The SpeakerThe SpeakerGood morning, Members. CONFIRMATION OF MINUTES [Minutes of 22 June 2018]
The SpeakerThe SpeakerGood morning, Members. The Minutes from the 22nd of June have been circulated. Are there any amendments, corrections , or omissions that are required? There are none. The Minutes are confirmed as printed. [Minutes of 22 June confirmed] MESSAGES FROM THE GOVERNOR
The SpeakerThe SpeakerThere are none. ANNOUNCEMENTS BY THE SPEAKER OR MEMBER PRESIDING APOLOGIES
The SpeakerThe SpeakerThere is one announcement this mor ning, that Honourable Minister Wilson has indicated that she will not be present today. And we have also been notified this morning that Honourable MP Famous will be attending his daughter’s graduation this morning and [will be] joi ning us this afternoon. MESSAGES FROM …
The SpeakerThe SpeakerThere are none. PAPERS AND OTHER COMMUNICATIONS TO THE HOUSE
The SpeakerThe SpeakerThere are none. STATEMENTS BY MINISTERS AND JUNIOR MINISTERS
The SpeakerThe SpeakerWe have three Statements on the O rder Paper this morning. The first is in the name of the Honourable Premier. Premier, would you like to present your Statement? Hon. E. David Burt: I would, Mr. Speaker.
The SpeakerThe SpeakerWell, you have the floor. Hon. E. David Burt: Thank you very much, Mr. Speaker. Good morning to you.
The SpeakerThe SpeakerGood morning. Hon. E. David Bur t: Mr. Speaker . . . [Inaudible interjections and laughter ] Hon. E. David Burt: I am perfectly happy to wait. As per Standing Orders, the Statement is being delivered to you right now.
The SpeakerThe SpeakerThank you. AMENDING THE BANKS AND DEPOSIT COMPANIES ACT 1999 Hon. E. David Burt: Mr. Speaker, this Government is on the cusp of m arking one full year in office. These 11 months have been a non- stop effort to deliver on what we promised the people of Bermuda and …
Thank you.
AMENDING THE BANKS AND DEPOSIT COMPANIES ACT 1999
Hon. E. David Burt: Mr. Speaker, this Government is on the cusp of m arking one full year in office. These 11 months have been a non- stop effort to deliver on what we promised the people of Bermuda and what they, in turn , gave a resounding mandate of support. Mr. Speaker, while there are some easy short - term fixes for the issues in our community, our r esponsibility as the Government is to take the long view and lay a foundation on which we can build the prosperity for future generations. This incl udes building the necessary capacity for Bermudians to properly reap the benefits of growth in this economy. Mr. Speaker, Honourable Members and the public will recall that in the 2017 Speech from the 2578 29 June 2018 Official Hansard Report
Bermuda House of Assembly Throne we set out our vision for this country , and it is succinctly contained in the follo wing extract from that document (and I quote, Mr. Speaker): “The core of the Government’s philosophy is focused on growing the economy while empowering all Bermudians to b ecome full participants in the economic miracle t hat is Bermuda. The Government will ensure that Berm uda’s success in attracting the most innovative compa-nies from around the globe to Bermuda is increased and that the quality of life for Bermudians is also enhanced by the presence of those companies.” Mr. Speaker, that is exactly what we have been doing in the area of FinTech and distributed ledger technology. The world’s leaders in this area have been attracted to Bermuda directly as a result of the foundation we have laid legislatively and in the regul atory space. The ICO Bill and the Digital Asset Business Act, both passed in this Honourable House, have set the stage for the increased incorporations and growing commitment to doing business in Berm uda by the most innovative companies from around the globe. Mr. Speaker, the business conducted by these companies is not traditional. It does not fit the mould of what we have come to know as Bermuda’s traditional model , and, as such, there is an understandable resistance to providing the measure of support and services which might ordinarily apply in a new growth industry. One such service is banking. In the wake of the global financial cris is and the ever - broadening risk -mitigation strategies, banks are i ncreasing ly risk -averse. Mr. Speaker, while that is understandable, given their risk tolerances, to date local banks have been unwilling to offer services to newly incorporated FinTech and distributed ledger technol ogy companies. Mr. Speaker, the simple fact of the matter is that the FinTech industry’s success globally depends on the ability of the businesses operating in this space to enjoy necessary banking services. In other jurisdi ctions, banking has been the greatest challenge, and, for us in Bermuda, it is equally so ; and must be r esolved. Mr. Speaker, resolving this problem has , in fact, yielded greater opportunity. In our 2017 Platform, we prom ised to (and I quote) “develop domestic capital markets that create local investment vehicles for Bermudians to invest in Bermuda. We must provide the banks with competition and allow local entrepr eneurs alternative access to capital thus boosting local business.” The steps I announce today move us closer to realis ing the fulfilment of that promise. Mr. Speaker, Bermudians need options in banking; the FinTech i ndustry needs an innovative, robust banking solution. Those needs are not mutually exclusive, and this Government is prepared to take the steps necessary to achieve both goals. Therefore, Mr. Speaker, I am pleased to advise this Honour able House and the public that I will shortly table in this Honourable House a Bill that will make amendments to the Banks and Deposit Companies Act 1999 to create a new class of bank.
[Desk thumping]
Hon. E. David Burt: Mr. Speaker, it is important for Honourable Members to be aware that , prior to intr oducing the legislation to regulate digital asset bus inesses, my colleague, the Minister of National Sec urity, along with a technical team, consulted with the Bermuda Bankers’ Association [BBA], outlining the Government’s plan to position Bermuda as a premier jurisdiction for distributed ledger technology. The response received from the BBA was commensurate with their ongoing need to manage their risks to continue to operate in accordance with their existing correspondent banking relationships. Their reticence, no matter how well -founded, cannot be allowed to frustrate the delivery on our promise of economic growth and success for Bermudians. To ensure that the Government is able to effectively execute on its FinTech initiatives, as well as encourage responsible FinTech innovation that pr ovides fair access to financial services and fair treatment of consumer s, the Banks and Deposit Companies Act 1999 will be amended to allow for a new class of bank that will provide banking services to Bermuda- based FinTech companies. Mr. Speaker, I am grateful to the Bermuda Monetary Authority , who have advised on these pr oposals and have confirmed that , in order to achieve these objectives , the Act should be amended as follows: in the first instance, including a new class of l icence that may be granted by the Bermuda Monetary Authority [BMA] called a Restricted Banking Lice nce; and, Mr. Speaker, adding a new Schedule to the Act that outlines the types of business undertakings that restricted banks can service, together with a provision that permits the Minister of Finance, after consultation with the BMA, to amend the business activities, from time to time , to encompass new innovative busi nesses. Mr. Speaker, these amendments will allow for local and international participants to fill a critical need in servicing FinTech companies. However, it is not only FinTech companies that need more banking op-tions, Mr. Speaker . Mr. and Mrs. Bermuda should have more choice and more competition.
[Desk thumping]
Hon. E. David Burt: Therefore, consistent with the pledge made in this year’s Budget Statement, the Mi nistry of Finance has com menced consultation on expanding the types of banks that can operate in Bermuda. Reform of our domestic banking sector is necBermuda House of Assembly essary to reduce costs for Bermudians, while provi ding more opportunities for Bermudians to work and more access to capital , enabling more Bermudians to become owners and not just employees. Mr. Speaker, our traditional banks, those household names, have played their part s in this community over many years. [Inaudible interruptions ]
The SpeakerThe SpeakerMember! Hon. E. David Burt: It is music to people’s ears, Mr. Speaker. [Desk thumping]
The SpeakerThe SpeakerYour words; but not the song. Hon. E. David Burt: Thank you. Mr. Speaker, our traditional banks, those household names, have played their parts in this community over many years. It is a fact of business and a fact of life that survival and growth can only be achieved through …
Your words; but not the song. Hon. E. David Burt: Thank you. Mr. Speaker, our traditional banks, those household names, have played their parts in this community over many years. It is a fact of business and a fact of life that survival and growth can only be achieved through an ability to evolve and to innovate. Legacy industries the world over have lost that ability , and the future belongs to those who can quickly lay a foundati on for growth, respond to emer ging trends , and preserve a reputation for sound management in the process. Mr. Speaker, f or countries , it is no different . And Bermuda must be nimble, or we will be left behind.
[Desk thumping] Hon. E. David Burt: Mr. Speaker, the people of Bermuda demanded change in 2017 and spoke loudly of the need to transcend the transactional and deliver a transformational agenda. The proposals outlined today are a critical first step towards broadening banking services and is a nother step forward in the commitment we made to building a better and fairer Bermuda. Thank you, Mr. Speaker.
[Desk thumping]
The SpeakerThe SpeakerThank you, Mr. Premier. I think the next Statement on the Order Paper is that from the Deputy Premier. Sir, Honourable Member, would you like to take the floor. Hon. Walter H. Roban: Thank you very much, Mr. Speaker.
The SpeakerThe SpeakerContinue. ENERGY EFFICIENCY: A THRONE SPEECH INITIATIVE Hon. Walter H. Roban: Mr. Speaker, the Ministry of Transport and Regulator y Affairs would like to share with this Honourable House the status of the Energy Rebate Initiative . This is an initiative identified in the 2018/19 Budget [Brief], whose purpose is …
Continue. ENERGY EFFICIENCY: A THRONE SPEECH INITIATIVE
Hon. Walter H. Roban: Mr. Speaker, the Ministry of Transport and Regulator y Affairs would like to share with this Honourable House the status of the Energy Rebate Initiative . This is an initiative identified in the 2018/19 Budget [Brief], whose purpose is to reestablish the energy rebate programme, but this time primarily targeted to seniors and low -income hous eholds. Mr. Speaker, as many will recall, the first solar rebate initiative was launched by the previous PLP Administra tion on September 30, 2009. It was d esigned to encourage homeowners to install photovo ltaic systems on their property and to stimulate the local solar installation market. The programme offered a rebate of one dollar per watt, up to a maximum of 5,000 watt s (five kilowatts) of installed capacity on residential properties. At the end of fiscal year 2014/15, the Depar tment of Energy had issued over $800,000 in solar rebates. Because of that original initiative, there are approximately 220 homes interconnected to the grid, selling their excess energy to BELCO, and about 65 homes using solar water heating. Over the lifetime of these installations, we have offset more than 950 met-ric tons of carbon dioxide emissions from the env ironment, which is similar to taking about 200 cars off the road. This also means Bermudians have not spent that money buying foreign oil, which works out to be about $235,000 a year. These conservative estimates [ prove] that this initiative has yielded an excellent return on the Go vernment’s investment. Mr. Speaker, it is recognised, however, that although the previous rebate structure achieved pos itive results, it would not be enough to simply reboot the old scheme. Under the old scheme, those who could already afford solar technologies were provided additional incentive to proceed with installation. As such, Mr. Speaker, it is recognised that, this time, we must arrive at measures to reach those who need it most. The Department of Energy was tasked with finding ways in which a new initiative might be launched that could prov ide a greater societal benefit. Solar technologies are only one way to effectively offset carbon emissions and retain Bermudian dollars in the local economy, and the other means have gone largely unexplored. Mr. Speaker, we are all acutely aware that electricity is a major line item in household expenditures. Lighting can account for be-tween 10 and 15 per cent of household annual electricity consumption. Traditional water heating accounts for between 15 and 30 per cent of a household’s energy use. Employing energy saving strategies, such as timers on water heaters, can help to dramatically reduce electricity bills. 2580 29 June 2018 Official Hansard Report
Bermuda House of Assembly Therefore, Mr. Speaker, the first phase of the Energy Rebate Initiative will target seniors and low - income households for the purpose of installing sim ple energy efficient technologies in homes. The Depar tment of Energy has been working with Financial A ssistance and the Bermuda Housing Corporation to identify those most in need, and will be tracking savings to assess performance over time. The Ministry of Transport and Regulatory Affairs will work with the energy sector stakeholders , through a fair and open procurement process , to purchase and install simple energy efficient technologies, such as water heater timers and LED lights, in homes across the Island. This will have more impact than just being a benefit to the end users; it also will be an investment in, and provide support for, local businesses. This aligns with the Government’s goal of creating opportun ities for Bermudians. Finally, Mr. Speaker, the Department of Energy is reviewing strategies regarding actual rebates for the deployment of s olar photovoltaic systems (which generate electricity) and solar thermal systems (which generate heat). It is intended that the rebate will be on a sliding scale, depending on the annual rental value of properties. This will seek to provide more incentive for those who own smaller properties, who may need assistance to invest in technologies that they would otherw ise not be able to afford. A more extensive evaluation is currently underway to ensure that this piece of the new Energy Rebate Initiative reaches the intended demographic. In closing, Mr. Speaker, the Ministry of Transport and Regulatory Affairs is commit ted to i nvesting in pragmatic cost -effective solutions for seniors and low -income households that will assist in r educing their electricity expenditures. The added ben efits are mani fold: we will create business opportunities for Bermudians; we will improve the economy, at least in a small way, by retaining local currency on the Island; and we will benefit the environment , by avoiding the production of some greenhouse gases , through the deployment of the technologies mentioned. This, Mr. Speaker, is the true essence of sustainability —good for the people, good for the economy, and good for the environment. Thank you, Mr. Speaker.
The SpeakerThe SpeakerThank you, Deputy Premier. The final Statement this morning is from the Minister of Works. Minister, would you lik e to present your Statement? Go right ahead.
The SpeakerThe SpeakerGood morning. WASTE MANAGEMENT
Lt. Col. Hon. David A. BurchI rise to report on the current status of garbage collec tion. S ince my last report on April 17 th, there has been an ever -increasing acceptance of the new once- a-week garbage collection. So, let me again thank the people of Bermuda, who have, generally , transitioned smoothly …
I rise to report on the current status of garbage collec tion. S ince my last report on April 17 th, there has been an ever -increasing acceptance of the new once- a-week garbage collection. So, let me again thank the people of Bermuda, who have, generally , transitioned smoothly to the change in schedule. Mr. Speaker, I am also pleased to report that the Waste Management staff are adequately coping with the new schedule, even with a limited number of available vehicles. With, on average, eight trucks in service daily, we are able to cope with current staffing levels and , as such , we will not be hiring additional staff at this time . We are still experiencing some challenges with truck maintenance , as the number of trucks in the fleet is still well below optimum. There is now a collaborative approach between the maintenance staff based at the Quarry and the operational staff based at Marsh Folly. Mr. Speaker, you will recall that a team travelled to the UK in April to ins pect and test the new trucks that we were looking to purchase. Five trucks have now been ordered and are expected to arrive on Island in late November. I must caution, though, that, even with the purchase of five new trucks , we will still not be at a full complement of vehicles , as many of the trucks currently in the fleet have surpassed their life expectancy. Over the course of the once- a-week collection period, I can repor t that we have seen a levelling- off in the amount of household waste collected when compared to last year’s twice -a-week figures. You will readily see from the attached chart that virtually the same amount of household waste is being collected this year versus last. Concurrently, Mr. Speaker, we have seen a steady increase in those using the public drop- off since the extension of operating hours on Saturdays. I have asked the plant manager to explore with the operator the feasibility of further extending the hours to make it even more convenient to members of the public des irous of utilis ing this facility. One of the significant benefits of this new scheduling is the reliability factor and consistent co llection of waste on the day scheduled. Likewise , the overtime expenses for waste collection, to date, of $26,227.25 has almost exclusively been a result of collection following public holidays and is dramatically less than the $250,000 spent last year on overtime in this quarter alone. And, of course, Mr. Speaker, we have not just saved money as a result of this new scheduling; there have been savings in fuel, wear and tear on vehicles, illness and injuries. Not surprisingly , staff morale has improved, as well . These workers , who take great pride in their work , are pleased that they can actually
Bermuda House of Assembly deliver o n what has been promised. They have been actively engaged in assessing the progress over the period, with recommendations covering the entire o peration, but most notably in the challenges with the pickup zones. As we approach the summer months , we increas e the amount of garbage we produce , with a peak over the Cup Match weekend. Collection for those two days will occur on Saturday , August 4th. Since the coverage areas are reduced, we anticipate being able to comfortably manage collection on that day. Mr. Speaker, I will be announcing, shortly , the plan for the re- introduction of bulk waste pick up in some form to assist the community. It will most likely be on a request basis rather than scheduled so that we can better manage funding for this unbudgeted expense. So, with that back ground and all of the pos itive outcomes noted above , the reality is that we ca nnot contemplate a return to twice -a-week collection anytime soon, with the limited number of vehicles available . So, once- a-week garbage collection will continue until at least year end. Long before we reach that point , however, Mr. Speaker, we will have concluded all of the back ground work and alternative options necessary to make a firm recommendation to Cabinet on the way forward, to be followed shortly thereafter with a public announcement. Immediately , though, there will be some minor adjustments to the collection schedule for some ar eas, to minimis e the need for overtime work in those zones. In short , they are as follows : • Monday collection— the easternmost boundary will move from Church Road to Waterlot on Middle Road t o Sinky Bay on South Shore Road; • Tuesday collection—from Cobbs Hill to Chapel Road, S Hill to Southcote Road; • Wednesday —fro m Trimingham Hill to Tee Street; • Thurs day—from Tee Street to Devil ’s Hole ; and • Friday —the collection zones will remain the same . Mr. Speaker, those adjustments will become effective after the Cup Match holiday on Monday , August 6th. A map of the new boundaries will be pu blished , along with an extensive media campaign to advise of those changes. Additionally, in response to several requests from members of the public to further extend the opening hours of the public drop- off on Sundays , we have agreed an adjustment with the service provider ; those changes will also become effective on August 6th. Mr. Speaker, I wish to assure the Members of this House and the public that we will continue to as-sess this situation, take the necessary steps to a ddress any unforeseen challenges , and efficiently ad-dress the management of our waste, going forward. All of us can help in that regard, however, Mr. Speaker, by reducing the amount of waste we generate, r ecycling and composting food waste. We are experiencing an increase in maggots in the waste. T his is m ainly due to a combination of food waste and the climate, which are the perfect conditions for them to flourish. Some members of the public have suggested lidded trash bins and freezing food waste until the day of col lection. I know that our Education Offi cer would wish that I recommend to you, Mr. Speaker, and to Members of this House and to the general public that you also consider composting —which is a painless way of helping the environment , as well as successfully di sposing of food waste without running the risk of attracting feral chickens, cats , or vermin to your trash. Of course, it is made considerably easier , Mr. Speaker, if you purchase a composting bin from any of the local hardware stores . Or, the best type can be pu rchased from the Ministry of Public Works , and I have taken the liberty of attaching a flyer to this Statement and providing information where you can do so. May I also add that I have received several recommendations from members of the public , some of which were already considered —but several were not and will be included in the discussions , going forward. Mr. Speaker, let me end where I began, by thanking the public for adapting to this new collection schedule, and those workers in Waste Management who do an outstanding job in collecting our waste, under the most trying circumstances. I encourage members of the public to give a thought and even express thanks directly to those workers , who so eff iciently collect our garbage every week. Thank you, Mr. Speaker.
The SpeakerThe SpeakerThank you, Minister. That brings us to a close of Statements. REPORTS OF COMMITTEES
The SpeakerThe SpeakerThere are none. QUESTION PERIOD
The SpeakerThe SpeakerWe are now on Question Period. We will begin with the written questions. And again, Members, we have 60 minutes , and it is now 10:28. WRITTEN ANSWER
The SpeakerThe SpeakerThe first is a written question that was submitted to the Premier by the Honourable Member Dunkley. I believe the written response has been forwarded. Do you have your response? Good. 2582 29 June 2018 Official Hansard Report Bermuda House of Assembly QUESTION: CABINET OFFICE CONSULTANTS Hon. Michael H. Dunkley: …
The first is a written question that was submitted to the Premier by the Honourable Member Dunkley. I believe the written response has been forwarded. Do you have your response? Good.
2582 29 June 2018 Official Hansard Report
Bermuda House of Assembly QUESTION: CABINET OFFICE CONSULTANTS
Hon. Michael H. Dunkley: Would the Ho nourable Premier please inform this Honour able House of all paid consultants currently hired in the Cabinet Office; and provide details of their responsibility, remuneration and length of contract?
The SpeakerThe SpeakerThe next question is a written question to the Honourable Minister Brown, from the Honour able Member Gordon- Pamplin. And both questions are for oral response. Member, would you like to put your questions to the Minister?
Mrs. Patricia J. Gordon -PamplinThank you, Mr. Speaker, and good morning, colleagues. Good mor ning to the public.
The SpeakerThe SpeakerGood morning. QUESTION 1: BERMUDA PASSPORTS
Mrs. Patricia J. Gordon -PamplinMy question to the Minister: Would the Honourable Minister please advise this Honourable House what progress has been made in negotiations with Her Majesty’s Passport O ffice (HMPO) in respect of the is suance of new Bermuda passports with the required BMU code?
The SpeakerThe SpeakerMinister. Hon. Walton Brown: Thank you, Mr. Speaker, and good morning, colleagues. Mr. Speaker, there has been limited, little pr ogress toward resolving the issue as experienced by travellers who have the BOTC [ British Overseas Terr itories Citizen] Bermuda passport with the new code. Discussions continue with HMPO, and …
Minister. Hon. Walton Brown: Thank you, Mr. Speaker, and good morning, colleagues. Mr. Speaker, there has been limited, little pr ogress toward resolving the issue as experienced by travellers who have the BOTC [ British Overseas Terr itories Citizen] Bermuda passport with the new code. Discussions continue with HMPO, and a chronology of such discussions is detailed below: • In February this year, I met with the UK Office on this matter. • On May 3 rd, we had email communication with HMPO, reminded them of the issues . • On May 24th, we had email communication with HMPO, advising them of reported cases to the US Consul General of challenges i nvolved with the passports.
Mrs. Patricia J. Gordon -PamplinMr. Speaker, could the Honourable Member advise wh ether there have been any further discussions with Members of either the House of Commons or the House of Lords in terms of their attempt to further this issue by using their influence on HMPO? Hon. Walton Brown: No. To date, we …
Mr. Speaker, could the Honourable Member advise wh ether there have been any further discussions with Members of either the House of Commons or the House of Lords in terms of their attempt to further this issue by using their influence on HMPO?
Hon. Walton Brown: No. To date, we have not contacted any of the Members of Parliament or Members of the House of Lords. We have been dealing primar ily with the civil service on this matter.
