Number of thoughts and ideas meaningful to all who care about Bermuda
A call to do what we do when we celebrate our personal birthdays
Where are we?
Economy:
Tourism:
· Holding our own
· US 85% of our visitors
· When measure of tourism is lowest we should not be surprised
o At this time last year we knew it would suffer
§ We might experience lower arrivals, sale and occupancy
§ Matching performance of previous years impossible
§ Credit crises make it hard to secure funding for new construction
· We did not cause this economic downturn
o Did not cause or control effects
· Recovery expected to be slow
· Government continuing to implement strategies to attract visitors
· 3rd pga grand slap -> 300 million US homes and 100 countries
· Music festival -> Awesome talent
o Visitors can’t resist
· Boston red socks giving great exposure
o Should bring more visitors over next few years
· Pushing cause of low cost carrier from here to UK
o Replicate zoom
· Scarcity of capital resulted from credit crunch
o Believes that all projects will come to fruition
§ Realistic:
· We will experience delays
o Hope that we will have financing and break ground Park Hyatt -> Next few months
o Irresponsible to talk about which projects have problems
§ Would not help
o Soon return to platinum period
International Business:
· Continues to value and nurture unique position
· Remarkable achievement of 16 TIAE agreement -> OECD white list
o OECD vice chair -> With Germany and China
§ Powerful illustration of Bermuda’s position in financial world
· Working hard to make sure Bermuda is best possible place
· Constantly attracting new businesses
o 600 new businesses in 2009
o Effective tried and tested regulation model
o Sterling reputation
· Correct falsehood concerning departures to Swiss and Ireland
o Motivated for need to more stable or Government running away
§ Actually they want a more predictable tax environment
· Swiss already has tax treaties and transparent tax system which cannot be changed by US congress unlike us and our competing Oversees Territories
· Companies choosing to take the chance for unchanging tax system
o Government understands and will continue efforts to fight tax legislation
§ Bermuda office
· Step up efforts -> Negative effects US would incur
§ Met with congressional law makers and Attorney General
Other
· Government working on 2 initiatives
· Working with US coast guard -> Training and equipment for drug enforcement on sea
· Morgan’s point opening
· Working on relief for stop list
· Not just written for Bermuda
o We will work to stop people even getting on stop list
· Government commitment to fight crime
o High levels have to stop
o Misdirection of young and drift towards gun crime biggest problems
o Deeply frustrated with current approach
§ Constitutionally we have no say in how fight is managed
· Tell UK government that people of Bermuda need control of BPS
o We need solutions now and we are going to find them
· Tonight we are delivering on our promise for PATI
o Draft PATI bill is in public domain
§ Fridays official gazette with provide more info
o Will be tabled when parliament reconvenes
o Government considers well being of people equally or more important than anything else
§ Free and subsidised healthcare delivered
§ Numerous enjoying future care
· Will continue to be refined
§ We unveiled Bermuda’s first 24 hours drug treatment facility
§ Committed to providing shelters for homeless -> And support they need to become productive again
§ Encourage entrepreneurial excellence
· Economic empowerment zones
§ More aggressive finding jobs
· Identify companies violating immigration laws and force them to stop
· Cease to be motivated by differences of opinion -> Common love of Bermuda
· Focused as one people for one Bermuda
o We only need to reflect for one minute to know that if not for the unity of those who first arrived we would not be here today
· Everyone looking forward to Royal Visit
o Honour
· Summon strength of Bermudian character
o Help less fortunate
o Make prosperity available to all
o With god as out witness we will move toward uniting to become one people for one Bermuda
I shall hopefully find the time go through the speech a bit at a time over the next couple of days so check back soon for my particular opinions on the points presented.The full speech has now been made availible on the RG website.
http://www.royalgazette.com/rg/Article/article.jsp?articleId=7d9a7de30030000§ionId=60
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