The economy and the cost of living is perhaps the biggest concern of Bermudians today. From our canvassing, from conversations with family and friends, and in some cases our own experiences, we know that many people in Bermuda are struggling to make a living and get by.
We know this is one of the most important problems we need to work on for the Bermudian people.
That’s why our platform states that: “Every person living in Bermuda should have the means to live a dignified life with adequate healthcare, housing and food. Our mission is to ensure that every Bermudian, including the most vulnerable in our society, enjoys this basic right.”
There are many underlying causes for this problem, and while some may be out of our control, many are – and the One Bermuda Alliance is laser-focused to applying maximum effort to improving this for Bermuda.
The cost of living crisis is intertwined with our poor local economy. Government and industry statistics show that since before Covid:
How someone feels about their cost of living is directly related to the economic opportunities available to them – and people’s current mood reflects the local economy’s particularly poor performance under the current Government.
The Government will also want to claim success for reduced inflation – but that’s not much consolation for those stuck with already-high costs, and stagnating opportunity on-island.
The One Bermuda Alliance will tackle the cost of living by:
And, in all of our initiatives, we will take care to care of those most in need.
Local Economy
We believe in a growth mindset, and increasing the size of the economic pie for all. While there is an important and necessary role for direct Government support for those in need, we aim for a future where fewer people even require that support, because they have the opportunity for success.
We will cut red tape and bureaucracy and make it easier for Bermudians to start and run businesses. This includes increasing the certainty and transparency of working with Government. Today, Government ministers often override rules and regulations for some, but not others. We will ensure fair access to Government contracts for all. We will also cut payroll taxes for business that hire young Bermudians, to incentivize their employment.
And, we will attract high quality investment, from overseas and local investors. We will aggressively market to and seek them out – rather than fly to Dubai and CARICOM we will get actual projects and investments working on the ground today, that hire Bermudians and use Bermudian firms.
A growing economy will also attract a larger working population, helping with costs like healthcare and pensions, which can be reduced by spreading them over a larger, younger, and healthier population.
Healthcare
Health care costs and coverage are impacting Bermudians at all economic levels. Some Bermudians can’t afford any healthcare, some can’t retire for fear of losing healthcare, and others struggle with prescription and co-pay costs.
We will ensure that everyone in Bermuda can get good health care with good health outcomes – at an affordable cost. We will do this by working collaboratively with our health care professionals and insurers – not threatening to lock them up.
Food and energy
Like healthcare, food and energy costs are negatively impacted by our smaller working population. Fewer people buying food, gas, and electricity means those businesses need to charge more per person just to cover staff and operating costs. That’s why a growing, more vibrant economy with more workers is part of keeping those costs in control.
However, we’ll immediately cut the Sugar Tax, and work with importers, distributors, and retailers to ensure that savings makes it to the costs of goods experienced by Bermudians. We will also work with local farmers and fishermen to increase local food production. For example, rather than bringing in expensive foreign consultants pitching high-tech and energy intensive vertical farms, we’ll work with our experienced local farmers on “right-tech” solutions that work for Bermuda.
We’ll address energy costs by giving the Regulatory Authority stronger powers to keep electricity costs in check. And, we’ll work on practical and immediately useful expansions of renewable energy, such as streamlining planning and other rules to make solar power feasible for renters and those with lower incomes.
Seniors
Bermuda has an aging population, that needs to be taken care of with dignity and appreciation. Many individuals struggle to afford basic necessities as they age, and many families struggle to pay for care for their elders, including food, housing, and professional assistance. That’s why so many seniors are stuck in the hospital, when they should be somewhere dignified, comfortable, and cost-effective. We’ll support better services for our seniors, whether it to be to support independent living, or provide them a safe place to live with appropriate care.
It would be fair to say all of the above collectively represents an ambitious agenda, which we acknowledge. However, it’s allessential work to arrive at a fair and prosperous Bermuda for all of us.
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