The SpeakerThe SpeakerThank you, Minister. Supplementary , or new question?
Mrs. Patricia J. Gordon -PamplinYes—no, actually, it is probably going to be a new question.
The SpeakerThe SpeakerA new question? Okay. QUESTION 2: BERMUDA PASSPORTS
Mrs. Patricia J. Gordon -PamplinYes. Would the Minister indicate whether he was premature in saying that there was no need to worry and that there was no need to budget, because the matter had been brought under control when he a ddressed this issue in March, as we debated the Budget?
The SpeakerThe SpeakerThank you. Minister. Hon. Walton Brown: Mr. Speaker, there is no need to be overly concerned. We have ongoing discussions with the UK HMPO on this matter. We do believe that we will make progress. It is time- consuming, but we will make progress on this matter.
The SpeakerThe SpeakerThank y ou, Minister. Supplementary or a new question?
Mrs. Patricia J. Gordon -PamplinYes. Will the Mi nister acknowledge that the disenfranchising of Berm udians in terms of the benefits that they get from the visa-free entry into the United States has been ser iously compromised? Bermuda House of Assembly The Speaker: Minister. Hon. Walton Brown: Well, we still have visa -free entry …
Yes. Will the Mi nister acknowledge that the disenfranchising of Berm udians in terms of the benefits that they get from the visa-free entry into the United States has been ser iously compromised?
Bermuda House of Assembly The Speaker: Minister.
Hon. Walton Brown: Well, we still have visa -free entry to the United States, Mr. Speaker. The question is the extent to which the airlines recognise that. The US Consul has issued a statement and sent out notific ations to indicate that Bermudians do have visa- free access to the United States. They just sent it out r ecently. So, we very much have that access still in place.
The SpeakerThe SpeakerThank you. Supplementary or new question?
Mrs. Patricia J. Gordon -PamplinIn light of the Mi nister’s response, the issue . . . will the Minister accept that the issue is not necessarily with the airlines, but it is rather with the customs and border control of the [US]? And that is the point at which residents are being stopped when …
In light of the Mi nister’s response, the issue . . . will the Minister accept that the issue is not necessarily with the airlines, but it is rather with the customs and border control of the [US]? And that is the point at which residents are being stopped when they are attempting to enter into the United States from points foreign.
The SpeakerThe SpeakerThank you. Minister. Hon. Walton Brown: Well, that is not an issue now, because the United States Government has undertaken a sustained campaign to inform all of the border agents of the fact that Bermudians do not require the visa. They have made a concerted effort to pass that information …
Thank you. Minister. Hon. Walton Brown: Well, that is not an issue now, because the United States Government has undertaken a sustained campaign to inform all of the border agents of the fact that Bermudians do not require the visa. They have made a concerted effort to pass that information on. And I expect it will be fully disseminated to all relevant border agents.
The SpeakerThe SpeakerThank you, Minister. Okay. No further questions? No further questions. We will now move on to the . . . Oh, you have a second question? Okay. Yes, that is right. Do your second question. Fine.
Mrs. Patricia J. Gordon -PamplinThank you, Mr. Speaker. Mr. Speaker, my second question to the Mi nister . . . well, may I just get some guidance, sir?
The SpeakerThe SpeakerOkay. QUESTION 2: BUS DRIVER DISPUTES
Mrs. Patricia J. Gordon -PamplinThe question as it is printed on the Order Paper is different from the question that was submitted. And I am thinking that there was some intervention with respect to the wor ding of the question. The C lerk: An email was sent to you regarding that matter, Ms. Gordon- …
Mrs. Patricia J. Gordon -PamplinI had not r esponded. The Clerk: Hmm. We sent an email.
Mrs. Patricia J. Gordon -PamplinOkay. All right. The question as it is worded is, Will the Ho nourable Minister advise the Honourable House, what is the rationale for sending the dispute between the Government and the Department of Public Transportation relating to the recent action by bus drivers to the Labour Disputes Tribunal? And …
Okay. All right. The question as it is worded is, Will the Ho nourable Minister advise the Honourable House, what is the rationale for sending the dispute between the Government and the Department of Public Transportation relating to the recent action by bus drivers to the Labour Disputes Tribunal? And given, if I may, Mr. Speaker, that I understand that this is the procedure, I am not sure that I want to know about the rationale. Because I understand what the rationale is. That was not what I was trying to get at. Hon. Walton Brown: Okay. Mr. Speaker, to clarif y, the dispute as reported was between the Bermuda Industrial Union on behalf of its workers and the D epartment of Public Transportation, first of all. In accordance with section 3(1) of the Labour Relations Act 1975, any person party to a dispute may report the same to the Manager of Labour Relations Section, who shall endeavour to conciliate the parties and effect a settlement by all means at his disposal. Pursuant to sections 4 and 11 of the Labour Disputes Act 1992, once a labour dispute is appr ehended, the Minister may declare that a dispute exists by a notice published in the Gazette and refer the di spute for a settlement to the Labour Disputes Tribunal. A dispute was reported to the Manager of Labour Relations Section surrounding the planned action by the Bermuda Industrial Union and its workers to not report to work on Monday, June 18, 2018, as a result of an impasse reached regarding 12 outstanding i ssues. Conciliation conducted by the Labour Relations Section was unsuccessful, and the Minister was advised accordingly. As the workers concerned were not within an essential service or an essential industry, the Minister published a notice under the Labour Disputes Act 1992 to declare that the planned withdrawal of labour is unlawful.
The SpeakerThe SpeakerContinue, Member. Is it a supplementary or a new question?
Mrs. Patricia J. Gordon -PamplinIt is a supplementary.
The SpeakerThe SpeakerOkay. 2584 29 June 2018 Official Hansard Report Bermuda House of Assembly SUPPLEMENTARIES
Mrs. Patricia J. Gordon -PamplinMr. Speaker, and I thank the Minister for his response, because that is exactly as I understand it to be. But, during the negotiations, will the new bus schedule be addressed, if that is likely to help ameli orate the challenge that is existing as one of the twelve issues …
Mr. Speaker, and I thank the Minister for his response, because that is exactly as I understand it to be. But, during the negotiations, will the new bus schedule be addressed, if that is likely to help ameli orate the challenge that is existing as one of the twelve issues that were outstanding?
Hon. Walton Brown: That is an issue that is beyond my ministerial responsibility, so I am going to leave that one alone. But I will say that the matter has now been resolved. It is no longer before the Tribunal.
The SpeakerThe SpeakerThank you. Any further questions? Supplementary?
Mrs. Patricia J. Gordon -PamplinI think I have a new question . . . or, sorry, a supplementary based on what the Minister has just said.
Mrs. Patricia J. Gordon -PamplinHe said t hat the matter has been resolved. Can the Minister give us some indication as to what the resolution was in the circumstance? Hon. Walton Brown: They resolved to withdraw the “Work -to-rule” undertaking and sit down and talk through all of their issues.
Mrs. Patricia J. Gordon -PamplinOkay. Thank you.
The SpeakerThe SpeakerThank you. No further questions? We now move on to the questions in regard to the Statements that were given this morning by Mini sters. And we have had two Members indicate that they would li ke to put questions to Ministers. The first is from the Opposition Leader in …
Thank you. No further questions? We now move on to the questions in regard to the Statements that were given this morning by Mini sters. And we have had two Members indicate that they would li ke to put questions to Ministers. The first is from the Opposition Leader in reference to the Statement that was given by the Premier. Honourable Member, would you like to pr esent your question?
QUESTION 1: AMENDING THE BANKS AND DEPOSIT COMPANIES ACT 1999 Hon. Jeanne J. Atherden: Thank you, Mr. Speaker. Mr. Speaker, through you to the Premier and the Minister of Finance: In the Statement, the Premier indicates that there is an intention for the BMA [Bermuda Monetary Authority] to grant a restricted ban king licence. And I understand that, obviously, this is part of what I call a work in progress. But I just wo ndered if the Minister of Finance is able to clarify the fact that, right now . . . Sorry. First of all, before I start, I must declare my interest. Okay? I must declare my interest.
The SpeakerThe SpeakerYes. Go ahead. Hon. Jeanne J. Atherden: I must declare my interest; I am director of a bank. So I am declaring that b ecause I do not want anyone to—
An Hon. Member An Hon. MemberWhich one? Hon. Jeanne J. Atherden: Does it matter which one? Does it matter which one? I have declared my inter-est.
The SpeakerThe SpeakerContinue on, Member. Hon. Jeanne J. Atherden: So, getting back to my question, my concern is that, right now under the BMA Banking and Deposit Licence, the curr ent banks have to have a schedule of products, et cetera, which they have to offer in order to make sure that …
Continue on, Member.
Hon. Jeanne J. Atherden: So, getting back to my question, my concern is that, right now under the BMA Banking and Deposit Licence, the curr ent banks have to have a schedule of products, et cetera, which they have to offer in order to make sure that they uphold their licence. And so, now with this restricted banking licence, I am presuming then that the BMA will ind icate certain functions that this restricted bank will be able to offer. And I just wondered. I understand perhaps a lot of these will be related to FinTech activities, and I know that the FinTech space is expanding quite rapi dly. But I just wondered, because the Minister has indicated on page 4 that “consultation on expanding the types of banks that can operate in Bermuda” and “reform of our domestic banking sector [are] necessary to reduce costs for Bermudians . . . ,” it almost sounded like this restricted licence was not just go ing into the FinTech space, but was actually going into the domestic banking space. And I just wondered how —
The SpeakerThe SpeakerAre you going to put your question to him? [Laughter] Hon. Jeanne J. Atherden: And my question to the Premier . . . that is what I say, I was just wondering how—
The SpeakerThe SpeakerMm-hmm. Hon. Jeanne J. Atherden: I was just wondering how the BMA and the Minister will deal with the fact that section 14 does require certain activities. And will they make sure that the difference between the restricted licence and the general licence does not potentially creep into w hat …
Mm-hmm. Hon. Jeanne J. Atherden: I was just wondering how the BMA and the Minister will deal with the fact that section 14 does require certain activities. And will they make sure that the difference between the restricted licence and the general licence does not potentially creep into w hat one has in terms of the unrestricted licence?
Bermuda House of Assembly The Speaker: Thank you. Mr. Premier, would you like to respond?
Hon. E. David Burt: Oh, yes.
The SpeakerThe SpeakerAll right. The floor is yours.
An Hon. Member An Hon. MemberSay Yes. [Laughter] Hon. E. David Burt: Mr. Speaker, the statement was . . . the statement —I say statement, it was not a question—was very long. So I would say that I am kind of lost insofar as what the Shadow Minister was getting at. But I appreciate that …
Say Yes.
[Laughter]
Hon. E. David Burt: Mr. Speaker, the statement was . . . the statement —I say statement, it was not a question—was very long. So I would say that I am kind of lost insofar as what the Shadow Minister was getting at. But I appreciate that the Shadow Minister of F inance and Oppositi on Leader declared her interest as the Director of the Bermuda Commercial Bank. Allow me, Mr. Speaker, to state that I think that my Statement was relatively clear, that these banks themselves will be restricted and the compa-nies of whom they will be rest ricted to in the initial instance is to serve FinTech companies. And it also stated that the Minister will be given the power, as is consistent with the other items inside of the Schedule of that particular section of the Act, to amend that Schedule after consultation with the Bermuda Mon etary Authority. I think what I said further in the Statement is in keeping with what we stated in our Budget [Stat ement], that we will engage in further consultation to broaden the range of local banking options inside of the country. But here is the thing, Mr. Speaker, and it is very, very simple. Existing banks need not to worry, because existing banks are not doing this business anyway.
[Inaudible interjections and laughter ]
Hon. E. David Burt: Whether it is the bank of whom the Shadow Minister sits on the board of, or others, they are not doing this business currently anyhow. And the fact is that, in order to ensure the success of this business and in order to ensure growth in a properly regulated environment, we nee d to allow e ntrants into the market that are willing to serve these businesses. That is what we are trying to do. And I would hope that we would have the support of the Opposition in this matter, as I hope that they would like to see economic growth as muc h as we would like to see it.
The SpeakerThe SpeakerAny supplementaries? Supplementary? Hon. Jeanne J. Atherden: Supplementary.
The SpeakerThe SpeakerI will take the supplementary from the Honourable Member. SUPPLEMENTARY Hon. Jeanne J. Atherden: Thank you for the answer from the Premier, but he did not deal with my concern. This Statement says “ reform of our domestic banking sector is necessary to reduce costs for Bermudians , while providing …
I will take the supplementary from the Honourable Member.
SUPPLEMENTARY
Hon. Jeanne J. Atherden: Thank you for the answer from the Premier, but he did not deal with my concern. This Statement says “ reform of our domestic banking sector is necessary to reduce costs for Bermudians , while providing more opportunities for Bermudians to work and more access to capital . . .” So, I understand what we are doing with respect to FinTech. But the mere fact that the domestic banking and the cost to Bermudians was actually introduced in the Statement, I wondered whether that meant that the Minister had some visio n that the FinTech banks might go further into the domestic market in some way because that would somehow reduce the cost.
The SpeakerThe SpeakerPremier. Hon. E. David Burt: Mr. Speaker, I will refer the Ho nourable Opposition Leader to the Statement. And it says, “Mr. Speaker, these amendments will allow for local and international participants to fill a critical need in servicing FinTech companies. However, it is not only FinTech companies that need …
Premier.
Hon. E. David Burt: Mr. Speaker, I will refer the Ho nourable Opposition Leader to the Statement. And it says, “Mr. Speaker, these amendments will allow for local and international participants to fill a critical need in servicing FinTech companies. However, it is not only FinTech companies that need more banking op-tions; Mr. and Mrs. Bermuda should have more choi ce and more competition. Therefore, consistent with the pledge made in this year’s Budget Statement, the Mi nistry of Finance has commenced consultation on expanding the types of banks that can operate in Ber-muda. Reform of our domestic banking sector is necessary to reduce costs for Bermudians . . .” I would encourage the Opposition Leader to read the entire Statement in where we stated that, in the first instance, we are introducing a restricted banking licence; in the second instance, consistent with what we laid out in our Budget Statement, we are commencing consultation for the reform of our domestic banking sector.
The SpeakerThe SpeakerThank you. Any other Member? [Inaudible interjections]
The SpeakerThe SpeakerMr. Simons! Mr. Simons! Mr. Simons. [Inaudible inter jections and laughter ]
The SpeakerThe SpeakerMembers! Members. The bank is well represented in these Chambers, yes. We recognise the Honourable Member, Mrs. Jackson. Mrs. Jackson, you have the floor. 2586 29 June 2018 Official Hansard Report Bermuda House of Assembly QUESTION 1: AMENDING THE BANKS AND DEPOSIT COMPANIES ACT 1999
Ms. Susan E. JacksonMr. Speaker, good morning. So, my question to the Minister of Finance is . . . and I would like to disclose my interest that I, too, work for a bank. My question is that the Minister of Finance just stated that he was creating a new class of bank …
Mr. Speaker, good morning. So, my question to the Minister of Finance is . . . and I would like to disclose my interest that I, too, work for a bank. My question is that the Minister of Finance just stated that he was creating a new class of bank that is doing business that other banks in this country do not do. And I am also hearing the contradiction that says that he is going to be providing local banking services to local customers, local Bermudians, and providing the same k inds of services. [Inaudible interjections]
Ms. Susan E. JacksonThe loan and other capabil ities, local investment vehicles, et cetera, which and what are these that are going t o be so different from what is being offered locally now?
The SpeakerThe SpeakerThank you, Honourable Member. Premier. Hon. E. David Burt: Mr. Speaker, here is what is i nteresting. Yesterday afternoon, because this Gover nment believes in consultation, I convened a meeting of Bermuda Bankers’ Association and the Ministry of Finance where I explained these issues in full. And I had the …
Thank you, Honourable Member. Premier. Hon. E. David Burt: Mr. Speaker, here is what is i nteresting. Yesterday afternoon, because this Gover nment believes in consultation, I convened a meeting of Bermuda Bankers’ Association and the Ministry of Finance where I explained these issues in full. And I had the support of Bermuda Bankers’ Association in these particular issues. So I am surprised by the ques tions that are coming from the other side. However, let me attempt to assuage the Ho nourable Member, who works for a local bank inside this country. The fact is that local banks do not currently have the risk appetite to accept persons inside of the digital asset space. Therefore, there are persons who wish to enter the banking space to provide banking services to those companies. The restricted licence will enable them to provide services to those companies and those companies only. The book of business of which the Honour able Member’s b ank of whom she currently works for will not be affected, because the book of business of which the Honourable Member’s bank currently does, does not do this business, and neither will the other thing. I think it is relatively simple. So, if you are a digital asset business and if somebody wants to set up a bank, maybe it will be, you know, the St. George’s We- Are-Not-Going- to-Win-Cup- Match- ThisYear’s Bank — [Inaudible interjections and general uproar ] Hon. Zane J. S. De Silva: Point of order! The Honourable Member is impugning the integrity of a great team!
[Laughter]
The SpeakerThe SpeakerAny other questions for the Minister? Hon. E. David Burt: Mr. Speaker, I was not done yet. I apologise. Can I continue?
The SpeakerThe SpeakerYes. Hon. E. David Burt: Because I think it is very i mportant. I am sorry. What I wanted to say is, if Madam Renee Ming wanted to open up a bank and wanted to open a restricted bank, she would only be able to service FinTech clients. Simple, Mr. …
Yes.
Hon. E. David Burt: Because I think it is very i mportant. I am sorry. What I wanted to say is, if Madam Renee Ming wanted to open up a bank and wanted to open a restricted bank, she would only be able to service FinTech clients. Simple, Mr. Speaker! So I am trying to make i t as clear as possible. The Statement, I think, made it clear. But in addition to that, our Budget Statement said that we have to do more because it is not only the digital asset business sector that needs better banking services; it is also Mr. and Mrs. B ermuda who need to have better services from a bank.
Some Hon. Members Some Hon. MembersYeah! Yeah! Yeah! [Desk thumping]
The SpeakerThe SpeakerHonourable Members, we can settle back down. Honourable Member, do you have a further supplementary?
Ms. Susan E. JacksonSo, before I proceed then, I am taking the clarification that any of the investment vehicles that would be—
An Hon. Member An Hon. MemberQuestion?
Ms. Susan E. JacksonI am just clarifying. That any of the investment vehicles that would be offered to Bermudians would be within the FinTech cryptocurrency platform versus any fiat currencies that are out there? So, this is completely just in the FinTech field, even if it has to do with local investment vehicles? …
The SpeakerThe SpeakerNow you can put your question. Yes. B ermuda House of Assembly SUPPLEMENTARY
Ms. Susan E. JacksonMy supplementary question is going to the piece about the Bermuda Banker’s A ssociation. And I would like the Minister of Finance to please tell me, What is the reticence and why are they . . . what is it that the low -risk appetite . . . give me …
My supplementary question is going to the piece about the Bermuda Banker’s A ssociation. And I would like the Minister of Finance to please tell me, What is the reticence and why are they . . . what is it that the low -risk appetite . . . give me a list and the reasons why the banks are reticent about this?
The SpeakerThe SpeakerPremier. Premier. The questions are yours. Hon. E. David Burt: Mr. Speaker. Mr. Speaker. [ Inaudible interjections]
The SpeakerThe SpeakerMembers, Members, Members. Hon. E. David Burt: Mr. Speaker.
The SpeakerThe SpeakerYes. Hon. E. David Burt: Next week, I will travel to Mont ego Bay, Jamaica. And I will travel to Montego Bay, Jamaica, to be part of the CARICOM heads of go vernment meeting. And CARICOM is convening a meeting, a special meeting, of Caribbean finance mi nisters, or CARICOM …
Yes. Hon. E. David Burt: Next week, I will travel to Mont ego Bay, Jamaica. And I will travel to Montego Bay, Jamaica, to be part of the CARICOM heads of go vernment meeting. And CARICOM is convening a meeting, a special meeting, of Caribbean finance mi nisters, or CARICOM finance ministers. And during that, there is going to be a serious discussion of the challenges that are being faced by de- risking from correspondent banks and the challenges which that has presented to CARICOM countries. Mr. Speaker, let me just try to make it very clear that this issue is a difficult issue. And the reason why existing banks may be reticent to do this type of business is because if you have a $1 billion book of business and there may be a new line of business which may be wor th $50 million, but it could put at risk your $1 billion book of business, do you want to risk all of that for something new? I recognise the reasons why the banks do not wish to, because it could put in jeopardy their correspondent bank relationships. And that is the reason why the existing banks are in support of this measure, because it will enable the country to possibly offer banking services to these clients, under companies that will have a restricted banking licence. And the reason why the existing banks are supportive of this, Mr. Speaker, is very si mple. If we have economic growth in Bermuda, that means there will be more jobs, more economic oppor-tunity, and more business for the existing banks. [ Desk thumping]
The SpeakerThe SpeakerThank you, Mr. Premi er. We have a supplementary from the Honour able Member Simons.
The SpeakerThe SpeakerMembers, Members, Members! SUPPLEMENTARY
Mr. N. H. Cole SimonsT he Premier and t he Minister of Finance indicated that the restricted licence will be restric ted to the FinTech industry. My question is this.
Mr. N. H. Cole SimonsWhen that restricted licence is issued, will the bank be able to provide a full suite of services, that other banks provide, to the FinTech i ndustry?
The SpeakerThe SpeakerMr. Premier, would you like to give a response? Hon. E. David Burt: Mr. Speaker, I will refer the Ho nourable Member to the answer I gave minutes ago. If you woul d look at the Statement, it makes it very clear that the services to be provided under a …
Mr. Premier, would you like to give a response? Hon. E. David Burt: Mr. Speaker, I will refer the Ho nourable Member to the answer I gave minutes ago. If you woul d look at the Statement, it makes it very clear that the services to be provided under a restricted banking licence will be restricted to the companies that will be set out in Schedule 3. And the intent in the first instance is to establish those to be FinTech companies, Mr. Speaker. I would like to make sure that I reiterate that, despite the number of questions which are coming from the Opposition on this issue, Bermuda Bankers’ Association were briefed on these proposals and are in support of these proposals, because they recognise that this is an innovative and elegant solution to a problem, which will advance economic growth in Ber-muda. 2588 29 June 2018 Official Hansard Report
Bermuda House of Assembly An Hon. Member: Innovation at its best. Innovation at its best.
