Chamber's response to Throne Speech

FRIDAY, NOVEMBER 2: Bermuda Chamber Commence President Ronnie Viera issued the following statement in response to the 2012 Throne Speech. 

“The Chamber welcomes any improvement in fiscal management however the speech lacked specifics on how Government plans to reduce the escalation of debt and service that which is outstanding.

"It is aspirational, built on hope that things will improve without any major initiatives or the policy changes which are required to reverse the downward direction of the economy.

"While pleased with the announcement that Government will provide a form of residency for those investing in tourism zoned units, The Chamber questioned why the same consideration should not be offered to those purchasing any property at the very top end of the market.

"The Chamber was also concerned that no mention was made of efforts to stimulate investment in hotel properties by removing the red tape and immigration barriers currently stymieing progress.”