OBA Platform Brief - Economy
Read our plaform brief on Economy.
For the record
By Sylvan Richards, Spokesman for Shadow Finance Board and OBA candidate for Constituency 7, Hamilton South, October 28, 2012
Friday’s report detailing the continuing decline of Bermuda’s economy exposes the hypocrisy of government spin.
Despite what Government has been claiming as their approach, the GDP report by the Department of Statistics clearly reveals that Governments “austerity measures” contributed to the contraction of the Island’s economy and cost people jobs. It states:
“Public administration recorded a 2 per cent drop in economic activity, as austerity measures aimed at cutting overhead expenses were implemented.”
It is now apparent that due to five years of deficits and undisciplined spending, the Government has been forced to implement austerity cuts, and we have seen the fallout in terms of teacher and school layoffs and cutbacks that weakened the ability of charities and community groups to help people in need.
This, ironically, is the same Government that has been trying to portray the One Bermuda Alliance as the party of austerity. The choice in the coming election it says is between growth (them) and austerity (us).
But this is a complete nonsense in light of the facts, as outlined in Friday’s report on Bermuda’s Gross Domestic product.
The choice in this election, therefore, is not growth versus austerity as the Government would have you believe. The choice is between further recession and contraction under this Government, or responsible growth and disciplined, prudent financial management under an OBA government. That’s the choice.
The Department of Statistics report exposes Government’s deeply cynical approach to communicating with the people of Bermuda – a cynicism born from its political needs being more important than truth and honesty. It’s time for change.