Mr. N. H. Cole SimonsMr. Speaker, he has not answered my question. Mr. Speaker, once the restricted licence has been issued —I will repeat the question— will that licence allow that bank to provide a full suite of services to their restricted clients?
The SpeakerThe SpeakerMr. Premier. Hon. E. David Burt: Yes.
The SpeakerThe SpeakerAny further bankers want to speak? [Laughter]
The SpeakerThe SpeakerNo further bankers would like to speak? [Inaudible interjections and laughter ]
Mrs. Patricia J. Gordon -PamplinWe have got two chickens. We’ve got two chickens! [Inaudible interjection, uproarious laughter and desk thumping]
The SpeakerThe SpeakerMr. Premier, I think that brings to a close to the questions for your Statement. Members, Members! Members! Members! There is a Member who would like to put a question to one of the Ministers regarding the further Statements this morning. And that is to the Minister of Works. The …
Mr. Premier, I think that brings to a close to the questions for your Statement. Members, Members! Members! Members! There is a Member who would like to put a question to one of the Ministers regarding the further Statements this morning. And that is to the Minister of Works. The Member from constituency 23, Honour able Member Gordon- Pamplin, you can put your question now.
Mrs. Patricia J. Gor don-PamplinThank you, Mr. Speaker. Good morning to the Minister.
The SpeakerThe SpeakerGo right ahead. QUESTION 1: WASTE MANAGEMENT
Mrs. Patricia J. Gordon -PamplinMr. Speaker, I just would like, for the public’s edification, a little clarific ation. On page 1 of the Minister’s Statement, he ind icates that he has asked the plant manager to explore with the operator the feasibility of extending the hours to make it convenient for the public. On …
Mr. Speaker, I just would like, for the public’s edification, a little clarific ation. On page 1 of the Minister’s Statement, he ind icates that he has asked the plant manager to explore with the operator the feasibility of extending the hours to make it convenient for the public. On page 3 of his Statement, the Minister indicated that they have agree d the adjustment with the service provider. I wonder if the Minister, for the edification of the public, could explain what the new hours are, what the extended hours are, so that the public would know what the additional operating time is for Sundays. Thank you.
The SpeakerThe SpeakerThank you, Member. Minister.
Lt. Col. Hon. David A. BurchMr. Speaker, I deliberately left that out of the Statement because I am not prepared to do that at this time. What I said was that the operator has agreed to extend the hours. I believe it involves the recruiting of additional staff. And so, we are in discussions. But …
Mr. Speaker, I deliberately left that out of the Statement because I am not prepared to do that at this time. What I said was that the operator has agreed to extend the hours. I believe it involves the recruiting of additional staff. And so, we are in discussions. But he has agreed to extend the hours. We have slightly more than a month before it comes into effect. And so, we will have plenty of time to alert the public as to what the new hours are.
The SpeakerThe SpeakerThank you. Supplementary? No supplementary? That is good. No further questions. That brings us to the end of Question Period. We will move on to the other Orders of the Day. CONGRATULATORY AND/OR OBITUARY SPEECHES
The SpeakerThe SpeakerDoes any Member wish to speak? Premier, are you on your feet? Yes, we recognise the Premier. Hon. E. David Burt: Thank you, Mr. Speaker. Mr. Speaker, I rise this morning on a sad note to ask the House to send condolences to the fam ily and friends of a …
Does any Member wish to speak? Premier, are you on your feet? Yes, we recognise the Premier.
Hon. E. David Burt: Thank you, Mr. Speaker. Mr. Speaker, I rise this morning on a sad note to ask the House to send condolences to the fam ily and friends of a constituent of mine, who passed away this week, Mr. Ronald Lightbourne. And I will assoc iate the entire House, Mr. Speaker.
The SpeakerThe SpeakerAssociate the whole House. Yes. Hon. E. David Burt: Mr. Speaker, Mr. Lightbourne was a renowned musician and author and educator, and has been, without question, instrumental in the arts scene in Bermuda. Of course, being a constituent of mine, he actually got to know my wife, as well, when …
Associate the whole House. Yes.
Hon. E. David Burt: Mr. Speaker, Mr. Lightbourne was a renowned musician and author and educator, and has been, without question, instrumental in the arts scene in Bermuda. Of course, being a constituent of mine, he actually got to know my wife, as well, when my wife first moved here, as he was also i nvolved in the Wes t Indian Association, as was my wife. And, of course, I know his family, his wife, (though she was not on the Island), who lectured at the Bermuda College, and his wider, I would say, local network. Without question, it was incredibly sad, i ncredibly shock ing news to hear. And I sincerely hope that we can extend our condolences to all of (I would say) the lives that Mr. Lightbourne has touched over his career of service in Bermuda, particularly here, Mr. Speaker. What I would also like to say on that parti cular note, Mr. Speaker, is that I would also like to go to a matter of congratulations.
Bermuda House of Assembly The Speaker: Continue on.
Hon. E. David Burt: And the matter of congratul ations is that we know that there are a number of st udents who are celebrating their graduat ions. And I am sure that a number of persons will get up to speak to those who are graduating. And, of course, a number of Members are missing, Mr. Speaker, this morning, as they are attending the graduation of the CedarBridge Academy. I was fortunate enough to attend the graduation services of Berkeley Institute, yesterday. And I think what was . . . I did not get to stay for the entire service, but I did get to hear two particularly touching speeches. The first was from the Valedictorian, Mr. Jay-Quan Di ll, who, I thought, gave an excellent speech and, of course, is an excellent student, who was given a Bermuda Government scholarship, and an excellent mathematician. So, I look forward to his future success. And the other, Mr. Speaker, was a very touc hing keynote address from a Berkeley alum ni, Ms. Lill ian Lightbourn, who gave a very passionate speech on the fact and the experience of which she has had as trying to be a high fashion model, as a black female, and the number of persons who told her, No, she couldn’t do it. And she refused to let those who told her no to put her in a box. And now she has managed to succeed past all of those people, even her modelling agencies and representatives who told her, No, she could not do it. It was an excellent message of inspiration. I would just like to pass on the congratul ations of all of us to that, Mr. Speaker. The final matter which I would like to raise is a matter of congratulations, Mr. Speaker.
[Timer beeps]
Hon. E. David Burt: I will save that for next week.
The SpeakerThe SpeakerFor next week. Thank you. Does any other Member wish to speak? We recognise the Honourable Leader of the Opposition. Honourable Member, you have the floor. Hon. Jeanne J. Atherden: Thank you, Mr. Speaker. I, too, would like to be associated with the remarks in terms of congratulating all of …
For next week. Thank you. Does any other Member wish to speak? We recognise the Honourable Leader of the Opposition. Honourable Member, you have the floor. Hon. Jeanne J. Atherden: Thank you, Mr. Speaker. I, too, would like to be associated with the remarks in terms of congratulating all of the Berkeley graduates. I must admit, as a Berkeley alumni, Green House, of course—
The SpeakerThe SpeakerYes. The only house, the only house. Hon. Jeanne J. Atherden: I think, sitting there, you just are aware of, one, how many things our students are doing with respect to gaining, you know, dual en-rolment, going off to university. And I must admit I am not a sensitive, weepy …
Yes. The only house, the only house.
Hon. Jeanne J. Atherden: I think, sitting there, you just are aware of, one, how many things our students are doing with respect to gaining, you know, dual en-rolment, going off to university. And I must admit I am not a sensitive, weepy person, but it did bring tears to my eyes when you s uddenly realise all of the individu-als who are going through there and all of the things they have done. So, congratulations to the Berkeley students. With respect to the sad part, I would like to be associated with the remarks with respect to the family of Ronald Lightbourne. I knew Ronald not so much from the West Indian Association, but with the fact that he had this relationship with people who wanted to go to Cuba. And so, if you were interested in going to Cuba, Ronald facilitated your getting there, especially at a time when the US was not allowing its cit izens to go directly. But more importantly, with respect to two sad things, in today’s paper I got the message from the family of Gary Mello, whom some of you will know as “Mr. Sw eet Life.” But I knew Gary also because my husband and he had been fellow employees at the Sonesta Hotel. And Gary was one of those people who did so many things in the community, and he was very much appreciated by them. And, going down, some of you might not know, but i n an earlier life I spent a lot of time down in St. George’s. And I wanted to have condolences sent to the family of the late Neville “Chop- Chop” Swai nson. Now, when I grew up in St. George’s, Neville was the person who worked at my dad’s packing and crating company, and was an individual whom you saw all the time. You know that he was a very diligent indivi dual. And I never thought about it, but I am sure that is how come he got his “Chop- Chop” [nickname], in my opinion. But I must admit I was saddened, because you keep forgetting that all of these people whom you knew when you grew up are getting older, and so are we. And I just wanted to have condolences sent to these various family members. Thank you, Mr. Speaker.
The SpeakerThe SpeakerThank you, Honourable Member. I recognise the Minister Burch.
The SpeakerThe SpeakerMinister Burch, you have the floor.
Lt. Col. Hon. David A. BurchI would like to be associated with the congratulations that I know ar e coming from the MP for [constituency] 2 in relation to the 12 th Annual Dame Jennifer Smith Future Leader Awards, which I attended on . . . Constituency 1? Okay, [constituency] 1 then, whatever. St. George’s, …
The SpeakerThe SpeakerThey are still going to do this.
Lt. Col. Hon. David A. BurchIn any case, Mr. Speaker, I will let her cover that. I would also like to extend congratulations to the eight graduates of the Skills Development Pr o2590 29 June 2018 Official Hansard Report Bermuda House of Assembly gramme, which is a joint effort between the Depar tment of Parks …
In any case, Mr. Speaker, I will let her cover that. I would also like to extend congratulations to the eight graduates of the Skills Development Pr o2590 29 June 2018 Official Hansard Report
Bermuda House of Assembly gramme, which is a joint effort between the Depar tment of Parks and the Bermuda Industrial Union, and sponsored by the Bermuda Garden Club, Mr. Speaker. It is an amazing programme where young people actually volunteer to participate in a six -month pr ogramme and get a stipend at the end of each module. And I would really like to, before my time is up, record the names of each one of those graduates, Mr. Speaker, and then speak a little bit about the one, the sole female who participated in the programme. It would be Charles Ebbin, Matthew Gilbert, Kacy Gr eene, Gladwyn Johns ton, Leric Lightbour n, Ricardo Tucker , and Troy Watson. And Shalae Johnston is the young lady. Mr. Speaker, she is a multi - talented young lady. Not only is she an accomplished artist, who had her first art exhibition at Masterworks Found ation last month, but she is also an accomplished author and musician who wrote a rap song, which I think even the Deputy Speaker who was present, Dame Jennifer, who was present, and I and some others were tapping our feet to this rap song that highlighted the Skills Development Programme.
The SpeakerThe SpeakerI thought you were going to recite a little bit of it. [Laughter]
Lt. Col. Hon. David A. BurchNo, no. That is not my forte, Mr. Speaker. I know where my driveway is, and I stay in my lane. [Laughter]
Lt. Col. Hon. David A. BurchWhat I would also like to say, Mr. Speaker, is that the Garden Club of Ber-muda is sponsoring four students to go to the United Kingdom next month, accompanied by Roger Parris, one of the instructors, to have a training sess ion at the Bournemouth Gardens in the UK and …
What I would also like to say, Mr. Speaker, is that the Garden Club of Ber-muda is sponsoring four students to go to the United Kingdom next month, accompanied by Roger Parris, one of the instructors, to have a training sess ion at the Bournemouth Gardens in the UK and participate in an event there, as well as to have three weeks’ worth of instruction. I would also like to acknowledge, Mr. Speaker, the contribution of Roger Parris and Sam Santucci, employees of the Department of Parks —
The SpeakerThe SpeakerAh. Outstanding. Outstanding.
Lt. Col. Hon. David A. BurchAnd not only are they teaching them landscaping skills, but they are al so teaching them life skills.
Lt. Col. Hon. David A. BurchAnd there really is a relationship that they have established with some of our young people who have not had a relationship with any adult in their entire life. And it really i s heart - warming to see the success and progress of this pr ogramme, which I have …
And there really is a relationship that they have established with some of our young people who have not had a relationship with any adult in their entire life. And it really i s heart - warming to see the success and progress of this pr ogramme, which I have to acknowledge we inherited from the former Government and have enhanced upon. So, kudos go to both. Thank you, Mr. Speaker.
The SpeakerThe SpeakerThank you, Minister. I recognise the Honourable Deputy Premier. You have the floor, Honourable Member. Hon. Walter H. Roban: Thank you very much, Mr. Speaker. I would like to, first, be associated with the condolences passed onto the family of Mr. Ron Lightbourne. Mr. Lightbourne was a teacher of mine. …
Thank you, Minister. I recognise the Honourable Deputy Premier. You have the floor, Honourable Member.
Hon. Walter H. Roban: Thank you very much, Mr. Speaker. I would like to, first, be associated with the condolences passed onto the family of Mr. Ron Lightbourne. Mr. Lightbourne was a teacher of mine. And I considered him to be a quite gifted writer, musician , and man of letters, as I remember him introducing me as a student to different types of poetry. But there is perhaps a little part of his history that many do not know. He was one of the original young persons who was a PLP youth wing member in his younger days , and [this was] something that was publicised in local publications, his interest in politics. So he was, in the 1960s, perhaps, I think, he may have been the first youth wing member of the Progressive Labour Party. So he had an association with the PLP that goes back some years and particularly as a young man. I would like to also be associated with the comments from the Premier about the Berkeley grad-uation. There i s one thing I have to acknowledge, as I did not attend the Berkeley Institute.
An Hon. Member An Hon. MemberAww! [Laughter] Hon. Walter H. Roban: But there is one thing that I have to acknowledge. I went to the Churchill School (Robert Crawford School), as did the Deputy Speaker. I went to a not -too-bad school, as well.
The SpeakerThe SpeakerYou are in good company then, eh, Deputy? [Inaudible interjections] Hon. Walter H. Roban: But I would like to give credit where credit is due. Berkeley has been around for 120 years. And that is because they retain the very passionate and solid support of their graduates and the families …
You are in good company then, eh, Deputy?
[Inaudible interjections]
Hon. Walter H. Roban: But I would like to give credit where credit is due. Berkeley has been around for 120 years. And that is because they retain the very passionate and solid support of their graduates and the families who have been part of their experience. And you see that at the graduations when you attend. It is like a generational presence of former students who are teachers, students who are parents of students and the like. I think it is an admirable quality. And,
Bermuda House of Assembly hopefully, as a school that has made a contribution to this country, that will continue. The other thing I would like to bring to this House is jus t to mention condolences for the families who lost a couple of persons on our roads in the last couple of days. Condolences to the families and their friends and loved ones. And it just [highlights] the need for us to get a handle on the situation that is on our roads, going forward. I would like to also be associated with the comments by Colonel Burch about the graduation. I was not able to attend. But it is an activity that I fully support. And the vision of Mr. Parris and Mr. Santucci must be credited as a programme that is transforming lives. And any programme that transforms lives aids this community. So, hats off to another successful process that is able to bring Bermudians through to give them hope and more empowerment in their lives. I think that i s a wonderful thing. The last thing I would like to do is to —
[Timer beeps ]
The SpeakerThe SpeakerThank you, Deputy. Hon. Walter H. Roban: I will wait for next week to do it.
The SpeakerThe SpeakerThank you. I now recognise the Deputy Speaker. Deputy Speaker, you hav e the floor. Hon. Derrick V. Burgess, Sr.: Thank you, Mr. Speaker. Mr. Speaker, I would just like to carry on where the Colonel Burch left off. This programme, the Skills Development Programme, was not inherited from the …
Thank you. I now recognise the Deputy Speaker. Deputy Speaker, you hav e the floor. Hon. Derrick V. Burgess, Sr.: Thank you, Mr. Speaker. Mr. Speaker, I would just like to carry on where the Colonel Burch left off. This programme, the Skills Development Programme, was not inherited from the former Government. This has been going on for some time. But, Mr. Speaker, I got up to really congrat ulate Roger Parris and Sam Santucci.
The SpeakerThe SpeakerMm-hmm. Hon. Derrick V. Burgess, Sr.: These two individuals go beyond the call of duty.
The SpeakerThe SpeakerVery much so. Hon. Derrick V. Burgess, Sr.: Not only from Monday to Friday, but from Monday to Sunday, and sometimes past the five o’clock time. Because, as Roger said, some of those folks forget there is a Saturday and Sunday which they do not normally work. But he has …
Very much so.
Hon. Derrick V. Burgess, Sr.: Not only from Monday to Friday, but from Monday to Sunday, and sometimes past the five o’clock time. Because, as Roger said, some of those folks forget there is a Saturday and Sunday which they do not normally work. But he has got one fellow who calls him at six o’clock in the mor ning Saturday, What are we doing today? But, Mr. Speaker, these two fellows, Roger Parris and Sam Santucci, I think they need an award, award from . . . and I certainly will be one of those who will put it for-ward to get an award from one of my relatives overseas.
[Laughter]
Hon. Derrick V. Burgess, Sr.: Because if they can award and give a Q ueen’s Award to someone who made a lot of money up at Dockyard, then I am sure we can get an award for these two fellows who really go about and try to help our young folks. And I certai nly can congratulate them more, because I tell you — they do some stuff there that, as I said earlier, goes beyond the call of duty. Thank you, Mr. Speaker.
The SpeakerThe SpeakerThank you, Deputy. Does any other Member? I recognise the Honourable Member, Mr. S imons. Mr. Simons, you have the floor.
Mr. N. H. Cole SimonsThank you, Mr. Speaker. Mr. Speaker, I would like to associate myself with the comments made in regard to the Parks trai ning programme and Mr. Parris and Mr. Santucci. Mi nister Burch and the Deputy Speaker made positive remarks. I share all of their remarks and agr ee that …
Thank you, Mr. Speaker. Mr. Speaker, I would like to associate myself with the comments made in regard to the Parks trai ning programme and Mr. Parris and Mr. Santucci. Mi nister Burch and the Deputy Speaker made positive remarks. I share all of their remarks and agr ee that they need some type of recognition for a job well done, and for their commitment to service and deve loping young people. Mr. Speaker, I would like to send congratul ations to the staff and students at Sandys Middle School. They had their graduation on Wednesday. And, Mr. Speaker, it was very moving. And those young people are doing great, great things. They are involved in community hours. There is excellence in academics, there is excellence in fellowship, there is excellence in music and sports. T o say that the middle schools are not doing a good job does a disservice to these young people and the teachers. This is an inst itution that is achieving great things and should be here forever, Mr. Speaker. Mr. Speaker, I would like to also associate myself in regard to the comments made for the Berk eley graduates. Again, a very moving ceremony. It was nice to see that 52 of their graduates were going overseas to institutions; 31 were going to Bermuda College. And it is a testament to the quality of servi ce. In fact, one of the graduates was George Frost. And I mention him for two reasons. George Frost was a graduate of Berkeley yesterday. And on Wednesday, he spoke at his alma mater at Sandys Middle School, as their guest speaker. As I said, he is an alum nus. So it is interesting to see how the young people are getting involved in education and are aware of the contributions that they have to make. In fact, I was sitting by Mr. Frost’s parents. And the mother said to me, Mr. Simons, my daughter couldn’t get into Berk eley, but I would like for her to go to Berkeley, since my son had such a great experience. And I think that she 2592 29 June 2018 Official Hansard Report
Bermuda House of Assembly should go there, too. I said, Well, send me an email. I’ll see what I can do. I can’t make any promises —
[Inaudible interjection]
[Laughter]
Mr. N. H. Cole SimonsBut, Mr. Speaker, it just speaks to how parents feel about these schools , and the experiences that their children go through while in school. I would like to also recognise Mr. Hewitt Ta ylor. He was the Teacher of the Year. Mr. Speaker, when his name was called at …
But, Mr. Speaker, it just speaks to how parents feel about these schools , and the experiences that their children go through while in school. I would like to also recognise Mr. Hewitt Ta ylor. He was the Teacher of the Year. Mr. Speaker, when his name was called at the Berkeley graduation, the applause was thundering. The students went cr azy. They went crazy. I mean—
[Timer beeps ]
The SpeakerThe SpeakerThank you, Honourable Member. You can save the rest for next week.
Mr. W. Lawrence ScottSpeaking of teachers, I would just like this House to recognise that today would have been the 79th birthday of an educator, a leader, a community icon, a member of this community who m we named our most lucrative asset after, which is the L. Frederick Wade Airport. Today would …
Speaking of teachers, I would just like this House to recognise that today would have been the 79th birthday of an educator, a leader, a community icon, a member of this community who m we named our most lucrative asset after, which is the L. Frederick Wade Airport. Today would have been L. Frederick Wade’ s 79th birthday. And I would like to associate the Deputy Leader of the coun-try, the Honourable Walt er Roban— well, the whole House—to that. He was actually a classmate of my father’s and was very frequent in the house while I was gro wing up. So, I feel as though I, too, have a connection, maybe not in the professional sense, but in the per-sonal sense of that. And the fact that I felt privileged to be able to work in an environment, in an office, I would say, being the airport that was named after the gentleman. So, therefore, I think that we should take the time out just to recognise his contribution, just to rec-ognise his legacy and that his family, let his family know that he may be gone, but he definitely is not forgotten.
The SpeakerThe SpeakerThank you, Honour able Member. I now recognise the Honourable Member Simmons. Honourable Member Simmons, you have the floor. Mr. Scott Simmons: Thank you, Mr. Speaker, and good morning. I rise in this Honourable House . . . it would be remiss of me if I did not make ment …
Thank you, Honour able Member. I now recognise the Honourable Member Simmons. Honourable Member Simmons, you have the floor. Mr. Scott Simmons: Thank you, Mr. Speaker, and good morning. I rise in this Honourable House . . . it would be remiss of me if I did not make ment ion that I wish to be associated, and that is to mention those in our Parks Department . As Chairman of the Bermuda N ational Parks, it is a pleasure for me to stand today and to congratulate those who graduated with the class of the Skills Development Programme. It was an abs olutely fantastic opportunity for them, and they did an excellent job. And so, we are very proud of them. And, Mr. Speaker, it speaks to the sacrifice that our civil servants make every single day for the benefit of this country. So, the recognition given to Mr. Roger Parris and to Mr. Santucci is well deserved and should be recognised in this Honourable House. Mr. Speaker, I also rise today to be associated completely with [condolences to the fam ily of] Mr. Ronald Lightbourne. And as a footnote, as it relates to the Berm uda Parks Department, Mr. Speaker, throughout this country, every single day and every single month, every single year, not only do the civil servants do the job that they have to do, but they are also joined by memb ers of the public who give of their time for the boards, give up their time to the councils and who put the effort in. So, I wish for us to recognise the contr ibution made by so many in Bermuda to support —that being of me having my first meeting of the Wat er Safety Council that will happen on the 26 th. And the time that they have put in in that particular council, I appreciate, but also those throughout this Island who have sacrificed, who put in their time for very little recognition, but who keep our country running and who work every single day for the betterment of this good country known as Bermuda. Thank you, Mr. Speaker.
