Here is the full text of Deputy Premier Paula Cox's statement yesterday announcing her intention to stand for the leadership of the governing Progressive Labour Party:

A couple of days ago I submitted a letter to the Party Chairman and to the Party Leader advising that I intended to be a candidate in the upcoming Party leadership election.

Today I publicly affirm my decision to contest the election for the position of the Leader of the Bermuda Progressive Labour Party.

I stand here today to announce my desire to serve the Bermuda Progressive Labour Party as its next Party Leader and to lead our country as the next Premier of Bermuda.

When we first became Government in November 9, 1998, we excited the imagination of the country. It was felt to be our time. I remember saying on the Cabinet grounds on November 10, 1998 that the air smelled better, and that even the French fries tasted better, post a PLP Government. So expectations were high and we were excited.

Since that time, some of our veteran members are no longer with us, but they will always be remembered as standard-bearers for justice, equity and integrity. These included former Tourism Minister, the Hon. David Allen, JP MP, the Hon Dame Lois Brown-Evans DLBE, JP MP, the Hon Nelson Bascome, JP MP and my father, the Hon. C. Eugene Cox, CBE, JP MP.

Today I stand on the shoulders of all those who have gone before us, including, former Opposition Leader, L. Frederick Wade, JP MP and all our founding PLP members.

My task, if successful, at the PLP Annual Delegates' Conference will be to carry the torch our earlier stalwarts lit into a new era.

Since 1998, I have served my country as an advocate for education, a guardian of our nation's labour force as Home Affairs Minister and as an innovator and enabler in economic empowerment and economic development.

I believe that Government is most successful when we are accountable, while standing united as a Government, working together for the good of our country.

I am committed to my fellow Bermudians and I am committed to our Party. However, I have a greater commitment to reaching our potential as a country with integrity, honour and openness. A Bermuda whose people see what is possible and are not afraid to reach beyond themselves to achieve it.

Bermuda must be a great place for Bermudians and those that work and reside here. Bermuda must also acknowledge her global status and embrace the change that is required to be a top class global player. We have to be willing to open some doors that we may have shied away from in the past but we have to hold hands and we have to walk into the future together, respectful of each other's differences but prepared to push the differences aside in order to make Bermuda the best place to be.

We have an economic downturn and we have to devise ways to be even more innovative in providing jobs and expanded opportunities for those who have lost employment. Our system of concessions and relief can be an enabler here. We have to be prepared to dialogue and to consider ways to interact that can be mutually beneficial, not just when there are 'hot' issues. We accept that there are challenges, but there are also opportunities.

I know that many of you see this. I am heartened by the knowledge that you are willing to stand with me; work with me; and succeed with me, in serving our Bermuda.

We have many challenges to face as a country and as a Party. Our community is changing. Keynes once asked: "When circumstances change, I change my mind: what do you do?"

Well, when circumstances change, the Progressive Labour Party Government that I am a proud member of, rolls up its sleeves and gets on with doing the job.

As we turn the page and prepare to bid farewell to our current Party Leader and the country's Premier and open the chapter to a new administration, we will press forward to work in the people's interests. It will not be business as usual or politics of usual.

So, what next?

I intend to bring together a team that will believe as I do – that to serve one's country is a noble undertaking. Together, we will transform Bermuda into a place of greater opportunity, harmony and social progress, with a team of Ministers and Parliamentarians who will be responsive to your needs and who will never forget that we are the people's servants.

People are aching for another wave of change following the high of 1998. This is normal. Familiarity can sometimes get dull, even in the most dynamic of relationships. So this next wave of PLP Government has to bring not just substance with style, we have to recapture some of the dizzying heights of the November 1998 aura. This we will do. We will re-connect and we will need all hands on deck – youth and experience, wisdom and wit and energy.

We have a job to do and we will get on with it. Let us build one another – together. I believe that Bermuda will move forward together with this brand of leadership as we turn the page and start a new chapter.