Legislators wrangled over the island’s economic progress with the opening salvo of the 2024-25 Budget Debate defined by Jason Hayward, the economy and labour minister, as one of contrasts.

Ms Hayward told the House of Assembly that Bermuda’s economy was estimated to grow 4 per cent in 2024, as he began with criticism of the Opposition’s Reply.

The Opposition responded that the island’s successes were unequally felt, with many ordinary Bermudians remaining in hardship.

In an hour-long speech, Mr Hayward portrayed the One Bermuda Alliance as intent on a “gloomy picture with no meaningful progress” that belied job growth “across the board”.

“The numbers do not lie,” he said. “Bermuda’s economy continues to expand — bottom line.”

Mr Hayward highlighted that the domestic financial services and insurance sector “increased upwards of $159 million” last year, ahead of international business, and that tourism had been the largest contributor to new jobs.

The 2024-25 Budget contained “no electioneering”, he told the House of Assembly.

Mr Hayward said the first balanced budget in 20 years was testament to the Government’s focus on the island’s debt.

He attacked the OBA on its record of austerity in government, from cutting scholarship funding to a hard line on furloughs that sparked protests outside the Cabinet Office.

“We need to make it abundantly clear: the contrast between the Progressive Labour Party and the other party. The voters of Bermuda need to know that there are options, and choices matter.

“I am convinced the PLP is the best party for our youth, our workers, our seniors and for business.”

Mr Hayward challenged Opposition MPs to tell the House “which of their ideas are new ideas”.

He said the island’s economy was at its best since 2011.

“Our economy has not just recovered from the pandemic. Our economy is larger today than in any year that the OBA government presided. Fact.”

He added: “Success does not fit into their narrative.”

Mr Hayward emphasised the ruling party’s “social contract with the people of Bermuda”.

“We must move forward and we must bring our people with us.”

PLP backbencher Jamahl Simmons said the party had been repeatedly demonised in Budget debates he recalled listening to as a child.

“The PLP can’t manage money — sound familiar?

“Nothing has changed. No, something has changed — they say we steal and we travel too much.”

Mr Simmons said of the OBA: “They do a very good job of pointing out what’s wrong.” He accused the Opposition of lacking any solutions and failing to elaborate on the “tough decisions” they would have to make in government.

He said a clue came from “their cheerleaders online”.

Ben Smith, the deputy Opposition leader, acknowledged that each side could look at numbers and “come up with completely different outlooks on what’s happening in the country”.

Mr Smith said the OBA “does not disagree with the strength and growth of international business in Bermuda”.

“Coming out of Covid, the rest of the community did not feel the same growth.”

Mr Smith said that it would be “interesting if we could have the actual statistics of the people that are leaving” and maintained that disillusioned citizens were “opting out”.

Kim Wilson, the Minister of Health, stressed that her ministry had taken significant steps to improve the island’s economy through the health of workers.

She reminded the House that there was “a direct correlation” between the country’s health and economic growth.

Ms Wilson emphasised the necessity of universal healthcare and pointed out the Government’s moves to cap the price of healthcare premiums.

Kim Swan thanked David Burt “for doing what hasn’t been done in decades” in delivering a balanced Budget — but found the Premier’s congratulations to be minimal due to a willingness to share credit.

Susan Jackson of the OBA thanked international business for being “an amazing partner in our community”.

She said: “Without the international business contribution, I just shudder to think where we would be.”

Ms Jackson warned that “many countries to the south” are “eating our lunch”.

She added: “We have to work really, really hard to get those foreign investors and our tourists back to our shores.”

Vance Campbell, the Cabinet Office minister, credited the PLP’s “fiscal prudence and sound debt management”.

He pointed out that the Government had frozen fuel prices and reduced payroll taxes.

“This is what financial competency looks like.”

Derrick Burgess, the Deputy Speaker, emphasised that Bermuda was much better off today thanks to the efforts of the PLP government — pointing to payroll tax cuts and assistance to seniors since the party regained power.

Michael Dunkley, of the OBA, highlighted the poor state of the country that made him feel “embarrassed as a Bermudian”.

“We need to understand why so many people have left in recent years,” he said.

Scott Pearman, another Opposition member, criticised the “unnecessary spin” over a balanced Budget for the coming fiscal year when it would not be realised until “after the fact”.

He said the same promise had been made in 2019, which prompted a response from the Premier and Minister of Finance: “Two words: Morgan’s Point.”

After a debate that lasted more than eight hours, Mr Burt closed by saying the Opposition had failed to advance “something concrete to show people what they would do differently”.

The Premier said the OBA’s lone policy proposal had been a fee-for-service model at the hospital, which was discredited by the health minister as a driver of healthcare costs.

The House adjourned until Monday, when the Budget Debate will continue.