The SpeakerThe SpeakerThank you, Member. I now recognise the Honourable Member, Mr. Tyrrell. Mr. Tyrrell, you have the floor.
Mr. Neville S. TyrrellThank you to my colleagues; good morning to my colleagues as well. Mr. Speaker, of the many graduation exerci ses, ceremonies, the passin g-out or passing- up, I had the privilege of attending the Whitney Institute Middle School ceremony, which — [Inaudible interjection]
An Hon. Member An Hon. MemberAnother middle school! Bermuda House of Assembly Mr. Neville S. Tyrrell: Yes, exactly. I heard that. Firstly, I would like congratulations to be sent to the Principal, Ms. Reeshemah Swan, for what I would call a family -friendly production ceremony, where it was entertaining to everyone, I think, who attended, …
Another middle school!
Bermuda House of Assembly Mr. Neville S. Tyrrell: Yes, exactly. I heard that. Firstly, I would like congratulations to be sent to the Principal, Ms. Reeshemah Swan, for what I would call a family -friendly production ceremony, where it was entertaining to everyone, I think, who attended, and [congratulations to] the rest of her colleagues who work with her. Mr. Speaker, I would also like to mention, and I am going to declare my interest in the first instance, because I had to attend. My granddaughter was one of the top students getting Principal’s Honours. But I would also like to mention the son of Senator Anthony Richardson, Kallan Richardson. So, Camryn Tyrell and Kallan Richardson were two of our proud grad uates there, and I wish them well going on to high school. Mr. Speaker, on another note, my wife and I had the privilege, earlier, a week ago, of entertaining some overseas guests who have visited me regularly over about the last 15 years. But when they came this time, they were obviously asked the question that they could not answer, which was, What is the address of where you are staying? And they said, Oh, I don’t know. I know the Tyrrells’ post box, but . . . and right away, they were dragged off to some other room and were then entertained by one of the Immigration offi cers, who I think was very, very helpful. A nd I would certainly like congratulations to be sent to him, and it is Mr. Gavin Lee, because he made their introduction very, very smooth. He could have, obviously, made it a little more difficult for them. But he certainly guided them through whatever it is that they had to do. So, I appreciate his helpfulness on that day. Thank you very much, Mr. Speaker.
The SpeakerThe SpeakerThank you, Honourable Member. I now recognise the Honourable Member from constituency 1. How are you today, Honourable Member?
Mrs. Re nee MingGood morning, Mr. Speaker and listening audience. How are you doing today?
Mrs. Renee MingGood. I would first of all like to begin my comments on a sad note. And that would be for condolences to be sent to the family of Neville “Chop- Chop” Swai nson. (I know it was already done. But he is one of my constituents. ) I would also …
Good. I would first of all like to begin my comments on a sad note. And that would be for condolences to be sent to the family of Neville “Chop- Chop” Swai nson. (I know it was already done. But he is one of my constituents. ) I would also associate MP Patricia Gordon-Pamplin. I just want the family to know that they are in our thoughts and prayers, because I do know his children, Rochelle and the others, and the grandchildren, as well. So, I just want them to know that they are in our thoughts and prayers at this t ime. Mr. Speaker, on a happier note, I would like to acknowledge the fact that we held our Dame Jennifer Smith Future Leader awards this week. This is our 12 th annual ceremony. And we had some awesome kids out there who are doing some awesome things. And I just want to acknowledge them today. So, from St. David’s, we had Zory Swan and Christia Lugo Al ebox; from Clearwater Middle School, we had A. J. Smith and Ruth Mello- Cann; from St. George’s Pr eparatory School, we had Marley Dill, Liam Davis; and from Ea st End Primary, we had Savannah Walker and Joaquin O’Connor . Mr. Speaker, sometimes it is so easy to find negative things to say about our kids. But these are kids who are doing some awesome things at an early age. They are showing that they are leaders in their own right. One of them is actually an entrepreneur. She is selling her slime at this time. They all had many, many hours of community serv ice. Some of them were academic; some of them were athletic. So it just warmed my heart. I said it just like that, and I will continue to say it each year that we are able to hold that event that our kids are doing— our children are doing some awesome things. I would like to thank our guest speaker, who interacted very well, and that was Jari Ming. And also, for Dame Jennifer Smith, because every year she makes sure that, ev en though she may not be on the active political scale, she does come out to this event. And she makes sure that she provides her remarks and continues to encourage our children. I would also like, while I have a few minutes, to congratulate all of the graduates from all of the schools. And that is across the primary, middle, Be rmuda College and everywhere, because there are a lot of graduations going on, and that is just positive reinforcement. And that will be it for me, Mr. Speaker. Thank you.
The SpeakerThe SpeakerThank you, Honourable Member. I now recognise the Honourable Minister. Minister Weeks, you have the floor. Hon. Michael A. Weeks: Thank you, Mr. Speaker, and good morning to you.
The SpeakerThe SpeakerGood morning. Hon. Michael A. Weeks: Mr. Speaker, I would like to start my remarks off by wanting to be associated with the remarks about Ronald Lightbourne. Those of us who went to Berkeley probably had the privilege, like myself, to be taught music from Mr. Lightbourne. He actually taught …
Good morning.
Hon. Michael A. Weeks: Mr. Speaker, I would like to start my remarks off by wanting to be associated with the remarks about Ronald Lightbourne. Those of us who went to Berkeley probably had the privilege, like myself, to be taught music from Mr. Lightbourne. He actually taught me how to play the saxophone, Mr. Speaker. I am not as handy as I could have been, but he gave me the groundwork in playing the saxophone. So, I definitely wanted to be associated with those remarks because also, as I grew to be older, rather than the relationship of teacher /student, we became friends. So, he will definitely be sorely, sorely missed, Mr. Speaker. 2594 29 June 2018 Official Hansard Report
Bermuda House of Assembly Mr. Speaker, I would like to go to some pos itive remarks.
The SpeakerThe SpeakerYes. Hon. Michael A. Weeks: I would like to be associated with the remarks by the Honourabl e Member from constituency 1, sending out congrats to all of the st udents throughout the Island who were graduates these last few weeks. But, in particular, Mr. Speaker, I had the distinct …
Yes. Hon. Michael A. Weeks: I would like to be associated with the remarks by the Honourabl e Member from constituency 1, sending out congrats to all of the st udents throughout the Island who were graduates these last few weeks. But, in particular, Mr. Speaker, I had the distinct privilege to be at Victor Scott Primary School on Tuesday to witnes s and participate in their graduation. And of note, Mr. Speaker, I would like to acknowledge Senator Jason Hayward, whose two sons graduated. If I do not get their names right here, straighten me out —Jabari and Jabri. He has a set of twins who graduated fr om Victor Scott on Tuesday. I know he is proud, and I just want to make special mention of that. Mr. Speaker, also, I would like to be associated with the remarks of the Skills Development Pr ogramme. I was there with the Honourable Ministers and the Deput y Speaker, witnessing that graduation which made us all proud. We all have family or friends who took part in that graduation. Mr. Speaker, before my time runs out, if it has not been said already, I want congrats to be sent out to Mr. Ottiwell Simmons. “ Ottie,” as he is so fondly known, affectionately known by many of us, had his 85 th birthday on Monday.
[Desk thumping] Hon. Michael A. Weeks: So, I would like to associate the whole House, because Brother Ottie is still going strong, still looking young as ever. And we know that he, if anybody, is going to be a National Hero at some time. Brother Ottie is one who definitely deserves that, you know? And also, Mr. Speaker, I think, if I am not mi staken, that Sister Barbara Ball’s birthday was last week. So, she too was a stalwart of our civil rights and union struggles. So I would like to acknowledge her birthday. I cannot recall how old she would have been, but it was her birthday. Thank you very much, Mr. Speaker.
The SpeakerThe SpeakerThank you, Honourable Mem ber. We now recognise the Honourable Member, Mr. Commissiong. Honourable Member, you have the floor.
Mr. Rolfe CommissiongMr. Speaker, I note the comments by the previous speaker with respect to the former Member of this Chamber, Mr. Ottiwell Si mmons. And he talked about his being at the forefront and a leader in the civil rights movement and, of course, the political movement and for the rights …
Mr. Speaker, I note the comments by the previous speaker with respect to the former Member of this Chamber, Mr. Ottiwell Si mmons. And he talked about his being at the forefront and a leader in the civil rights movement and, of course, the political movement and for the rights of labour. And the person whom I wish . . . and I have been somewhat remiss. Let me say this, because this lady passed away some time ago. But she, too, was a foot soldier for the labour and political movements in the PLP that emerged in the 1960s and 1970s. Her name is Merice Eleanor Philpott. She is a doyenne of that community that comprises Curving Avenue and Fentons Drive and Rambling Lane. She leaves her four daughters, and she only had daughters, the four of them. They are Deborah, Doreen, Durroni, and Darlene Philpott. And her presence is going to be sorely missed as one of the key matriarchs of that community. And I associate . . . I am going to allow the Member, the Deputy Leader, to be associated with those comments. She was a great woman in our community, and she is sorely missed. Mr. Speaker, just moving on very quickly, I a lso wish to associate, as not ed, with the comments regarding Mr. Neville “Chop- Chop” Swainson. Mr. Swainson, and the Swainson family in general, has always been associated with my family, going back for decades. And I always found him a very amiable and kindly gentleman, and the operative word being “ gentleman. ” He is the type of man whom you could env ision would have no enemies during his lifetime. And he was a well -known taxi driver for decades. Again, he is going to be sorely missed, as well. Finally, to a friend of mine. The Premier, of course, made the quite deserved comments concer ning Mr. Ron Lightbourne, and others, and I wish to associate with those, as well. Ron Lightbourne, to me, Mr. Speaker, was a Renaissance man, in some ways a quintessential Renaissance man. It came to music and art and letters. There were few of his generation who shone even brighter than him. And he is, again, another one whom for the country, particularly with respect to culture, is going to be poorer for his a bsence. Ron Lightbourne, of course we know, leaves his wife, who is of Cuban origin. And I hope all the best for her, moving forward. He was a great friend of Cuba, repeatedly travelled there, got immersed in the culture, of course. And our Renaissance man, Mr. Lightbourne, we are all going to miss you, Ron, and Godspeed. Thank you, Mr. Speaker.
The SpeakerThe SpeakerThank you, Honourable Member. I now recognise the Honourable Member from St. George’s. The Honourable Member Swan, you have the floor.
Mr. Hubert (Kim) E. SwanYes, good morning, Mr. Speaker. Mr. Speaker, I would like to be associated with the condolences to the families of Mr. Ronald Lightbourne and Mr. Neville “Chop- Chop” Swainson, both gentlemen I actually knew and respected greatly. I would like a letter of condolences sent to the family of the …
Yes, good morning, Mr. Speaker. Mr. Speaker, I would like to be associated with the condolences to the families of Mr. Ronald Lightbourne and Mr. Neville “Chop- Chop” Swainson, both gentlemen I actually knew and respected greatly. I would like a letter of condolences sent to the family of the late Mrs. Alice Bean, from Scaur. And I know the Honourable Member, Mr. Simmons, I am
Bermuda House of Assembly sure would like to be associated with that, as well, and yourself, Mr. Speaker.
Mr. Hubert (Kim) E. SwanI grew up in and around the Bean family in Scaur and the greater White Hill community, Death Valley, as well. And it is a wonderful family. Mrs. Bean was a darling lady, and her fam ily I think of very fondly. I would like, Mr. Speaker, a letter of …
I grew up in and around the Bean family in Scaur and the greater White Hill community, Death Valley, as well. And it is a wonderful family. Mrs. Bean was a darling lady, and her fam ily I think of very fondly. I would like, Mr. Speaker, a letter of congr atulations extended to young Oliv er Bouchard, nine years old, one of my charges who competed overseas on two occasions in the last month and has shown tr emendous potential and maturity. Young Kenny Leseur, Jr., 13- year-old who finished, tied 38 in the F uture Masters in his second attempt in the 13- to 14 - age group, out of 120 competitors. He certainly played well enough, in my estimation, to have finished in the top 10, and learning experiences from there, but ma king tremendous strides, this young man. Youn g Daniel Augustus, who won the Bermuda PGA Championship; also, Mr. Reggie Lambe extending his contract in football, moving on to a football association team of Cambridge. And also, Mr. Speaker, on behalf of one of my constituents, Ms. Dawn Burgess, from W ellington Back Road, and her colleagues at Bermuda Broadcasting, who would like Mr. Kelly Zuill, who had 55 years on the radio, acknowledged and appreciated. And all of us know he is an iconic figure in broadcas ting, particularly in the gospel era, has com e into many of our homes consistently over that period. Many of us have grown up to the music of Mr. Kelly Zuill and the message that he has brought to us. Thank you, Mr. Speaker.
The SpeakerThe SpeakerThank you, Honourable Member. Does any other Honourable Member wish to speak? I recognise the Honourable Member from constituency 23. You have the floor, Honourable Member.
Mrs. Patricia J. Gordon -PamplinThank you, Mr. Speaker. Mr. Speaker, albeit we associated the entire House on the passing of and condolences to the fam ily of Ron Lightbourne, I think it would be remiss of me if I did not specially say, myself, that this is an indivi dual whose music talents had …
Thank you, Mr. Speaker. Mr. Speaker, albeit we associated the entire House on the passing of and condolences to the fam ily of Ron Lightbourne, I think it would be remiss of me if I did not specially say, myself, that this is an indivi dual whose music talents had touched me. He was an active member of the Chewstick community and par-ticipated in many of their publ ic events that they had. So, I had the benefit of being able to listen to him on occasions other than the general kind of exposure that we would have had. So, I certainly was not just shocked, but certainly saddened to hear of his pas sing. Mr. Speaker, on a positive note, I would ask that this Honourable House join me in congratulating one of our colleagues, the Honourable Member from constituency 8, the Honourable Member Cole Simons, who hit a family milestone earlier in the week, or last week Friday, as we were sitting here, last week Fr iday, when—
The SpeakerThe SpeakerHe forgot his anniversary. [Inaudible interjections and laughter]
Mrs. Patricia J. Gordon -PamplinHis daughter and son-in-law gave birth to, or his daughter gave birth to his first grandson.
Mrs. Patricia J. Gordon -PamplinEli Nelson Gabriel Stubble.
The SpeakerThe SpeakerCongratulations. [Desk thumping]
Mrs. Patricia J. Gordon -PamplinSo, I think when you get to the point of grandpa- hood, I think it deserves a very special congratulations, Mr. Speaker. And I would ask that the House join me in congratulating my honourable colleague and his daughter. Thank you.
The SpeakerThe SpeakerWe always join in those congratulations to the Honourable Member. Yes. Mr. Richards, oka y. I thought you were getting up to leave. [Laughter]
The SpeakerThe SpeakerI recognise the Honourable Member Richards. You have the floor. Mr. Sylvan D. Richards, Jr.: Mr. Speaker, sometimes you can be too close to the action.
The SpeakerThe SpeakerToo close; that is right. Mr. Sylvan D. Richards, Jr.: Mr. Speaker, I rise to my feet on a sad note, to offer condolences to the family of a friend of mine, Mr. Navell “Ricky” Darrell, also fondly known as “Beetle,” who, unfortunately, lost his life Wednesday morning in a …
The SpeakerThe SpeakerYes. Mr. Sylvan D. Richards, Jr.: I have known Beetle since I was about 16 years old, from the Ord Road Warwick area. We both are very fond of motorcycles, and it was motorcycles, and at that time Mobylettes, 2596 29 June 2018 Official Hansard Report Bermuda House of Assembly …
Yes.
Mr. Sylvan D. Richards, Jr.: I have known Beetle since I was about 16 years old, from the Ord Road Warwick area. We both are very fond of motorcycles, and it was motorcycles, and at that time Mobylettes, 2596 29 June 2018 Official Hansard Report
Bermuda House of Assembly that brought us together. Beetle was a very kind of quiet guy, but he was very engaging, always had a beautiful smile, a kind word, and he was a veteran member of the Bermuda Motorcycle Racing Club down in Southside. And it is amazing since his pas sing how many Ber mudians whom I know have reached out to talk about our sadness over the loss of Beetle. He touched a lot of lives, and his impact will be felt for many, many years to come. He was 59 years old, my exact age. And I have lost a childhood buddy. And I would j ust encourage people once again . . . our roads are very dangerous. There is no room for error out there. And a lot of times, we just have to just slow down and just exercise better judgment. And I am not saying that was the case with Ricky. But these things are happening over and over and over again, and we really need to pay attention. A lot of lives and a lot of potential are being lost on our roads, needlessly. On a more positive note, Mr. Speaker, and I do not know if this was covered last week. But I attended the graduation of Impact [Mentoring] Acad emy, which is headed by the Headmaster, Mr. Chris Crumpler, whom I am sure everybody in this House is familiar with. Impact Academy is an all -boys school. And their mission is to raise men of character. My nephew is a student at that school, and he loves it and is thriving. And they do a lot of good things in the community. More recently, they made a trip to the Dominican Republic (the school did), visiting an area that I am very familiar with, a mountain ar ea in the Dominican Republic, Jarabacoa. And they were there for a number of days, doing charity work and assisting in the community there. So, I just want to congratulate everyone i nvolved in Impact Academy. They have a number of volunteers. It is a labour of love. And it became very clear at the graduation ceremony, which was held at the BUEI [Bermuda Underwater Exploration Institute], that it is a very, very close and very loving and very supportive community. So, I just wanted to give them acknowledgement and congratulate them for all of the hard work that they are doing in raising the future generation of men in Bermuda.
The SpeakerThe SpeakerThank you, Member. Does any other Member wish to speak? I recognise the Honourable Member Dunkley. You have the floor . Hon. Michael H. Dunkley: Thank you, Mr. Speaker. Mr. Speaker, I too would like to be associated with the words of condolences by my colleague and the Deputy Premier …
Thank you, Member. Does any other Member wish to speak? I recognise the Honourable Member Dunkley. You have the floor .
Hon. Michael H. Dunkley: Thank you, Mr. Speaker. Mr. Speaker, I too would like to be associated with the words of condolences by my colleague and the Deputy Premier in regard to the road traffic fatal ities of the past couple of days; and in addition, associate myself with the condolences to the Mello family in the passing of Gary, to his wife Patty and to their children Desmond and Selena. Certainly, Gary was one of those people who came across as larger -thanlife. And I still recall in the 1970s and 19 80s, when he was making deliveries throughout the Island, that he would walk around, no matter what time of year it was, with shorts and a button- up shirt on, and no shoes, you know, getting out of the truck, making deliveries. And he always had much to sa y. And so, he will be sadly missed, certainly by his wife and best friend, as he said, and the family and friends. Also, Mr. Speaker, I would like to ask these Honourable Chambers to send condolences to the family of Mr. Raymon “Chic” Moniz, a former cons tituent of mine, who passed away just recently after a bout with illness. I remember the first time I went to Mr. Moniz’s door, and I walked in his house, and I saw a whole pile of Yankee baseball pendants. And it was very clear to me that he was a Yankee fan. So, quite often, our conversations on the doorstep— and he was a big supporter —featured the New York Yankees. And I learned just recently that . . . he has got three children, two daughters and a son. His son is named Roger after the great Roger Maris, the great Yankee. So, I ask that his family be sent a message of cond olences during this time of grieving. I would like to be associated with the congra tulations sent by the Honourable Minister Burch to the Skills Development Programme and the recognitio n that it did start a couple of years ago. Mr. Speaker, while much has been said about it, and I support ev erything that was said, I think it would be remiss if we did not mention the great work that his wife, Melody [Parris] has done because, as Roger Par ris has said, without her, this programme would not move forward. And the messages that they continue to give to the young people they work with . . . they lead by example and set high standards to live your life with integrity. This is a programme, and it is very comforting to see that both sides of the House support this. Finally, Mr. Speaker, I would like this Honourable Chamber to recognise and congratulate the wi nners of the PGA Stroke Play Championships that took place a few days ago, won by Mr. Dani el Augustus. But some great scores were turned in during that championship, which was a 36- hole tournament where in the last round, I believe, winner Daniel A ugustus carded a four under par 66. And the second place participant was Anthony Mocklow, who also carded under par, a round of 68. So, first, second, and third were Mr. Augustus, Mr. Mocklow, and Chaka DeSilva, who is one of the pros of Mid Ocean Club. And congratulations to Judithanne Astwood on wi nning her section, as well. Thank you, Mr. Speaker.
The SpeakerThe SpeakerThank you, Honourable Member. Does any other Honourable Member wish to speak? No other Honourable Member? Bermuda House of Assembly I would just like to, before we move off of condolences, add my words to those that have been expressed to the family of Mr. Lightbourne. I actually was in …
Thank you, Honourable Member. Does any other Honourable Member wish to speak? No other Honourable Member?
Bermuda House of Assembly I would just like to, before we move off of condolences, add my words to those that have been expressed to the family of Mr. Lightbourne. I actually was in the first class that Mr. Lightbourne taught as a fresh face coming back with his teacher’s degree, at Berkeley. And not only did he become an educating mentor to us, but he really became a friend to us. And that has been a li felong friendship that I have had with him since. So, I was shocked, like most of us, when we heard of his passing. We can move on.
MATTERS OF PRIVILEGE
The SpeakerThe SpeakerThere are none. PERSONAL EXPLANATIONS
The SpeakerThe SpeakerThere are none. NOTICE OF MOTION S FOR THE ADJOURNMENT OF THE HOUSE ON MATTERS OF URGENT PUBLIC IMPORTANCE
The SpeakerThe SpeakerThere are none. INTRODUCTION OF BILLS GOVERNMENT BILLS
The SpeakerThe SpeakerWe have four Government Bills to be introduced. The first is in the name of the Honourable Minister of Health, who has indicated her absence today. I believe it is going to be presented by the Mi nister of Home Affairs. Minister. FIRST READING LEGAL AID AMENDMENT ACT 2018 Hon. …
We have four Government Bills to be introduced. The first is in the name of the Honourable Minister of Health, who has indicated her absence today. I believe it is going to be presented by the Mi nister of Home Affairs. Minister.
