Shadow Finance Minister says Bermuda's economic performance is 'disastrous'

THURSDAY, DEC. 9: Bermuda’s Government is out of touch with reality and can’t help Bermuda unless they become more realistic.

This is according to Shadow Finance Minister Bob Richards.

He also hit back at claims made by Senator LaVerne Furbert that the island is better off now than it was 10 years ago.

Speaking at a press conference today, Mr. Richards said: “You all know that the latest figures are out on Bermuda’s economic performance in 2009. If I would characterise them, I would say disastrous.

“One of the things that amazes us that in spite of the evidence, we have Government senators declaring that we are better off than we have been and this kind of represents a complete disconnect from reality.

“There’s been a lot of disconnect from reality from this Government.  Particularly as it relates to the poor people in Bermuda.”

Speaking in the Senate on Wednesday, Sen. Furbert said child activist Sheilagh Cooper had exaggerated poverty in Bermuda.

She added Bermudians had always worked many jobs and the plight was nothing new.

Bur Mr. Richards disagreed and said: “We have a growing number of people who are really struggling to make ends meet.

“A lot of that’s being played out criminally. We have a rise in the criminal under class in Bermuda.

“I believe that’s directly connected to the problems people are having in making ends meet.”

He continued: “It’s really quite sad that we have a Government who creates its own reality. They can never help Bermudians if they don’t face reality as it is.

“It’s a most unfortunate declaration for a member of the ruling party.”

Asked what he would do if he were to create the budget, Mr. Richards said: “We know that revenues are week, have been weak and are going to be weak. 

“We really have to look at Government expenditure. We have to look at Government spending.

“It’s inexplicable to me that the Finance Minister hasn’t come out to Bermuda to say ‘I’m going to take these steps to deal with Government’s spending’.

“We know that revenues will have been weak for the year 2010. It really had to be about austerity. That’s the only way we will survive.”