Junior Finance Minister David Burt suggested today that Government should consider privatising some of its services in order to inject “much needed innovation” into the economy.He told the Senate candidates for privatisation could include public transport, postal services, waste collection, waste treatment, water and recycling.But he cautioned: “Just because something has worked in another place in the world, doesn’t mean it will work in Bermuda.”Senator Burt, delivering his personal views on the economy in his first Budget speech in the Upper Chamber, referenced how Tony Blair and New Labour introduced a new breed of politics termed the Third Way when they swept to power in the UK in 1997.“This politics was meant to represent the radical centre, a mix between traditional Labour and Conservative policies to deliver for the citizens of a country,” he said.“One of the items that he pushed through was the partial privatisation of some government services.”Sen Burt went on: “It will surprise no one when I say that governments are not known to be the most efficient organisations.“It is my hope that, as the Government looks to open up the budget process and looks to medium-term planning, that we take a serious look at what government services may be able to be provided by the private sector in a more efficient manner.“It is my belief that, as this Government considers all of the available options, there may be room for some government services to be privatised.“Government must collaborate with our social partners in the unions and other stakeholders. We can do it in a way that provides secure employment for workers and ensures that their pensions and benefits are secure.”He claimed the long-term benefit of a policy of deliberate privatisation of government services would be increased efficiency and a reduction in future pressure on public finances.“The new entities will have a stable income stream that will allow them to expand and reinvest, thereby creating additional employment in our economy” he said.“The efficiencies created will lead to more economic activity and increased growth.”The former Progressive Labour Party chairman said he did not believe the issue should be approached “haphazardly or insensitively” and warned: “The risk of damage to our economy will be great if we get it wrong.”But he added: “Considering the risks, and with careful planning, it is my hope that we’ll look at these items in the near future as a way of injecting some much needed innovation into our economy.”ends