FIRST READING
LEGAL AID AMENDMENT ACT 2018
Hon. Walton Brown: Yes, Mr. Speaker. I am introducing the following Bil l for its first reading so that it may be placed on the Order Paper for the next day of meeting: Legal Aid Amendment Act 2018.
The SpeakerThe SpeakerThank you. The next item to be introduced is in the name of the Honourable Minister Weeks. Minister. FIRST READING FAMILY MEDIATION ACT 2018 Hon. Michael A. Weeks: Thank you, Mr. Speaker. Mr. Speaker, I am introducing the following Bill for its first reading so that it may be placed …
Thank you. The next item to be introduced is in the name of the Honourable Minister Weeks. Minister.
FIRST READING
FAMILY MEDIATION ACT 2018 Hon. Michael A. Weeks: Thank you, Mr. Speaker. Mr. Speaker, I am introducing the following Bill for its first reading so that it may be placed on the Order Paper for the next day of meeting: Family Mediation Act 2018.
The SpeakerThe SpeakerThank you. The next is in the name of the Honourable Minister Burch. Minister. FIRST READING LAND TITLE REGISTRATION AMENDMENT ACT 2018
Lt. Col. Hon. David A. BurchMr. Speaker, I am i ntroducing the following Bill for its first reading so that it may be placed on the Order Paper for the next day of meeting: the Land Title Registration Amendment Act 2018.
The SpeakerThe SpeakerThank you. And the last is in the name of the Minister of Home Affairs. Mr. Brown. FIRST READING CARE AND PROTECTION OF ANIMALS AMENDMENT ACT 2018 Hon. Walton Brown: Mr. Speaker, I am introducing the following Bill for its first reading so that it may be placed on the …
Thank you. And the last is in the name of the Minister of Home Affairs. Mr. Brown.
FIRST READING
CARE AND PROTECTION OF ANIMALS AMENDMENT ACT 2018 Hon. Walton Brown: Mr. Speaker, I am introducing the following Bill for its first reading so that it may be placed on the Order Paper for the next day of meet-ing: the Care and Protection of Animals Amendment Act 2018.
The Sp eaker: Thank you. No further Bills to be introduced.
ORDERS OF THE DAY
The SpeakerThe SpeakerThe Orders of the Day. We have two orders that will be debated today. The two orders are [Order No.] 1 and [Order No.] 2. [Order No.] 1 is the Internal Audit Amendment Act 2018, the Ministry of Finance. And I think the Ju nior Minister . . . Junior …
The Orders of the Day. We have two orders that will be debated today. The two orders are [Order No.] 1 and [Order No.] 2. [Order No.] 1 is the Internal Audit Amendment Act 2018, the Ministry of Finance. And I think the Ju nior Minister . . . Junior Minister, are you going to lead this?
Hon. Wayne L. Furbert: Yes.
The SpeakerThe SpeakerYou can have the floor. Hon. Wayne L. Furbert: Thank you, Mr. Speaker. I move that the Bill entitled the Internal Audit Amendment Act 2018 be now read the second time.
The SpeakerThe SpeakerContinue. 2598 29 June 2018 Official Hansard Report Bermuda House of Assembly BILL SECOND READING INTERNAL AUDIT AMENDMENT ACT 2018 Hon. Wayne L. Furbert: Mr. Speaker, this is a very simple Bill. You will recall that the principal Act was passed in 2010 as a means to further ensure good …
Continue. 2598 29 June 2018 Official Hansard Report
Bermuda House of Assembly BILL
SECOND READING
INTERNAL AUDIT AMENDMENT ACT 2018
Hon. Wayne L. Furbert: Mr. Speaker, this is a very simple Bill. You will recall that the principal Act was passed in 2010 as a means to further ensure good governance within the public service and provide a structure for the conduct of internal audits within the Government of B ermuda. The Bill before the House today is to amend section 15 of the Internal Audit Act 2010 (the Act) to allow for a permanent secretary to serve as an internal member of the Internal Audit Committee. Mr. Speaker, following the recommendation of the SA GE Commission, the post of assistant secretary to the Cabinet was abolished in 2015. As a result, the Internal Audit Act 2010 shall be amended to reflect this structural change within the Cabinet Office. Mr. Speaker, section 15 of the Act, insofar as it is relevant, currently reads as follows: “15 (1) The Committee shall be composed of — a) the Secretary to the Cabinet as Chairperson; b) the Head of the Civil Service or, where the Secretary to the Cabinet is also the Head of the Civil Service, the Assistant Sec retary to the Cabinet (Deputy Head of the Civil Service); c) the Assistant Secretary to the Cabinet (Committees); and d) two persons of good standing in the accounting or auditing profession (who are not public officers) appointed by the Premier. ” Mr. Speaker, a permanent secretary has been sitting on the Internal Audit Committee since May 2016. And this amendment is required to correct this legislative anomaly. The amendment before the House today proposes the amendment to section 15(1)(c) to replace the current subsection and read, “a Permanent Secretary, appointed by the [Committee] Chairperson.” It is also proposed that section 15(2) of the Act should also be amended to make appointment under new section 15(1)(c) for one year. Mr. Speaker, I now commend this Bill to the House for its consideration.
The SpeakerThe SpeakerThank you, Junior Minister. Does any other Member wish to speak? I recognise the Leader of the Opposition. Honourable Member, you have the floor. Hon. Jeanne J. Atherden: Thank you, Mr. Speaker. Mr. Speaker, I am glad that the Junior Minister said one thing because it clarified something [which concerned …
Thank you, Junior Minister. Does any other Member wish to speak? I recognise the Leader of the Opposition. Honourable Member, you have the floor.
Hon. Jeanne J. Atherden: Thank you, Mr. Speaker. Mr. Speaker, I am glad that the Junior Minister said one thing because it clarified something [which concerned me] that I had with respect to the fact that a permanent secretary had been sitting on this committee. I did not know how long the person had been sitting, because when, of course, I went to look on the committees, the last listing that I found in the Bermuda listing was 2017. So I do not know who is in there right now for 2018 . . . so, maybe the Junior Minister can just confirm that. But I understand the rationale. And I do appreciate the fact that it is tidying up something in what I call housekeeping. The only question that I was curious about was the fact that the Act was changed such that it was said that “ the Permanent Secretary appointed by t he Chairperson, ” so I realise that the Act itself indicates that the Chairperson is going to be, [as of] now, the head of the—the Secretary of the Cabinet. So, I was just wondering why they did not say appointed by the Secretary to the Cabinet rather than the Chairperson. But that was my curiosity as to why they designated a [specific] position rather than a generic position.
The SpeakerThe SpeakerThank you, Member. Any other Members wish to speak? No other Members? Junior Minister. Hon. Wayne L. Furbert: Mr. S peaker, I am just assuming that the chairperson from time to time could change. And so, it is probably clearer to have the chairperson set out the name or the …
The SpeakerThe SpeakerThank you, Honourable Member. Would you like to . . . Hon. Wayne L. Furbert: Mr. Speaker, I move that the Bill be committed.
The SpeakerThe SpeakerThank you. Honourable Deputy. House in Committee at 11:47 am [Hon. Derrick V. Burgess, Sr., Chairman] COMMITTEE ON BILL INTERNAL AUDIT AMENDMENT ACT 2018
The ChairmanChairmanHonourable Members, we are now in Committee of the whole [House] for further consider ation of the Bill entitled the Internal Audit Amendment Act 2018 . Minister, you can continue. Hon. Wayne L. Furbert: Thank you, Mr. Chairman. I move clauses 1 and 2, simple clauses.
The ChairmanChairmanContinue. Hon. Wayne L. Furbert: Mr. Chairman, clause 1 is the standard citation of the Bill under consideration. Bermuda House of Assembly Clause 2 amends section 15 of the Internal Audit Act 2010 (composition of the Internal Audit Committee). Paragraph (a) deletes subsection (1)(c), which provides that the Assistant Secretary …
Continue. Hon. Wayne L. Furbert: Mr. Chairman, clause 1 is the standard citation of the Bill under consideration.
Bermuda House of Assembly Clause 2 amends section 15 of the Internal Audit Act 2010 (composition of the Internal Audit Committee). Paragraph (a) deletes subsection (1)(c), which provides that the Assistant Secretary of the Cabinet (Committees) is a member of the Committee, because there is no longer any such post. Instead, the Secretary of the Cabinet, who is the chairperson of the Committee, will appoint one of the Permanent Secretaries. Paragraph (b) amends subsection (2) to pr ovide that the Permanent Secretary will be appointed for a term of one year and is eligible for reappointment, but shall not be appointed for more than two terms in succession.
The ChairmanChairmanAny further speakers? There appear to be none. Minister. Hon. Wayne L. Furbert: Mr. Chairman, I move that the preamble be moved.
The ChairmanChairmanAny objections to the preamble being approved? The Clerk: As for clauses 1 and 2, have they been approved? [Inaudible interjections] Hon. Wayne L. Furbert: Sorry, sorry. Thank you, Madam. I move that clauses 1 and 2 be approved.
The ChairmanChairmanAny objections to the clauses 1 and 2 being approved? There appear to be none. [Motion carried: Clauses 1 and 2 passed.] Hon. Wayne L. Furbert: I move that the preamble be approved.
The ChairmanChairmanAny objections to the preamble being approved? There appear to be none. Approved. Hon. Wayne L. Furbert: I move that the Bill be r eported to the House as printed.
The ChairmanChairmanThe Bill will be reported to the House as printed. [Motion carried: The Internal Audit Amendment Act 2018 was considered by a Committee of the whole House and passed without amendment.] House resumed at 11:49 am [Hon. Dennis P. Lister, Jr., Speaker, in the Chair] REPORT OF COMMITTEE INTERNAL AUDIT …
The SpeakerThe SpeakerMembers, are there any objections to the Internal Audit Amendment Act 2018 being repor ted to the House as printed? No objections; so moved. We now move on to the second order of bus iness today, that being the second reading of the FinTech Development Fund Act 2018. The Minister …
Members, are there any objections to the Internal Audit Amendment Act 2018 being repor ted to the House as printed? No objections; so moved. We now move on to the second order of bus iness today, that being the second reading of the FinTech Development Fund Act 2018. The Minister of Finance, Premier, will you be leading this?
Hon. E. David Burt: Yes, Mr. Speaker, I certainly am. Before I begin . . . Mr. Speaker, sorry. I move that the Bill entitled the FinTech Development Fund Act 2018 be now read the second time.
The SpeakerThe SpeakerSo moved. Hon. E. David Burt: Mr. Speaker, can you give me just 30 seconds to do one thing? I just want to make sure that I can share a copy of my brief with my opp osite Member. Do you have an extra copy?
The SpeakerThe SpeakerSergeant -at-Arms? Yes, thank you. Come on, come on, Minister. Come on. [Pause] Hon. E. David Burt: All right. Mr. Speaker, I move that the Bill entitled the FinTech Development Fund Act 2018 be now read the second time.
The SpeakerThe SpeakerContinue. BILL SECOND READING FINTECH DEVELOPMENT FUND ACT 2018 Hon. E. David Burt: Thank you very much, Mr. Speaker. Mr. Speaker, I am pleased to present the Bill entitled the FinTech Development Fund Act 2018 for consideration of Honourable Members. The purpose of this Bill is to provide for the …
Continue.
BILL
SECOND READING
FINTECH DEVELOPMENT FUND ACT 2018 Hon. E. David Burt: Thank you very much, Mr. Speaker. Mr. Speaker, I am pleased to present the Bill entitled the FinTech Development Fund Act 2018 for consideration of Honourable Members. The purpose of this Bill is to provide for the establishment of a FinTech Development Fund. Mr. Speaker, Honourable Members will be aware of the various memoranda of understanding that have been signed by the Gover nment as part of the development of the FinTech industry in Bermuda. With this push to develop another pi llar of Bermuda’s economy, the Government is deter-mined to cultivate local and overseas investment as 2600 29 June 2018 Official Hansard Report
Bermuda House of Assembly we develop this new industry. We promise to create an environment in which Bermudian business can thrive, opportunities for Bermudians can be c reated, and in which capable, qualified Bermudians can bene-fit from opportunities to train, work, and succeed at every level. Mr. Speaker, the memoranda which have been tabled in this Honourable House contained u ndertakings that will see various partner c ompanies invest significant sums of money to support the trai ning of Bermudians. It is important that the Government is ready to receive these funds and to ensure that they are paid out in accordance with the terms of their i nvestment. Mr. Speaker, this Bill will ensure that the sums paid into the fund are properly segregated and di sbursed as required, by creating a fund for this purpose to be known as the FinTech Development Fund. Honourable Members will be aware of other such funds to which monies are paid from specific sources and a disbursement therefrom is regulated by specific, stat utorily prescribed criteria. Most notable are the Confi scated Assets Fund established under the Proceeds of Crime Act 1997, and the Government Reserves Fund established under the Public Treasury (Administration and Payments) Act 1969. Honourable Members are advised that it is proposed that disbursements from the fund for the following purposes be made with the approval of the Minister of Finance and the Minister responsibl e for E - Commerce, subject to consultation with the Minister responsible for Workforce Development. Mr. Speaker, those items are as follows: • to support educational programmes or initi atives providing financial technology training for Bermudians; • to support other educational programmes or initiatives related to the development of financial technology business in Bermuda; • to support the development of compliance and regulatory capacity related to financial tec hnology business; and • to support the activities of any advisory body appointed under any Act, or otherwise, in support of financial technology business. Mr. Speaker, the Bill also makes additional provisions for the Minister, after consulting with the Ministers responsible for Youth Development, Health or Sports, to make disbursements from the fund to support community -based organisations promoting youth development; health care, or the care of seniors in Bermuda; and sporting clubs. Mr. Speaker, in keeping with the general administrative principles ascribed to other funds under the auspices of the Government of Bermuda, it is pr oposed that monies in the fund be invested in accor dance with the Public Funds Act 1954, with any income paid into the fund; the financial year end of the fund to be the 31 st of Mar ch; and there should be a duty to keep accounts, and a copy of these accounts shall be provided to the Auditor General. And there should be an annual reporting requirement and a statutory r equirement to table a report of the audited accounts in the legisla ture. Mr. Speaker, in closing, Bermuda has taken great strides to ensure that it can be a global centre of excellence for FinTech businesses. Over the last two weeks, no less than 10 companies have come to Bermuda, looking to set up FinTech companies right here in Bermuda. This fund will ensure that Bermudians will benefit from the development of this industry and that Bermudians are trained and equipped to not only be employed in these new FinTech firms, Mr. Speaker, but also to be able to start thei r own. With those introductory remarks, Mr. Speaker, I now read for the second time the Bill entitled the FinTech Development Fund Act 2018.
The SpeakerThe SpeakerThank you, Minister, Premier. Does any other Member wish to speak to it? We now recognise the Leader of the Oppos ition. Honourable Member, you have the floor. Hon. Jeanne J. Atherden: Thank you, Mr. Speaker. Mr. Speaker, I think we are very much aware of the Government’s desire to …
Thank you, Minister, Premier. Does any other Member wish to speak to it? We now recognise the Leader of the Oppos ition. Honourable Member, you have the floor. Hon. Jeanne J. Atherden: Thank you, Mr. Speaker. Mr. Speaker, I think we are very much aware of the Government’s desire to establish the FinTech industry. We are very much aware of the MOUs that have been developed, and we are pleased that the Government actually shared them with us, because it gave us the opportunity to see, you know, some of the things that the companies were expecting the Government to do and some of the things that the Go vernment was expecting the companies to do. And for some time, I, like some other people, have been a little concerned about the fact that we have been having large sums of money being given, even if they are just given in terms of an MOU, and therefore wanti ng to make sure that the expectation that the companies would have would be met. B ecause the bottom line is if these things are going to be as fast -moving as one would think, it is going to be very important, especially when we start to relate to things like training and making sure that Bermudians are sufficiently trained, that there is something in track. So, I know that the monies have to come in in order for them to be utilised where the monies are to go out. And I think that it was good to hear the Pr emier indicate that the monies were going to be subject to the same type of scrutiny, or I should say oper ational review, that the Confiscated Assets Fund had, as well as the fact that there is the (and I wrote it down) Government Reserve Fund, and the fac t that there are regulations that have been set up to make sure that, when the funds come in, how they are act ually disbursed, how the Accountant General makes sure that he is aware of them, and how the auditor
Bermuda House of Assembly comes afterwards and makes sure that there is an actual report. Now, at one stage when I looked at this, I was a little concerned about the reporting side, because I thought, Oh, hey. Why don’t we have some information sooner? But I recognise that this is in line with the way all of the other funds are, that, come to the end of March 31st, it is a year. The Accountant Ge neral or the creator . . . a report, the auditor looks at it and makes sure that the funds have been disbursed. But to me, the thing that is different about this fund, which is diff erent from the Reserve or the Confiscated Assets Fund, is the fact that you have monies which are being given for a range of activities. And some of these activities are not clear in terms of what they are going to buy. So, you have under the . . . if you have monies that come in to the Consolidated Fund, nothing is sent, nothing is disbursed unless someone in the procurement department makes sure that it is going to the right persons, that there is some measure of review to make sure that it is value for money, making sure that there is an accounting aspect of it. And I am just concerned that, because these funds are a little bit different, that perhaps we are not putting as much scrutiny to their utilisation. And I say that because, on the one hand, if you have it where it is supposed to be set up for tec hnology training and FinTech technology training, one would like to think that it is not just that the funds get authorised to go to Company X and that is the end of it. Because the way the Reserve Fund is right now, the Accountant General just has to make sure that they go to Company X. But I believe that, in these ci rcumstances, because it is so different, and because there is so much of a concern about making sure that it happens and making sure that it actually gets where it needs to be, that I believe that perhaps we should be considering some type of additional scrutiny before the money actually leaves the fund. The same way like in the Consolidated Fund, the money does not leave the fund until a procur ement officer or someone makes sure that it is being used for the purpose that it was supposed to be used for, that it is going to som ewhere which has value for money, et cetera. And I am just saying that because that is what I believe is a little different than what might have ha ppened when you looked at the Confiscated Assets Fund, where the person who lost the funds or where the funds came from, he has no stake in it. He has no stake in how the funds are being used. He has no i nterest in whether they are used wisely. But the person who gave that $10 million and wanted it to be used for the FinTech technology is expecting that we are going to have some people trained, we are going to have them brought up to a certain time frame. And it is those types of things that I believe should warrant some degree of regulation or some degree of gui dance. Because right now the Act just sort of says, The Minister, with the E -Commerce Minister, makes those decisions. And the only other time he actually involves another Mi nister is when you start to look at things that might relate to Workforce Development. And I look at it as two different items. The FinTech technology, you have something that you have to do in terms of disbursements. And there is another range of disbursements which are relating to what I call the community involvement. Now, the community involvement is when you are talking about giving money to sports clubs and when you are talking about giving money to development programmes, youth development programmes , giving money to agencies that are involved in long- term care and seniors, et cetera. They have two different types of i ssues. And my concern is, if we are looking at the i ssues and we want to make sure that the monies are being spent on what they were supposed to be given for, as it relates to, especially, the FinTech industry, I believe that there should be some more regulation, some more guidelines. And I believe that it might be important for the Minister of Finance to consider whether these types of disbursements should be subject to some type of r eview, a similar type of review like you had with the Office of Procurement.
