the world yet with very few natural resources, the population is dependent on imports for most basic commodities and consumer goods."

Mr. Simmons saw a positive side to that reliance on imports.

"We can buy those imports from anywhere on the planet," the economist said. "We are not hemmed in. We have freedoms that most countries don't have.

"For example, the Americans have a car industry and there is pressure on Americans to buy American cars. But here, we can just pick the best products in the world and import them from anywhere. So that total reliance on imports could be seen as a benefit rather than a liability."

Tuesday's meeting will be opened by Erica Smith, the director of the Sustainable Development Unit, who will present an overview of the sustainable development initiative.

Sitting on the panel alongside Mr. Simmons will be social commentator Rolfe Commissiong and Bermuda College administrator Eugenie Simmons. editor Bill Zuill will be the moderator.

Members of the public are urged to turn out in strength and give their views.

Ms Smith said public participation was the key to the consultation process.

"This is about making choices for generations to come," Ms Smith said. "I urge everyone to make an effort to attend the meetings or listen in on the radio. But most importantly, let us know your views."

Refreshments will be provided.

The following four public meetings will be held every other Tuesday, all starting at 6 p.m., with different sets of panellists. The schedule is:

August 8 ? "Transforming Governance and the Public Sector", St. Paul AME Church Hall, Hamilton.

August 22 ? "Protecting and Enhancing Our Natural Resources and Environment", St. Paul AME Church Hall, Hamilton.

September 5 ? "Sustaining Our Communities", Leopard's Club, Hamilton.

September 19 ? "Living Within Bermuda's Limits", St. Paul AME Church Hall, Hamilton.