The island’s ‘trade union’ for business leaders said it looked forward to working with the new PLP Government.

But John Wight, Chamber of Commerce president, warned that Bermuda faced a series of challenges — including an ageing population and need to increase the number of taxpayers.

Mr Wight said: “One of the many challenges we face is an ageing and declining population and all sectors in Bermuda that offer local products and services need more consumers in Bermuda to survive.

“Without more taxpayers in Bermuda local businesses will continue to absorb too large a portion of the tax burden required to narrow the deficit.”

He added: “The Chamber meets regularly with the Government of the day, as well as with the Opposition.

“Bermuda-based businesses require economic, social and political stability to thrive and we look forward to working with the PLP, on behalf of our members, to that end.

“We applaud the PLP’s stand on collaboration and believe that the leaders of this country have the opportunity to try and bring this country together.”

And Mr Wight said: “In particular, we look to Government to provide clear, fair policies that create an environment conducive to keeping Bermuda working and our economy growing.”

A Chamber statement added that — as “an important stakeholder representing all Bermuda’s businesses — the organisation looked forward to working with the new Government on these and other issues “that affect members and Bermuda as a whole.”