The SpeakerThe SpeakerMm-hmm. Hon. Jeanne J. Atherden: With respect to the other type of disbursements, when I talk about disburs ements to the sports clubs, I guess I would have to say that my concern is that, because knowing that the original premise, if I remember correctly, when the Government talked about …
Mm-hmm. Hon. Jeanne J. Atherden: With respect to the other type of disbursements, when I talk about disburs ements to the sports clubs, I guess I would have to say that my concern is that, because knowing that the original premise, if I remember correctly, when the Government talked about wanting to help sports clubs and wanting to, you know, effectively, in my words, tr y to transition them into more of what I call community - type organisations, I was just concerned as to how one makes a decision on whether a particular sports club warrants a disbursement. And depending on how you actually apply for it, because . . . and i f you allow me, Mr. Speaker, just for one moment, I want to use one part of it just to clarify what I mean. Under the Bill, it says, “‘sports club’ means an organisation dedicated to a particular sporting activity which is regulated by a sport governing b ody in Be rmuda.” And I looked at that, and I said, Okay. I could look at Young Men’s Social Club. I could look at Somerset Cricket Club. And on the one hand, there are sports clubs. But then I said, Okay. (I am going to use Somerset Cricket Club as an exam ple.) Somerset Cricket Club, the cricket part of it is regulated by a governing body in Bermuda. The football part of it is regulated by a governing body in Bermuda. So I did not know whether the basis for giving the funds to this particular sports body, whether there could be any sort of further clarification as to what guidance one might use to make a decision as to whether a body would get it. 2602 29 June 2018 Official Hansard Report
Bermuda House of Assembly Because, as I say, on the one hand if you are saying you are going to try to get them perhaps going towards being more community clubs, and there was a concern that the clubs had too great a reliance on alcohol and there was too great a reliance on having people come there of an adult age, and not enough emphasis being given to the young people and deve loping young people, et cetera . . . so I just wondered whether there was an opportunity to have some sort of guidelines that the people would know that, when the Minister makes these decisions, that perhaps there is going to be a waiting, given more to not just saying, XYZ Club is in financial straits, because lots of clubs are in financial straits. But my understanding was not just to give the money to people because they were in financial straits, but to try and help them to transition from being just a club, which is where people will come there and it is almost like a social club, and [transform] them more into being a community club. And that is why I believe it is important. If the Government is trying to do that type of transition, then it would be important, there would be some criteria, not just the fact that they would have to be regulated by a government body, a sports governing body. And so, I believe that it is i mportant to ask the question, because I think $10 mi llion is a lot of money, which means that it is a lot of opportunity for either the monies to be put towards education versus the monies to be put towar ds these other purposes. And I did not know whether the Go vernment has had the opportunity to determine how much money that they believe needs to be earmarked for what I call the FinTech training programmes. And I am also mindful of the fact that the Gover nment, I am sure, hopes that there is going to be more money coming in from other people. But I just wanted to have an indication as to how much money might be . . . the Government believes that in the initial training for adhering to the MOU that came abo ut, how much money the Government thought we would have to set aside. Because my recollection is that there was an MOU, there is an expectation of getting people trained up. There is an expectation that these people have to be up [within] a certain time fr ame, which means that time is going to require either some acceleration of the training aspect of it . . . and I think it would be useful to know how the money gets all ocated to individuals, as opposed to just saying that it is being dispensed to Company A , and not getting a feeling for whether there is some degree of an RFP, some degree of making sure that it goes through, as I said earlier, the same type of process that it would have gone through if it was coming out of the Consol idated Fund and coming through Procurement. And it says, at clause 4(3) that “the Minister, after consulting the Ministers responsible for youth development . . . may also authorise payments to be made out of the Fund to support . . .” And I know in the past that, obviously, we ha ve done, as a Gover n-ment, some of these things in the past. So, I know. I have less of a concern with respect to the sports development programmes; I really do have a concern with respect to, as I say, the sports bodies as a whole, because I think that thi s is where there is an opportunity for the Government to make a contribution and a change in the direction as to how sports bodies are interacting with their communities. And last, I think, Mr. Speaker, I just wanted to say that, with respect to the funds themselves, there are going to be, as I said, many more MOUs that are going to come up. And I think it might be useful with respect to the MOUs where it requires the Gover nment to live up to some sort of obligation that the r estrictions or the guarantees t hat the Government has to give, if some of that might be actually set out in a little greater detail, because then the people of Ber-muda would know, you know, [concerning] the $10 million, how much has to be done? And as new things come in, especially bear ing in mind the intention for a lot of these things, I would think it is to try and generate jobs and to make sure that the jobs are there for Bermudians. So, that is going to be very important for us to see how it translates into who gets the work to trai n these individuals, how we put it into the system, and how we make sure that the MOU adheres to the condition that the person who signed it on the other side of the Government put forward for us when we entered into it. So, I am looking forward to perhaps hearing from the Minister as to how, when he consults, what type of detailed consultation one might have, especia lly, as I say, when it relates to spending money for specific projects like the training, as opposed to giving things to people who have progr ammes. So, I believe that this is how I differentiate the concerns not only that I have, but that other people have with respect to making sure that the FinTech Fund is not just about getting it in; in some respects, it is even more i mportant about its goi ng out. Because, as the Minister has said, getting it in is just like some of the other general reserve funds that we have. Government gets lots of money. They come in; somebody manages it; you make sure that the interest is there and it acc umulates, et cetera. It is the going- out. It is the going - out where I think it is very important. And I do not believe that Bermuda should be waiting until it is a year, or the year -end and the auditor comes and says, Okay, this is what’s left. I believe that there shoul d be some earlier reporting, some earlier control. As I say, I do not know whether the Minister will consider that. Because the Office of Project Management and Procurement is an internal, perhaps it cannot do that type of a service. But I do think som ebody needs to look at that. Somebody needs to look at how the funds are used. Thank you, Mr. Speaker.
Bermuda House of Assembly The Speaker: Thank you, Member. Does any other Member wish to speak? I recognise the Honourable Member Commi ssiong. Honourable Member, you have the floor .
Mr. Rolfe CommissiongMr. Speaker, we are here in consideration of the FinTech Development Fund Act 2018. And I think it is a signal and innovative a pproach to utilise the growing investment in Bermuda and Bermudians that is represented by the growth o f this needed diversification in our economy. So, we …
Mr. Speaker, we are here in consideration of the FinTech Development Fund Act 2018. And I think it is a signal and innovative a pproach to utilise the growing investment in Bermuda and Bermudians that is represented by the growth o f this needed diversification in our economy. So, we are talking about the growth of this FinTech sector, which I guess would be the umbrella phrase in which it characterises what is happening right before our eyes. We are going from a period of austerity , Mr. Speaker, as characterised by the last six, seven, or eight years, to perhaps an era, maybe even beyond, perhaps, now, that is going to be characterised as Our cup runneth over. The question is, How wisely —and this probably will echo what was said by the Oppos ition Leader —how wisely do we utilise this turn of fortune on behalf of Bermuda and Bermudians? Certainly, Mr. Speaker, we do know, for example, that we have one company already which has invested $1 million in partnership with the Bermuda Governm ent. It is no secret; it was announced yesterday. And to ensure that the technology hub in Hami lton is going to become a reality, this company has also committed to purchasing other real estate in Bermuda, which they have done. They are on their way, Arbit rade, to becoming a leading company in the sector globally, but also a pioneering company in terms of actual boots on the ground for Bermuda in this burgeoning sector of our economy. And I think it would be wise for us to start thinking strategically abou t how we manage this sector beyond what is prescribed by the Acts we have passed over the last four or five months. And this is part of that strategic thinking, Mr. Speaker, called the FinTech Development Fund Act. Very quickly, Mr. Speaker, the primary purpose of the fund is to support educational pr ogrammes or initiatives providing financial technology training for Bermudians. This is very key. We also know that, unlike, say, the America’s Cup, which was a one- off-style event, although we now are hearing that we may get a variation of that within the next 12 months, again, but a one- off event. It did not represent a sort of sustainable growth in our economy or a sustainable sector. This does. And we need to be able to ensure that six, seven, ten, twelve years from now, there is a pipeline filled with qualified Bermudians who are going to be able to take their rightful place in that sector. You know, my favourite saying now is that we want to ensure that, 10 years, or 7, 8, 9, 10 years from now, this sect or has more than one Patrick Tannock. And I am sorry to Patrick, Mr. Tannock, who is a fine executive from that company, to use his name so of-ten in these Chambers. But he so much symbolises what is the failure of Bermuda with respect to inclusiv ity, racia l equity and the rest around the development of these sectors. And so, we want to ensure that there is more than one Patrick Tannock, there is more than one Leah Scott, there is more than one David Burt in this sector 10 years from now. And I think we are laying the groundwork properly under the astute leadership and committed leadership of the Premier, and, of course, the Minister of National Security, and the whole Cabinet team here. And so, the training —in terms of producing people through this pipeline, well -qualified professionals coming out the other end, black Bermudians and Bermudians in general who are going to be able to take their rightful place in this burgeoning industry —is going to be key. And that is what we are going to be judged upon. But w e are also going to be judged upon how well we use this largesse that is coming through this pipeline, as well, as represented by not only A rbitrade, but, as the Premier indicated, the other 10, perhaps more, companies that are going to be dom iciling here with boots on the ground within the next year to year and a half. And so, we know that it has got to be a joinedup concept here between ministries. Certainly, as this Bill points out, the role of the Workforce Development Department is going to be very k ey, and the synergies that can be created with education around career d evelopment are going to be critical in this regard. We are pouring and are going to pour in significant r esources. One of the upside results of this is going to be that that digital di vide I talked about between the private schools on the one hand and the public school sector is going to be eliminated. We are going to have the type of resources that we can pour into the educ ation and training, to get the technological savvy, which is ne cessary, imbued in our students so that they can take their rightful place. And to eliminate what I have been calling that digital divide, which not only is pr ivate and public, but also with respect to black and white in terms of development of our young s tudents. So, this is a great day for Bermuda when we are tal king along these lines. Mr. Speaker, just moving on very quickly, [the Bill at clause 4(1)(b)] talks about “other educational programmes or initiatives related to the development of financial technology business in Bermuda; (c) the development of compliance and regulatory capacity related to financial technology business . . .” And tal king about the development of compliance and regul atory capacity, we spoke a few weeks ago about the role of a grou nd-breaking programme for Bermuda, which has been hosted by the Bermuda College for the last maybe five years. We used to talk about it when we were in Opposition. And, of course, we had Members of the then Government, particularly the former Member Grant Gibbons, who used to speak about it as well. 2604 29 June 2018 Official Hansard Report
Bermuda House of Assembly We are talking about the RCA [Regulatory Compliance Association] programme at the Bermuda College, which can provide another pathway for Bermudians, even those who may have been in the corporate sector operating at very high levels, but who may have been marginalised or found themselves unemployed during the height of the great recession, and who can now go and get compliance qualific ations at Bermuda College, by way of this RCA pr ogramme. And we are not talking about having to go up there for two or three years to become sufficiently cer-tificated to be able to go right into the corporate sector and find yourself in a very successful and lucrative career. This is what this Government is committed to, and we are go ing to ensure that this programme continues along with other ancillary programmes which are going to meet the employment requirements of these companies. And so, compliance is a big piece of this. And there are going to be a number of compliance jobs that are going to be available over the next 18 months. And I would ask our young people, and the parents who are listening now, get your grandchildren even, those who are six, ten, twelve years of age, to start looking at becoming compliance officers, becoming persons proficient in coding and data analytics. If we can get our people, as this Government is commi tted to doing, moving in this direction over the next two, three, four years, I think our goal of ensuring that this is going to be an industry that look s like Bermuda is going to be achieved before the next decade is complete. Moving on, clause 4(1)(d), “the activities of any advisory body appointed under any Act or other-wise in support of financial technology business.” I just want to move on to just under that, Mr. Speaker. [Clause 4(2)] “The Minister and the Minister respons ible for e- Commerce acting jointly may, after consul ting the Minister responsible for workforce development, authorise payments to be made out of the Fund for the purposes listed in subsection (1).” Again, this is speaking to the amount of investment, potential i nvestment that is going to be available to really push our workforce development forward. You may note, Members, that we have a pending debate that will soon come here, in ter ms of the 2018 Workforce D evelopment Plan. And so, we are looking forward to that. Moving on, [in clause 4(3)], “The Minister, after consulting the Ministers responsible for youth development, health and sports, may also authorise payments to be made out of the Fund to support —(a) community -based organisations promoting youth d evelopment, healthcare or the care of seniors in Bermuda; and (b) sports clubs.” So, we know that the Minister of Health has a monumental task in being able to bend the cos t curve dow n in terms of healthcare. We also know, by way of the census, that we have an ageing population, Mr. Speaker. Right now, Bermuda is definitely in the top five or six for aged populations, with an age for average and/or m edian (anyone can correct me here; I always mix those two up) of 44 years of age. And so, the health profile of Bermudians, ipso facto , is going to continue to be challenged. As we get older, we get more ailments. And that is just a fact of life. And so, it is going to be a significant chall enge to bend the cos t curve down in terms of healthcare at the same time that your population is ageing. That is just a fact of life. So, the ability of us to have additional funding coming in that more specifically can go t owards healthcare, and particularly to support our seniors in Bermuda, is going to be critical. And this should not be underestimated, especially considering the trends that we talked about and will continue to talk about in this House in terms of this aged population. Sports clubs, Mr. Speaker. Some of the Members here will remember that we had in 2005 the sports . . . the Clubs Committee that was chaired by myself. (My son has just walked in.) Then Alex Scott was the Premier, and the Minister Dale Butler, at the time, formed this commit tee. We came up with a final report, which I am gratified to note is still being talked about today both in the civil service and amongst some of our colleagues. Because that report talked about a way in which we can modernise the financial management of t he clubs, modernise the way these clubs are organised in such a way, based on best practice globally, that could see our clubs, with the help of significant players from the private sector, i ncluding some of our banking partners here, who were prepared to come in and help the clubs, to organise themselves better in a more modern sense, but that, again, was back in 2005. There was also a report that, while talking about the funding that the then PLP Government was going to make available, talked about the ne ed for accountability and responsibility. So, yes, the funding was there. But the report put out several recommendations which made it clear that, if the clubs went through the process of allowing these professionals and others to help them to modernise the way they managed their club affairs in terms of finance and other forms of management of the club, then we could see clear to allowing these clubs to tap into the type of funding that would help them immeasurably. Subsequent to that, Mr. Speaker, of cour se, that model did not (how can I put it?) . . . that model seems to have been thrown out the window subs equently. And funding was made available, and it may have been in the exigency of a pending election. And I am being very honest about it: I was critic al about it then. But we have another chance here. We know our clubs are struggling. We know that they are struggling mightily. And if we can again set forth a model, not just to pour money into the clubs, but to ensure that these clubs can reflect best pr actice in terms of financial, whether other forms of management, as I have
Bermuda House of Assembly mentioned a couple of times already here, in return for the funding that they so sorely need, I think it is the way forward. And so, this can be another lifeline. In short, Mr. Speaker, I think, you know, this funding, potential funding, if used correctly, can help to turn the tide of the deterioration of what I call a decline in social cohesion in Bermuda in so many areas. We look at all the matrices, again, going back to that census, particularly as it is affecting Bermuda’s black community, and get some of the funding that we need to ensure that those who need it the most can get it. Lastly, Mr. Speaker, I want to talk about what I see as perhaps maybe the genesis of what could eventually become a sovereign wealth fund for Bermuda. Yes. You have got to think forward now, and strategically. We do know that, for example, in Norway . . . if I just may, with your indulgence, Mr. Speaker, read from Money.
Mr. Rolfe CommissiongIt talks about how Norway has set aside almost $200,000 for each of its 5 million citizens out of its sovereign wealth fund. And it goes on to say, if I may, as I have already asked your i ndulgence, Mr. Speaker, “Norway’s giant government savings fund said it hit …
It talks about how Norway has set aside almost $200,000 for each of its 5 million citizens out of its sovereign wealth fund. And it goes on to say, if I may, as I have already asked your i ndulgence, Mr. Speaker, “Norway’s giant government savings fund said it hit a new milestone on Tuesday: It had amassed $1 trillion, or roughly $188,000 for each of the 5.32 million Norwegians. “The fund, which holds and invests the pr oceeds from Norway’s enormous oil and gas wealth, which was discovered in the 1960s in the North Sea, is intended to provide ‘for future generations’ of Norwegians.” (That is key —for future generations of Norwegians. ) “Invested in stocks, bonds, and real estate, the sovereign wealth fund has gotten a boost this year as stock markets around the world have rallied. Apart from 212.5 billion Norwegian Kroner (about $27 bi llion) that the fund transferred to the Norwegian go vernment last year, the assets are invested for the long term, so Norwegians can continue to benefit from the energ y windfall even after the oil wells run dry.” Now, it is interesting because that is not necessarily what they call a universal basic income- type programme. But it is a rainy -day fund for when the oil revenue dries up. So that is one approach. The other approach is one that is more consistent with what I call the universal basic income ap-proach. And that is presented by Alaska. The same article, Mr. Speaker, I am just going to continue. It says, “Residents of one state, however —Alaska —do receive an annual cut from the energy produced in their state. Since the state started doling out dividends in 1982, those yearly checks have ranged from around $300 to $2,000, according to Courthouse News Service; last year each Alaskan got $1,022 for his or her share of t he state’s energy wealth. ” Now, certainly it is too premature right now to talk about moving in this direction. But again, with some of the indicators we are getting, and for some of the evidence that has already been made available before our eyes, there is a potential down the road that we may want to consider that approach. We are of the view that this sector can certainly help to dimi nish both the debt and deficit matrix that Bermuda currently is bedevilled by, bring down our overall debt considerably. And if we are basically able to turn around Bermuda in terms of fiscal sense, certainly these types of programmes, tailored to the Bermuda context, should be evaluated in perhaps another two or three years to ensure that our people are going to achieve si gnificant benefits, even directly, along these lines. Now, Mr. Speaker, I will just say this very quickly, and it is still tied to this. And that is, with the amount of capital that is lining up like 747s at Kenn edy Airport on the runway, ready to land, or take off and then land in Bermuda, Arbitrade, obviously, bas ically has landed. They are taxiing now to the terminal, the L. F. Wade terminal. (My political mentor [who was] mentioned today, and he is fondly remembered.) We have to understand that there is a potential risk to Bermuda, not to all Bermudians. And what I mean by that is that we could very well see hundreds of millions of dollars being invested in Bermuda in the next year to 18 months, perhaps even billions. We will remember back in the mid- 2000s how a similar spurt of i nvestment in Bermuda, then in terms of the then IB [i nternational business] sector, reinsurance, insurance and ancillary industries, unleashed a wave of inflation in our economy, typically as it relates to housing costs. This had a major impact on low -income Bermudians. It is no secret now, since we can now talk honestly about this, we are talking about predominan tly, overwhelmingly, disproportionately black Bermudians. And so, we need to ameliorate that risk this time, because th e amounts of inflows, capital inflows, may even exceed what took place after 9/11 and [Hurr icane] Katrina. It just may do, considering what we have seen just over the last few months. So, we need to find ways in terms of public policy to ameliorate those p otential impacts. And what are those public policy initiatives that need to come to fruition in tandem with the growth of this sector? At the risk of repeating myself (many times over), one, the Cost of Living Committee. We need to have that work being com pleted and come to the table with its recommendations. We need to have the Tax Reform Committee to have that work co mpleted and come to the table. And, of course, the Li ving Wage Committee’s work around its final report. I am happy to report that, without speaking out of school, we are going to be there very soon, before this House leaves for the summer. 2606 29 June 2018 Official Hansard Report
Bermuda House of Assembly But we have to have those public policy initi atives being implemented in tandem with the growth of this sector. Now, of course, there are going to be ot her initiatives that also have to be implemented in ta ndem with this sector. For example, we need to ensure that there is going to be a workforce that looks like Bermuda. I spoke of that already. So we may need to talk about inclusivity and diversity policies . These companies themselves, I do not think, are opposed to that. From what I am gathering, they want to be in Bermuda. They want to do business in Bermuda. And they respect this Government and Bermudians. And many of them, we should note, are already com pliant with diversity.
The SpeakerThe SpeakerLet me just ask, would you like to yield now? Or do you want to wrap up and complete your presentation?
Mr. Rolfe CommissiongI will wrap up right now, Mr. Speak er. Thirty seconds, forty seconds. So, these companies know what is required of them because this Government has ensured that they understand that we want companies eventually that look like Bermuda right from the very beginning. That did not take place w …
I will wrap up right now, Mr. Speak er. Thirty seconds, forty seconds. So, these companies know what is required of them because this Government has ensured that they understand that we want companies eventually that look like Bermuda right from the very beginning. That did not take place w ith the growth of the established IB companies and reinsurance and insurance. So, Mr. Speaker, I am happy to say that I will be supporting the FinTech Development Fund, along with the legislation that was passed over the last three or four months. This, t oo, is an innovative approach to ensure that our people are not going to be left behind. Thank you, Mr. Speaker.
The SpeakerThe SpeakerMinister, I understand that you would like to have us pause for a moment. Hon. Walton Brown: Yes, Mr. Speaker. I move that we do now adjourn for lunch and return at 2:00 pm.
The SpeakerThe SpeakerDoes anyone object to that? No objections. We now stand adjourned for lunch until 2:00 pm. [Gavel] Proceedings suspended at 12:32 pm Proceedings resumed at 2:02 pm [Hon. Dennis P. Lister, Jr., Speaker, in the Chair] BILL SECOND READING FINTECH DEVELOPMENT FUND ACT 2018 [Continuation thereof]
The SpeakerThe SpeakerGood afternoon, Member s. We are r esuming the debate that we were in the process of when we broke f or lunch, and that is the second rea ding of the FinTech Development Fund Act 2018. Does any other Member wish to speak? The Honourable Member Commissiong was on …
Good afternoon, Member s. We are r esuming the debate that we were in the process of when we broke f or lunch, and that is the second rea ding of the FinTech Development Fund Act 2018. Does any other Member wish to speak? The Honourable Member Commissiong was on his feet. He is not here now, so we will move on to the next Member. I recognise the Honour able Member Dunkley. Honourable Member, you have the floor.
Hon. Michael H. Dunkley: Thank you, Mr. Speaker, and good afternoon. I hope everybody had an enjoy able lunch break. Mr. Speaker, I appreciate the opportunity to speak for a few moments this afternoon in regard to the FinTech Development Fund Act 2018. Let me start out by saying that, while I am not caught up in the hype that this is in fact the third pillar of the economy, I certainly would like to be proven wrong on that. In regard specifically to the FinTech Development Fund, let me say very clearly that anytime there is an opportunity for education and development, especially, Mr. Speaker, with the private sector bein g involved, parti cipating in that, then I think that we should do all we can to support that initiative. In this case, it appears to be the reality that the private sector is going to be i nvolved in education and development. So that is a good thing. Howe ver, having said that, Mr. Speaker, because it is a good thing, obviously we need to make sure that there are proper levels of control and ac-countability along the way. Because, obviously, Mr. Speaker, as you can imagine full well, I think anyone involved, whether it be those individuals or those companies that will be contributing to the Fund, and certainly the people of Bermuda who we serve up here by everything we do within this Honourable Chamber, will want to have full transparency and accountability of what is taking place so that we can have confidence that the money is being used in the appropriate ways and being productive in its use when it is being guided in the direction, and that it is appr opriately used and has effective and measurable r esults. The Bill that we have today is a very short Bill. I think that there is the potential to tighten it up and make it a little bit more specific as we go along, be-cause, Mr. Speaker, when I looked at this Bill, it is very clear, it says it is a FinTech Development Fund Act 2018. The title in itself is very specific, but if you start to read through the Bill you will see that it is very broad and it can be a catchall in many different areas.
Bermuda House of Assembly And without getting into the specifics, but when the Honourable Prem ier introduced the Bill two weeks ago, he took the opportunity when he tabled the Bill and provided this honourable place with a Statement at the time, the Honourable Premier did go through the uses of the money. It says at clause 4 , Purpose of the Fund . . . and the last part of that says that it can be used for community -based organisations promoting youth d evelopment, healthcare, or care of our seniors in Ber-muda, and then finally, [ clause] 4(3)(b) says sports clubs. So there is a very broad ability to interpret how it is going to be used, and, you know, with a little bit of imagination I am sure there will be many people a pplying in different ways. And I am sure, Mr. Speaker, if this Bill had been passed two weeks ago it might have been used to build t he wall up at Somerset Cricket Club—
An Hon. Member An Hon. MemberWhoa! Whoa! Hon. Michael H. Dunkley: —because that would fall into community -based organisations and sports clubs. And we would not have to go through the challenges that we faced a couple of weeks ago. [Inaudible interjections] Hon. Michael H. Dunkley: I hear the Honourable Mi nister say, Touché!, but, …
Whoa! Whoa!
