Premier: Bermuda's not the same country it was

WEDNESDAY, NOVEMBER 9: No one is indispensable, says Paula Cox.

The Premier was speaking after a series of primaries claimed veteran PLP politicians like Wayne Perinchief and Neletha Butterfield.

She said the party did not have a deliberate policy of introducing fresh faces — but that the PLP would continue to work to attract new talent to its ranks.

Ms Cox said: “A party has to continue to regenerate itself and part of the succession planning is to make sure that no one should be seen as indispensable.

“We have to sow the seeds for growth and development — but you don’t throw the baby out with the bathwater.

“We have a whimsical and wonderful mix of experience with young people, and not-so-young people, coming in.”

Ms Cox, who is also Minister of Finance, said that modern Bermuda was not the same country as it had been in the 1970s or 1980s.

She added: “In the old days, we had a simplistic formula and some of the decisions taken then sowed the seeds of the problems we have today.

“These days, we have to be tough and prepared to take the necessary action — we need innovators and 21st century thinkers. We can’t just coast.

“We can’t pretend we’re caught in a time warp – we have got to make sure we secure our growth and future.

“That means we have to get some of the brightest and the best. That used to be seen as grey hairs, but that’s not the case any more.”

And she took a sideswipe at businessman and former UBP Premier Sir John Swan, who has warned Bermuda’s economy may not recover unless drastic action — like loosening the 60/40 ownership rule and making living in Bermuda easier for business tycoons — takes place.

Ms Cox said Sir John Swan was a long-serving leader “who should be acknowledged and respected” but added that some initiatives suggested by him in the areas of tourism and international business had already been adopted as Government policy.

And she added that the 60/40 rule had already been relaxed for banks and hotels, while the Finance Minister had discretion to recommend further changes to the regulations.

Ms Cox said: “I thought, if anything, he had had access to our Throne Speech or seen an early copy. He wants to see Bermuda succeed and so do I. I want to see Bermuda succeed, but I don’t have a private company axe to grind. There’s no Paula Cox Limited.” Ms Cox said that Bermuda’s tendency in the past to pander to big business had caused some of the problems the island was facing today.

Ms Cox said: “Freedom comes with risk and rewards. We’re not going to just open things up, which will have consequences for smaller businesses.

“We should recognize that, in this tough economic environment, it’s not just big business that requires access to capital.”

Premier Paula Cox says her now-infamous  “cog in the wheel” comment has been misrepresented by political opponents.

And the Premier — who used the phrase in a Bermuda Sun op-ed piece last year — added that she had not been intimidated by the forceful style of former Premier Ewart Brown while Minister of Finance and his deputy.

She said: “Nobody would say at the Cabinet table in the past that I was intimidated or took the easy way out.

“What people have to appreciate is if the ‘yeas’ outvote the ‘nays’, then the ‘yays’ win. It’s not about picking up your marbles and walking away from the table, particularly when you look at the consequences of doing that.

“My job was to represent for the country and that’s what I did.”

She added: “One thing I believe is you have got to let a leader lead at the party level and the country level and there was overwhelming support for that leader.

“It wasn’t my job to over-ride the leader, but to look at the areas which were my remit as Minister of Finance —  you certainly put forward the alternative view if necessary.

“What I would say is that there is a principle of collective responsibility — that changes when you are ‘first among equals’ and I am now the accountable leader.

Brickbats and bouquets

“People make comments, both within and without the party, but the bottom line is I am the Premier and leader of the country. I take the brickbats and the bouquets.”

In the op-ed piece, published in January last year, Ms Cox said: “The Minister of Finance operates as a cog in the wheel. My role is to add value and to provide input on fiscal positions taken in various ministries. I can indicate support or objection. However, the sponsoring Ministers know that I cannot overrule their request unless I have others who join with me and support my position.”