Hon. Michael H. Dunkley: —because that would fall into community -based organisations and sports clubs. And we would not have to go through the challenges that we faced a couple of weeks ago. [Inaudible interjections] Hon. Michael H. Dunkley: I hear the Honourable Mi nister say, Touché!, but, you know, we could have . . . maybe it just came a bit too late. But maybe there will be other uses down the road. So while the title of the Bill is very specific and most of the clauses are very specific in dealing with technology, the ending part allows for a broad degree of latitude. And I would hope that the Honourable Members on the Government benches, certainly Mi nisters when they speak and the Premier when he has an opportunity to wrap up, will be a little bit more specific about the broad uses that will take place here. I think that as we debate important issues in the House it is always good to have some clear indication on what Government’s d esire is. When I first read the FinTech Development, I said, Okay, that’s fine. But now they have opened it up and it appears that there will be a lot of applic ations for it. Certainly, Mr. Speaker, we know that many of our community organisations and any registered charity will fit the requirements for this Fund. Sports clubs will fit the requirements for this Fund. I think that you will probably have many people knocking down the doors, of those who consider funding for various needy organisations and appropriate organisations, and there will be many applications coming forward. So I think it is important now that we establish the cr iteria, so people understand how it is going to take place going forward, and there is some accountability in regard to that. Let me tangent into my next point, Mr. Speaker, and that deals with questions on how people will apply, who can apply, and can you actually make application for it. Through this short piece of legislation there is very little said about the application pr ocess. I know that Government Ministers will perhaps be besieged at the end of this debate when information gets out into the community that there is a FinTech Development Fund and [because] in this Act it is a broadbased Fund, I am sure that they will be besieged for requests for, Okay, well, here is my deal, here is our organisation’s deal. We too would like to see if we fit the criteria for it. So what is the process? Is it a pr ocess that it is top -down, or is it bottom -up? Will the community be able to apply? Is there a board that will review the applications or will it just go to the Ministers responsible? And having said that, Mr. Speaker, I think in clauses which we will get to in Committee, I think it is clause 6, it says the Annual report on the F und, which lays out the timeline of when reporting has to take place and how it takes place, I think it would also be wise at this time for the Government to perhaps pr ovide a bit more information on extra reporting that will be done. I say that specifical ly to consider that when awards are given out for various interested parties to fulfil certain requirements on education or community development, that it would be appropriate for the Government to come back to this Honourable Chamber at the next meeting j ust to give an update on who has been awarded, why they have been awarded, and what work will go forward. That, I think, meets the best details of transparency and accountability, but what it also does, b ecause if we want this to be successful [and] we want people to have a clear understanding of what it means, it will bring that clear understanding to the community, it will allow people to know the work that is taking place, it will allow people to know what type of initiatives are taking place, it will a llow people to know how Bermudians are moving forward to receive the required support, education, and development that they get. I think it would be appropriate for Gover nment Members to stand up and talk about the process in more detail. I speak from experience with the Cashback for Communities Bill that we passed a couple of years ago which has been widely successful. I think over $1 million was put back into the community, perhaps through a few dozen awards that were given to community clubs and sports clubs across the community. In spite of acknowledging all awards that were given at press conferences and giving details about the organisations that we helped, there was still some uncertainty throughout the community on who could apply, how they would apply, and how the money would be received. Mr. Speaker, the Honourable Opposition Leader did comment in her opening remarks on this 2608 29 June 2018 Official Hansard Report
Bermuda House of Assembly Bill, asking questions about amounts to be expected. I would certainly follow -up on those comments and ask for the Honourabl e Premier, or any Member of the Cabinet who is aware it, to provide some meat on the bone on the amounts that can be expected to be put in the Fund. Obviously, there has been a great deal of fanfare around the whole FinTech and cryptocurrency space. Every time they have an opportunity, the Go vernment talks about the broad interest that there is in the community about it. But I say with all due respect, Mr. Speaker, interest is just that. It is interest. It is not a commitment, it is not a forward decision t hat has to be made, it is just interest. So in this case we are setting up the Fund, and now is a good time for the Government to talk about some of the commitments that have been made to this Fund, and when the amounts that can be expected will actually be put into the Fund. In tangent with that as well, Mr. Speaker, we often get into debates in this Honourable Chamber about sources of money and KYC [Know Your Customer] and compliance issues, which are critically i mportant and are not going to disappear anytime soon. They might never disappear in the world that we live in. Just a question for the Honourable Premier and colleagues on that side, What type of KYC and compliance is going to be required for this fund? Because obviously, as one section of the Mi nistry of Finance works so hard to protect our reputation, to get the world to understand our reputation, and fights back some of the (my words) demons that we face from various quarters of the world about what we do here, we do not want to open ourselves up for scrutiny, by sources of money coming in that we are not fully aware of where they came from, how the money was made, and all of those various KYC and compliance issues which we will never be able to run from. So, Mr. Speaker, I recall that the Member who spoke just before me before lunch, used what I thought was an interesting analogy (and I paraphrase briefly). The amount of capital interested in coming into this sphere is lined up like 747s at JFK Airport, flooding into Bermuda. Well, I hope that is the case. And if that is the case, it makes it all the more i mportant that we are transparent and accountable for it and we know where every single one of those 747s is coming from and every dollar they have in it and where it came from as well. Because while we want to make sure that we have the hundreds of millions, as the Honourable Member from constituency 21 said, flooding into our economy over the next year or so, we also want to be able to stand up with hand on heart and say, We know where it came from. It is clean money. It is going to very important purposes to fur-ther our people, educate our people, and develop our people. And we will never be caught in a back and forth on the sources of any shadowy money, which is always trying to find a home i n the world that we live in. So, Mr. Speaker, I offer support for it, but this is a FinTech Development Fund Bill that has a much broader catchall part to it. And I think that as we go forward it would behove the House of Assembly and the people of Bermuda if more understanding was given to the extra add- ons, which could be critically important as well. Thank you, Mr. Speaker.
The SpeakerThe SpeakerThank you, Honourable Member. Does any other Honourable Member wish to speak? I recognise the Minister for Natio nal Security. Minister, you have the floor. Hon. Wayne Caines: If it pleases you, Mr. Speaker. Mr. Speaker, I think today heralds a continuance of a Government that has lived up to …
Thank you, Honourable Member. Does any other Honourable Member wish to speak? I recognise the Minister for Natio nal Security. Minister, you have the floor. Hon. Wayne Caines: If it pleases you, Mr. Speaker. Mr. Speaker, I think today heralds a continuance of a Government that has lived up to a campaign promise. And not just any campaign promise, we promised jobs, we promised opportunity, we promised people to be franchised. I think when you look at this space separately, or independently of anything el se, one thing that you can be sure of, or to coin a phrase, bet your bottom bitcoin on —
[Laughter] Hon. Wayne Caines: —is that the thing that is in the forefront of this Government’s mind is our global reputation. When we sat at the table at the advent of this conversation, the conversation centred around our position as a global financial centre. We reflected, Mr. Speaker, on our role in insurance and in financial services. And every move has been precipitated on t he fact that as a first . . . as a jurisdiction, that we had to ensure that this process was transparent, that it was keeping with international standards, and that we pr otected the international stellar, unblemished reputation of this country. And so when we hear the comments from the Opposition with reference to cryptocurrencies and with reference to this Act, we have to remember that the entire process has been conducted with KYC, (Know Your Customer) and AML (Anti -Money Laundering), with that in mind. S o this is just another el ement of the Government’s desire to make sure that this process is transparent, to make sure that it r eflects international best practices, and that it is a high level of accountability. And I think that is a formidable place to st art. Oftentimes we look at what we believe to be the pr overbial hole in the doughnut, instead of trying to eat the doughnut. We have looked and we have seen that there is a significant opportunity for our country to be advanced commercially, socially, in t he realm of education and we can do that through the use of FinTech technology. People have been desperate to pigeon-hole us into talking about cryptocurrencies. They have
Bermuda House of Assembly been desperate to pigeonhole the discussions around exchanges, or token issuances. This Government has been very mindful and very deliberate in our conversations about developing this space in a holistic manner that centres around developing a FinTech space. So whether we are tal king to companies that are coming to Bermuda to establish exc hanges or . . . this week I had the privilege to sit in the Ernst [& Young], the E&Y, a roundtable with all the captains and CEOs, of local reinsurance companies. And in this meeting this week, we talked about what it would look like for reinsurance companies in Bermuda as they consider, as they discuss, the key elements around the FinTech space. So not only are we looking at it from a perspective of exchanges, initial coin offerings [ICO], from the aspect of having exchanges, we are looking at it from the aspect as well, Mr. Speaker, of educ ation and developing an ecosystem. We are looking at it from where the average Bermudian can benefit from this. And this is not fraught with difficulty and should not be looked at with suspicion. It should be looked at this being a renaissance, a rebirth (if you please) of Bermuda to those times in the ’80s where there was the advent and the catapulting of reinsurance into the ether. And when the Member from constituency 21 speaks of the companies coming to Bermuda like 747s at an airport runway, it is a term of art. And what he was simply saying was that heretofore there has not, in a number of years, been seen this amount of tangible, reachable, palatable, interest in Bermuda. And what this Government has always intended in this space was for this space to have the highest of stan dards with reference to ALM and KYC, to the point that in this space they have coined a phrase around Bermuda, and the phrase that has been coined in the di gital assets space has been “the Bermuda standard.” So when you talk to people in this space, they say, What is the standard that you want to have? [And the answer is:] Well, we want to reach the Bermuda standard. What is the Bermuda standard? If you look at the ICO legislation . . . and the Member from constituency 10 asked some questions about, How will the money get in this space? Who will vet this money? Well, if you look at the ICO legislation, if you look at the DABA, the Digital Asset Business Act, it clearly sets out how you raise mone y, the vetting process, the accountability process, the requirements for the cryptocurrency . . . excuse me, the requirements for the cybersecurity for people to be resident in Berm uda. And so whatever company, whatever they are, if they want to set up in Bermuda, there are specific checks that have to be made. The question then was posed, How do we manage and know what is the amount of money that people are giving to Bermuda? Well, let’s be clear. There is no gun being held to anyone’s head. If you underst and this space . . . and I learnt about it in D a-vos in Switzerland at the World Economic Forum. This is a different modus operandi . This is a different space. They are looking in this space and how bloc kchain or DLT [distributed ledger technology], Mr. Speaker, companies can indeed change the world. And what we are saying to the people in this space is that we do not automatically and just see Bermuda as a place where you can make money, we are saying that if you want to develop a token or a coin that can end homelessness or be a place where you can look at medical technology, we want to be the home and the starting blocks for your company to be run eff iciently, have the highest standards of KYC and AML, and set a global standard. This legislation, Mr. Speaker, the FinTech D evelopment Fund [Act] 2018, is just that. This is ev idence to everyone who wants to donate money that there is a clear, there is a transparent way for you to donate money. In other words, if you have a penchant that you want to donate money to the Bermuda Government, well, this is the mechanism for doing so. So if you take away the conversation about the money . . . what are the Ministers doing with the money, well, this is a fund that is going to be audited. This is a fund that a person c an put this money in and then it could be distributed on from there. With reference to how the money will be used and how . . . well, we are looking at it from this standpoint. It is a clear indication that this Government realises that there has to be a c lear, unequivocal mechanism for placing the money, and that will be any money that is to help our community, and that is to come and go through the FinTech Development Fund. I think it reflects an ethos of a Government that wants to have clear guidelines on every bit. And so when you look at the ICO legislation, the digital asset legislation, we set what the framework is. But when it comes even to donations, we want that to be transparent. We want everybody to be able to see how that takes place and that i s part and parcel with this legislation. There has been broad interest in Bermuda. There are a number of companies that have shown significant interest in Bermuda and we believe that this is an opportunity for our country to go from strength to strength. A nd we believe that this Act, Mr. Speaker, is in keeping with setting up a proper, artic ulated plan that is transparent, and everyone who wants to donate to organisations in Bermuda, [this] gives them a clear guideline on how that takes place. It goes on t o say in [clause] 5(1), how the money will be paid into the Fund, how it will be inves ted, and how that will go. It talks about in [clause] 5(2) the responsibilities of the [Accountant] General in that process. It talks about where the transactions will be recorded. It will not be recorded in Wayne Caines’ HSBC account. It is a clear indication of who will be the recorders, who will pay out the money, and what the year -end audit process looks like with the annual 2610 29 June 2018 Official Hansard Report
Bermuda House of Assembly report on the front. This is all in an effor t with the key guidelines, so that when we are internationally assessed, when we go around the world talking about the AML, the KYC, we do not miss a beat! Every el ement of it is chronicled, it is evidenced in law, it is ev idenced with policy, it is evidenced with the requisite Act for the entire process throughout the duration of our FinTech development. It is an opportunity for Bermuda to be leaders. I understand the concerns, and the concerns [are] always managed and mitigated by the Acts of Parliament, by clear guidelines, and clear plans. The FinTech Development Fund [Act] 2018 allows ben efactors who are so committed to the ethos behind the DLT technology that they want to give money to a country, we are making a mechanism where that can be done in accordance with a clear plan in law. Thank you, Mr. Speaker.
The SpeakerThe SpeakerThank you, Minister. Does any other Honourable Member wish to speak? No other Member? I recognise the Honourable Member from constituency 2. Honourable Member Swan.
The SpeakerThe SpeakerYou are late on the batsman down there, you know? You almost got left out in the field that time.
Mr. Hubert (Kim) E. SwanYes, Mr. Speaker, just a few points as I make a contribution to the FinTech Development Fund Act 2018, because Members are often quick to sow the seeds of doubt. And we hear the narrative about full transparency. I would submit, Mr. Speaker, that this very Bill is the definite …
Yes, Mr. Speaker, just a few points as I make a contribution to the FinTech Development Fund Act 2018, because Members are often quick to sow the seeds of doubt. And we hear the narrative about full transparency. I would submit, Mr. Speaker, that this very Bill is the definite essence of transparency because it sets out to sort of put to rest some of the accusations and some of the undertones that you hear coming, especially from the other side. One thing that I did note that just here recently, KPMG had a summit in Bermuda in this very space. I think it is important to note one t he findings of a recent poll [and this] is only what I wanted to share, Mr. Speaker, with regard to the FinTech space. Ninety-six [per cent] of the respondents believed the FinTech industry will impact their lives in the next three years. [And] 13 per cent said, Yes, we have a FinTech strategy . So almost all of them believe that in the next three years this will have a tremendous i mpact on their life, but yet only 13 per cent have a FinTech strategy. Somewhat behind the leadership of the Government (I might add) in this very significant space. Encouragingly, 46 per cent have a strategy in the pipeline. A whopping 30 per cent have no strategy in place, and 10 per cent are unsure. So when you speak to . . . when persons try to cast aspersions on a Development Bill that is well i ntentioned in this space, I think they need to climb out of the 30 percentile or the 10 percentile that have no strategy in place or are unsure, and come up to the real speed of what is taking place in the industry, Mr. Speaker. Thank you.
The SpeakerThe SpeakerThank you, Honourable Member. Does . . . okay. We now recognise the Honourable Member from constituency 23. Honourable Member [Gordon] - Pamplin, you have the floor. Mrs. Patricia J. Gordon -Pamplin: Thank you, Mr. Speaker. Mr. Speak er, I just have one very brief observation, and that is that …
Thank you, Honourable Member. Does . . . okay. We now recognise the Honourable Member from constituency 23. Honourable Member [Gordon] - Pamplin, you have the floor. Mrs. Patricia J. Gordon -Pamplin: Thank you, Mr. Speaker. Mr. Speak er, I just have one very brief observation, and that is that it would be remiss of me to not comment on those statements made by the Honour able Member who just took his seat, from constitue ncy 2.
Mrs. Patricia J. Gordon -Pamplin—because I had really not intended to. But it seems to be a common theme and a thread that weaves that if we on this side of the aisle ask questions, they are deemed to be casting aspersions, or, you know, being negative and criticising. I believe, from what I …
—because I had really not intended to. But it seems to be a common theme and a thread that weaves that if we on this side of the aisle ask questions, they are deemed to be casting aspersions, or, you know, being negative and criticising. I believe, from what I heard coming from the Government benches, there really is only one person that I can say, hand on heart, that I can show an a ppreciation for who has actu ally admitted that, notwit hstanding that this was his initial approach towards what he was hearing coming from us, he had the opportunity to sit back and reflect. And in that reflection he said that he can appreciate the fact that when there are questions, questions need to be answered. So every question that is put is not a criticism; it is an observation. It is important that Members rec-ognise, number one, that we are equally as concerned about the reputational risk that may have inured to Bermuda in the absence of clarity. We cannot go out into the public arena and say that we can support . . . we cannot go into the public area and say that we support that which is being done if there are questions that we have that we have not put and that have not been answered. Thus far, the questions that have been put have been met with a response that we can live with even though there may be further questions. I think it is important to understand that this is our responsibi lity and I will not allow it to go unsaid that every time
Bermuda House of Assembly we open our mouths, it is not because we are critici sing that which the Government is doing. We recognise the importance of job creation. We recognise the i mportance of additional pillar development. And we cer-tainly have looked at what the Government has ad-vanced, in terms of this particular Bill with the FinTech Development Fund. So it would be, I guess, foolhardy, and irr esponsible of us as an Opposition if we just sat down and said, Whatever the Government is feeding us, we will accept the Pablum, if we did not ask the questions. If there were questions, we have to ask. We have to have answers because it is also very i mportant that the public is aware that we have looked into those is sues that are being advanced and that we can either support or question. And that I think is i mportant to be said, Mr. Speaker, and those are my contributions for this debate. Thank you.
The SpeakerThe SpeakerThank you, Honourable Member. Does any other Honourable Member wish to speak? [Inaudible interjections]
The SpeakerThe SpeakerStretching your legs, eh? [Inaudible interjections and laughter]
The SpeakerThe SpeakerHonourable Premier, your colleague was only stretching his legs, so I will acknowledge you. How is that? Thank you. Hon. E. David Burt: Thank you, very much, Mr. Speaker. Mr. Speaker, there were a number of co mments that we heard from both sides of the House. I would like …
Honourable Premier, your colleague was only stretching his legs, so I will acknowledge you. How is that? Thank you.
Hon. E. David Burt: Thank you, very much, Mr. Speaker. Mr. Speaker, there were a number of co mments that we heard from both sides of the House. I would like to, of course, thank the colleagues on this side of the House who spoke in suppor t of this initi ative, particularly the Member from constituency 21, the Honourable Member Commissiong, and the Honour able Minister Wayne Caines, and also the Honourable Member for constituency 2 who is happily not wearing his blue and blue today.
[Inaudible interjections and laughter ]
Hon. E. David Burt: What I would say, however, Mr. Speaker —
The SpeakerThe SpeakerWell, you know, it is that time of year. It is that time of year when you cannot be on the fence. Hon. E. David Burt: I can assure you, Honourable Member, that you will get no sympathy from the Speaker. [Laughter]
The SpeakerThe SpeakerShe is barking at the wrong tree that time. [Laughter] Hon. E. David Burt: You will get no sympathy from the Speaker. However, Mr. Speaker —
The SpeakerThe SpeakerYou know what? I can get a nice red and blue dress for you for next week. How is that? Hon. E. David Burt: Despite those on this side who have spoken in support, we get, it seems, the same conversation from the Members of the Opposition week in and …
You know what? I can get a nice red and blue dress for you for next week. How is that?
Hon. E. David Burt: Despite those on this side who have spoken in support, we get, it seems, the same conversation from the Members of the Opposition week in and week out and week in and week out on these matters. And the honourable lady who . . . sorry, the Honourable Mem ber who just took her seat just said something about the absence of clarity. Mr. Speaker, we have tabled legislation. We have tabled regul ations. The BMA [Bermuda Monetary Authority] has introduced legislation, regulations, that every Member in this House can read. I struggle to even understand in any way, shape, or form how there could be a lack of clarity. It is not as though we are saying these are ideas —
Mrs. Patricia J. Gordon -PamplinPoint of order, Mr. Speaker.
The SpeakerThe SpeakerPoint of order. POINT OF ORDER
Mrs. Patricia J. Gordon -PamplinThe Honourable Member I believe has misunderstood what I said. When I said that it was important for us to question in order to ensure that if there is lack of clarity, then we are able to get the facts, and I t hink that is our r esponsibility with …
The Honourable Member I believe has misunderstood what I said. When I said that it was important for us to question in order to ensure that if there is lack of clarity, then we are able to get the facts, and I t hink that is our r esponsibility with any legislation, not [just] this one, not what the BMA has done, but generally. Thank you.
Mr. Premier.
Hon. E. David BurtpremierMr. Speaker, again, I struggle to see how there is lack of clarity when this House has passed an ICO Bill, a Limited Liability Companies Bill, a Digital Asset Business Act, and now there is a fur-ther Bill before Parliament. It is not as though we are saying, This is …
Mr. Speaker, again, I struggle to see how there is lack of clarity when this House has passed an ICO Bill, a Limited Liability Companies Bill, a Digital Asset Business Act, and now there is a fur-ther Bill before Parliament. It is not as though we are saying, This is an idea which we may have. We have brought legis lation to this House. We have brought regulations to this House. And these things have been enacted. So as legislators one would have expected the other side to have read it so there is not that lack of clarity, Mr. Speaker.
2612 29 June 2018 Official Hansard Report
Bermuda House of Assembly Hon. Jeanne J. Atherden: Point of order, Mr. Speaker.
The SpeakerThe SpeakerYes, we will take point of order. POINT OF ORDER [Imputing improper motives ] Hon. Jeanne J. Atherden: I believe that the Member is imputing improper motives. But on top of that we have read this, and we are debating this particular piece of legislation here. And the questions that …
The SpeakerThe SpeakerPremi er. Just be mindful of the fact that the official Opposition has a role to play, and their role to play is to question and interrogate, if that is the word you want to use, any legislation that is before them to make sure that they are representing the …
Premi er. Just be mindful of the fact that the official Opposition has a role to play, and their role to play is to question and interrogate, if that is the word you want to use, any legislation that is before them to make sure that they are representing the i nterests of those that they represent. So, they are d oing their job. Thank you.
Hon. E. David Burt: Mr. Speaker, I understand because I sat on that side too. So I get it. I understand and I recognise it, Mr. Speaker. But the fact is that we cannot be talki ng about lack of clarity when there are briefings from technical officers, when there are briefs that are being shared, when there is the information which we are having, when there are presentations to the public, when there are all these different things . And the constant chorus which we hear that we need to be mindful about protecting our reputation when the world -renowned regulator of the Bermuda Monetary Authority is the one who is issuing these licences and making sure they are the supervisor of this, it just begs disbelief. I would hope, Mr. Speaker, that —
Hon. Jeanne J. Atherden: Point of order, Mr. Speaker.
The SpeakerThe SpeakerWe will take a point of order. [Inaudible interjections]
The SpeakerThe SpeakerYes. POINT OF ORDER [Misleading] Hon. Jeanne J. Atherden: The Honourable Member is misleading the House. We did not indicate with r espect to this particular legislation that we were talking about what the BMA said; we are talking about what happens within Government in terms of this convers ation. …
Mr. Premier.
Hon. E. David BurtpremierMr. Speaker, the Honourable Leader of the Opposition, if she wants to make that comment, should focus on the comments that her other Members on her side have made, because the former Premier went on about the reputation and go-ing back and forth to the same well of which she …
Mr. Speaker, the Honourable Leader of the Opposition, if she wants to make that comment, should focus on the comments that her other Members on her side have made, because the former Premier went on about the reputation and go-ing back and forth to the same well of which she has been all this time. And the point that I am making is that we understand the responsibilities of Government and that is the reason why on e very single step of the way we have made sure that the world- renowned re gulator in the BMA is responsible for overseeing this process. And that is the reason why we are here, Mr. Speaker. That is the reason why we have a Digital A sset Business Act, which was passed and co- authored by the Bermuda Monetary Authority. That is the reason why there is consultation on the statement of which I gave earlier regarding the banks, and that they are going to be involved with the Bermuda Monetary Authority. So this who le thing about, We have to pr otect our reputation, is getting tired, Mr. Speaker. And what is in addition to the fact that it is getting tired, Mr. Speaker, is this stuff is not new. Understand! This stuff is not new. We are discussing a very simple piece of legislation here today, Mr. Speaker, and the simple piece of legislation that we have is r emarkably similar to a Bill brought to this Honourable House in 2013 by the former Leader of the country.
An Hon. Member An Hon. MemberHere we go. Hon. E. David Burt: Remark ably similar.
The SpeakerThe SpeakerI think we have another point of order coming. Hon. Michael H. Dunkley: Yes, we do have a point of order, Mr. Speaker.
The SpeakerThe SpeakerWe will take your point of order. Yes. POINT OF ORDER [Misleading] Hon. Michael H. Dunkley : The Honourable Member is misleading the House. And he doth protest too much, because if you look at the Hansard you can see a couple of hours of questions asked by the other …
We will take your point of order. Yes.
POINT OF ORDER [Misleading]
Hon. Michael H. Dunkley : The Honourable Member is misleading the House. And he doth protest too much, because if you look at the Hansard you can see a couple of hours of questions asked by the other side, and we answered them all with respect, dignity, and courtesy. And if this Government can’t get used to answering questions, well, they are going to have a long tenure at being sitting on that side. When it comes to an end, they will be disappointed.
An Hon. Member An Hon. MemberWe will have a long tenure.
Mr. W. Lawrence ScottPoint of order, Mr. Speaker. Bermuda House of Assembly The Speaker: Ah! Ah! Ah! Point of order on . . . ?
The SpeakerThe SpeakerA point of order on a point of order? I . . . I . . . I think we are stretching it. POINT OF ORDER [Misleading]
Mr. W. Lawrence ScottHe is misleading the House because I remember when we were Opposition asking questions and the Members on this side did not answer them. We had to ask time and time again and they said, No, we are not answering t hem because we don’t have to answer to you.
The SpeakerThe SpeakerThank you, Honourable Member, for a little clarity. Mr. Premier, would you like to continue on? Hon. E. David Burt: Mr. Speaker —
The SpeakerThe SpeakerI know you are about to wrap up so that we can go to Committee, right? Hon. E. David Burt: —I remember that.
The SpeakerThe SpeakerWe will go to Committee. Hon. E. David Burt: But here is the thing, Mr. Speaker. Getting back to where I was, Mr. Speaker —
The SpeakerThe SpeakerYes. Hon. E. David Burt: —this is not new. So when we hear the questions that are coming from the Leader of the Opposition, talking about with sports clubs, what guidance will be used, [and] all the rest, how will this thing be formulated? Et cetera, et cetera, et cetera. …
Yes.
Hon. E. David Burt: —this is not new. So when we hear the questions that are coming from the Leader of the Opposition, talking about with sports clubs, what guidance will be used, [and] all the rest, how will this thing be formulated? Et cetera, et cetera, et cetera. Mr. Speaker, if they would l ook at the Proceeds of Crime Amendment Act 2013, which heralded the Cash Back for Communities Programme, which was part of the former Government’s plan, you will see . . . and I am reading from that particular Act, if you will allow me, Mr. Speaker. It gav e the Government permission to give money “ to further the programmes of a community -based organisation or sports club that are related to youth development, sport, area improv ement, community improvement or infrastructure . . .” and had the exact same defi nition of community - based organisations and/or sports clubs.
An Hon. Member An Hon. MemberAnd your point? Hon. E. David Burt: This is not new, Mr. Speaker. So it is quite remarkable that we are getting all of these questions when there is nothing new in this particular instance. Mr. Speaker, what I would have thought we would have heard on something like this, …
And your point?
Hon. E. David Burt: This is not new, Mr. Speaker. So it is quite remarkable that we are getting all of these questions when there is nothing new in this particular instance. Mr. Speaker, what I would have thought we would have heard on something like this, which should not have been controversial, is that Members of the Opposition would have said, This is a good thing to make sure there is transparency, to make sure that this is being set up so everyone can see what is taking place, and to make sure that we support it because we would like more opportunit ies for training and development to be given to Bermudians. That is what I thought we would have heard.
An Hon. Member An Hon. MemberI heard that. Hon. E. David Burt: Instead of asking questions . . . and the funniest part was when we hear the former Premier talk about the fact that . . . what was it? That, Oh, there is going to be a slew of people applying for these …
I heard that. Hon. E. David Burt: Instead of asking questions . . . and the funniest part was when we hear the former Premier talk about the fact that . . . what was it? That, Oh, there is going to be a slew of people applying for these grants. [Laughter]
Hon. E. David Burt: He should know well, Mr. Speaker, because remember what happened when we came into office. They promised a whol e lot of money from the Confiscated Assets Fund and spent it on overseas lawyers so there is no money to fulfil the promises which they had made, Mr. Speaker.
[Desk thumping]
Hon. E. David Burt: Now, Mr. Speaker, with all of that being said, the Bill before us is relatively simple. The Opposition Leader asked a question about whether or not there were any percentages that would be assigned to the certain aspects. The answer to that is no. What this is simply setting up is a mechanism to receive funds and a mechanism to make sure there is transparency in the disbursement of those funds, Mr. Speaker. We are going to use the money to develop the FinTech industry here in Bermuda to provide educ ation and training opportunities, and if there are other things t hat certain members of the community and these companies that are coming into the country want to make sure they have corporate social respo nsibility wish to give other items such as to support our seniors, to support other initiatives, to support communit y initiatives, we believe that this is the correct way to do it because the pledge we made was to make sure that we are transparent, the pledge we made was to make sure that we set a higher standard of governance, and that is what this is about, Mr. Speaker. So with those closing comments, I move the Bill entitled the FinTech Development Fund Act 2018 be read a second time and committed. 2614 29 June 2018 Official Hansard Report
Bermuda House of Assembly The Speaker: Thank you. Any objections to that? No objections to that. Mr. Deputy.
House in Committee at 2:41 pm
[Hon. Derrick V. Burgess, Sr., Chairman]
COMMITTEE ON BILL
FINTECH DEVELOPMENT FUND ACT 2018
The ChairmanChairmanGood afternoon. We are [now in Committee for consideration] of the second reading of the FinTech Development Fund Act 2018 . Mr. Premier, you have the floor. Hon. E. David Burt: Thank you, Mr. Chairman. Mr. Chairman, I would like to move clauses 1 through 7.
The ChairmanChairmanContinue. Hon. E. David Burt: Thank you very much, Mr. Chairman. Mr. Chairman, clause 1 is self -explanatory. Clause 2 defines “financial technology” or “FinTech” and other expressions for the purposes of this Act. Clause 3 establishes the FinTech Develo pment Fund (the “Fund”) to be managed by the Minister …
Continue.
Hon. E. David Burt: Thank you very much, Mr. Chairman. Mr. Chairman, clause 1 is self -explanatory. Clause 2 defines “financial technology” or “FinTech” and other expressions for the purposes of this Act. Clause 3 establishes the FinTech Develo pment Fund (the “Fund”) to be managed by the Minister of Finance in accordance with this Act and describes the funds to be paid into it. Clause 4 sets out the purpose for which the Fund may be used. The primary purpose of the Fund is to support educational programmes or initiatives providing financial technology training for Bermudians or other educational programmes or initiatives related to the development of financial technology business in Bermuda, the development of compliance and regul atory capacity related to financial technology business and the activity of any financial technology advisory bodies. The Minister of Finance, the Minister respon-sible for e -Commerce acting jointly may, after consul ting the Minister for Workforce Development, authorise payments be made out of the Fund for the primary purposes. The Minister of Finance, after consulting with the Ministers responsible for youth development health and sports may also authorise payments to be made out of the fund to support community -based organisations promoting youth development, healthcare, or the care of seniors in Bermuda, and sports clubs. Clause 5 contains the administrative prov isions in relation to the management of the Fund. Clause 6 requires annual reports on the Fund to be prepared by the Accountant General and Auditor General, submitted to the Minister of Finance and laid before the Legislature. Clause 7 provides the dissolution of the Fund if the Minister of Finance determines that there is no object to which the Fund could be lawfully used in which case t he funds will be paid into the Consolidated Fund.
The ChairmanChairmanThank you. Any further speakers? The Chair recognises the Leader of the O pposition, Ms. Atherden. You have the floor. Hon. Jeanne J. Atherden: I have a question with r espect to clause 6, I think it is.
The ChairmanChairmanSix? Hon. Jeanne J. Atherden: It says, “The Accountant General shall prepare and submit to the Minister, wit hin six months of the end of the [Fund’s financial] year, an annual report on the operation of the Fund contai ning— (a) the financial statements of the Fund during the preceding …
Six?
Hon. Jeanne J. Atherden: It says, “The Accountant General shall prepare and submit to the Minister, wit hin six months of the end of the [Fund’s financial] year, an annual report on the operation of the Fund contai ning— (a) the financial statements of the Fund during the preceding year; and (b) such other information as the Minister may direct in writing.” I am just going to question whether the Mini ster might consider . . . because this is so important in terms of making sure that the monies are spent on training, it is making sure that, especially as it relates to the MOU, that we have certain things that we have to achieve with respect to people being trained in terms of the FinTech technology, et cetera, that per-haps some of the additional information that the Mini ster might direct to have in the report is information as to the . . . not just who it was given to, but some details in terms of how that money was allocated in terms of whether it was terms of a RFP [ request for proposal ], or whether there was some other further detail rather than just a . . . the fact that it went to “Company A.” And when I say RFP, in terms of it is supposed to be on training, some of it is supposed to be for other initiatives which are going to developing the FinTech. We have been talking about compliance and a number of other things. So I just think that perhaps some details in the statement in terms of what it was spent on so that the public and the people who gave the money would be able to feel comfortable that it went to the particular items that . . . maybe he would consider that this would be worth including in terms of the report.
The ChairmanChairmanAny further speakers? The Chair recognises the Deputy Leader of the Opposition, Ms. Leah Scott. You have the floor, Honourable Member.
Ms. Leah K. ScottThank you, Mr. Chairman. Bermuda House of Assembly I understand the reason for the Fund and the need for the Fund. I guess the confusion comes from maybe the name of the Fund, because it indicates that it is just going to be for FinTech development. So I guess that …
Thank you, Mr. Chairman.
Bermuda House of Assembly I understand the reason for the Fund and the need for the Fund. I guess the confusion comes from maybe the name of the Fund, because it indicates that it is just going to be for FinTech development. So I guess that is where the confusion lies, because peo-ple are going to think that Mrs. Bermuda or Mr. Smith is going to say, Well, this is a FinTech Fund. If all the money for that Fund is going for the educati on for Fintech, why is that Fund being utilised for other community -based activities? So perhaps if it was the “FinTech and Other Fund,” or there was a sub- fund under the FinTech Fund, where funds could also be used for community - based activities, it might bring some clarity around it. The other thing is that if this Fund is going to be used in the same way as a charity, usually if you have a charity or a charitable organisation, when that organisation is wound up any assets or proceeds that are in that charitable organisation are then transferred to a like organisation. But these monies are going to be transferred to the Consolidated Fund. And I am just wondering if you could give me the rationale for that. As opposed to having the monies go to another sim ilar type fund or organisation. The other thing is on [clause] 3(2), which says, “The Minister shall pay into the Fund all monies received by the Government for the specific purpose of supporting financial technology education for Bermudians and related m onies received for the purposes, including supporting community -based initiatives.” So assuming that, for example, the Bermuda College is a government entity, if somebody wants to take a computer course at the Bermuda College, are the monies received for that course going into this Fund? And I know that you might think that it is a r idiculous question, but it is a valid question based on the wording of the clause. I think those are the only questions that I actually have. My position is that I am not adverse to having the money used for purposes other than FinTech, but I just think that it needs to be clear, whether it is in the naming of the fund or whether there is a sub- fund, because you say that it is primar ily going to be used for these purposes and other things. How do you monitor that and how do you regulate that? Thank you, Mr. Chairman.
The ChairmanChairmanMr. Premier, do you want to answer that before . . . oh, you want to take the next speaker? The Chair recognises the Honourable Member Pat Gordon- Pamplin. You have the floor, Honourable Member.
Mrs. Patricia J. Gordon -PamplinThank you, Mr. Chairman. Mr. Chairman, understanding that the money coming into the Fund that we . . . this is a special Fund which is going to be ring- fenced, effectively, for the purposes which have been articulated and out-lined, and given that we have got this new blockchain …
Thank you, Mr. Chairman. Mr. Chairman, understanding that the money coming into the Fund that we . . . this is a special Fund which is going to be ring- fenced, effectively, for the purposes which have been articulated and out-lined, and given that we have got this new blockchain technology where every transaction can be actually catalogued, and it is there in perpetuity in terms of the operation of how blockchain technology works, so that there is a trail, we should be able to relatively easily determine the money that is being infused into the Fund. I recognise there could conceivably also be other monies being paid into the fund which may be authorised by the Legislature from time to time as Government’s contribution to the Fund. But in the dissolution of the Fund it would seem to me that if I am giving, and especially if we are talking about some of the money, some of values that we are speaking of . . . I am going to put $10 million into the fund. And if according to the dissolution clause, that there was no cause for which the Fund could be deemed to be expended and therefore the money will then go into the Consolidated Fund, I am not sure that this is actually satisfying the conditions under which funds were being put in in the first place. So in other words, if I, as an outside entity, one of the FinTech companies, I am going to give $10 million, it is going to go into this Fund, and then somewhere down the road they have decided that we do not have the necessary training courses, or whatever, so the money cannot be spent. I would not want my $10 million going into a Consolidated Fund, if you understand what I mean.
Mrs. Patricia J. Gordon -PamplinI am saying I do not want it to go into a Consolidated Fund; I would want to think that the money coming in from the benefactors would somehow be able to go back to the benefactors, as opposed to going into the Consolidated Fund. That was j ust my …
The ChairmanChairmanMr. Premier. Hon. E. David Burt: Thank you, Mr. Chairman. Mr. Chairman, I think the initial comments . . . well, there were a few comments that were similar. And the few comments that were similar were, Why will the dissolution of the Fund go to the Consolidated Fund? This …
Mr. Premier.
Hon. E. David Burt: Thank you, Mr. Chairman. Mr. Chairman, I think the initial comments . . . well, there were a few comments that were similar. And the few comments that were similar were, Why will the dissolution of the Fund go to the Consolidated Fund? This is pretty standard, as is the administration of the other funds that the government has. It is just the standard language. This is, as I said in the general debate, this is nothing new and this is what is done for various funds which are established underneath the Public Funds Act. So that is the nature of these funds. The next question was, I think, the issue of . . . was raised by the Honourable Deputy Leader of the Opposition who asked t he question as to whether or not we have appropriately named the Fund. The primary purpose of the Fund is the FinTech Development Fund. However, there might be other things that it may be used for, and that is the reason why you present flexibility inside of a piece of legislation to en2616 29 June 2018 Official Hansard Report
Bermuda House of Assembly able there to be flexibility so you do not have to come here and change the law every time you may want to do something different. I think there was a question that was raised by the Leader of the Opposition as well in regard to questions about disbursement of funds or all the rest. These are funds which are governed under the Public Funds Act. There is complete transparency in them. Questions can be asked and answered, whether it be the Public Accounts Committee, and/or anything else, as they are funds in the control of the Government which are established. And for the reporting requir ement s, they will be happy to be as transparent as possible. And if Members do not believe that the reports which may come under this Fund are not transparent, they are welcome to ask any additional questions. They are welcome to ask parliamentary questions at any point in time [regarding] the disbursements which may have been made from the Fund, the contributions which may have been received [into] the Fund. But I am sure and certain that it will probably be public knowledge before they have to ask the questions, as it will be in the public sphere. That is the plan. This is nothing . . . I want to say, this is nothing new; this is nothing that is going to be earth- shattering. This is just providing a mechanism to ensure that these things will be handled in a transparent fashion. The clauses that are here are standard to other funds that have been established and set up, whether it was the Proceeds of Crime Act, [or] the Confiscated Assets Funds, or other similar funds. And so from that perspective I recognise the questions, but things are drafted in a way to allow flexibility. In addition to that, the reporter requirements are standard and if ther e are any additional questions that would like to be asked after those reports are made, Honourable Members are welcome to ask those particular questions.
The ChairmanChairmanAny further speakers? The Chair recognises the Honourable Member, Michael Dunkley. Hon. Michael H. Dunkley: Thank you, Mr. Chairman. Mr. Chairman, I appreciate the Honourable Premier’s comment in regard to accountability, but back to a specific question. How will someone actually apply for monies? What are the guidelines? For example, …
Any further speakers? The Chair recognises the Honourable Member, Michael Dunkley. Hon. Michael H. Dunkley: Thank you, Mr. Chairman. Mr. Chairman, I appreciate the Honourable Premier’s comment in regard to accountability, but back to a specific question. How will someone actually apply for monies? What are the guidelines? For example, grant funding, there are certain forms to follow. So if people hear about this debate today, and money is in the Fund, what do entities, organisations, whoe ver, how do they actually apply for the funding, or are there regulations to follow?
The ChairmanChairmanAny further . . . the Chair recognises the Honourable Member, Leah Scott.
Ms. Leah K. ScottThank you, Mr. Chairman. It is not a criticism of the naming of the Fund, I am just thinking that people are not going to know what the benefits of this Fund ar e besides FinTech education. So, that is the only reason I am suggesting that you have a …
Thank you, Mr. Chairman. It is not a criticism of the naming of the Fund, I am just thinking that people are not going to know what the benefits of this Fund ar e besides FinTech education. So, that is the only reason I am suggesting that you have a name that is all -inclusive. I understand that the legislation has to be flexible enough so the people should be able to have . . . so you do not have to come back and we do not have to change the legislation. But I think that in addition to this legislation, there has to be some sort of educ ational process so that people understand, Yes, this is called the FinTech Development Fund, but funds can be available for other things. And it has to be contin uous. It has to be ongoing because people do not always remember. So, if you want to call it the FinTech Development Fund, that’s fine. But there should be a pr ocess where people understand what the funds are available for, what uses they can have, and as my honourable colleague has said, how do they have access to those monies? Thank you, Mr. Chairman.
The ChairmanChairmanAny further speakers? The Chair recognises the Leader of the O pposition, Ms. Atherden. Hon. Jeanne J. Atherden: Mr. Chairman, I just want to make clarity so that the Premier, the Minister of F inance, understands clearly what I am saying. I know totally —and I am going to use …
Any further speakers? The Chair recognises the Leader of the O pposition, Ms. Atherden.
Hon. Jeanne J. Atherden: Mr. Chairman, I just want to make clarity so that the Premier, the Minister of F inance, understands clearly what I am saying. I know totally —and I am going to use the $10 million that was–
Hon. E. David Burt: What clause are you talking to?
Hon. Jeanne J. Atherden: We are now talking about the Purpose of the Fund, clause 4. Hon. E. David Burt: Okay.
Hon. Jeanne J. Atherden: Okay. So there is an indication here that . . . there is the purpose of the Fund and there is the indication —
[Inaudible interjection]
Hon. Jeanne J. Atherden: This is on clause [4(2)]. “The Minister and the Minister responsible for eCommerce acting jointly may, after consulting the Mi nister responsible for workforce development, authorise payments to be made out of the Fund for the purpose listed in subsection (1).” The reason I am asking the question about how the authorisation is given, bearing in mind that especially with respect to the MOUs, monies are coming in with, I believe, an expectation from the persons who s ign the MOUs that they would be given out specifically to be used for those purposes, and I just wo nder how the Minister and the two Ministers make sure
Bermuda House of Assembly that this authorisation ties back to the expectation? Because we talked about funds being wound- up, and if they were not used for a purpose whether there would be any recall that those persons could have against the monies that they signed for in the MOU?
The ChairmanChairmanAny further speakers? Mr. Premier, you have the floor. Hon. E. David Burt: Thank you v ery much, Mr. Chairman. Mr. Chairman, the first question from the first Honourable Member I am not entirely certain which clause he was referring to, but the fact is that there is no application …
Any further speakers? Mr. Premier, you have the floor. Hon. E. David Burt: Thank you v ery much, Mr. Chairman. Mr. Chairman, the first question from the first Honourable Member I am not entirely certain which clause he was referring to, but the fact is that there is no application process. The primary purpose of this Fund, as was stated, was to support educational pr ogrammes or initiatives. And most of those would be run from the Government in our FinTech Unit, which is going to be administering these things. Whether it is the things that are happening with the Department of Education and Workforce Development with pr ogrammes with the Bermuda College or in the comm unity, or whether or not there are other things that will be led by the Minister of National Security who has responsibility for ICT Policy and Innovation along those lines. And so just in the exact same way there is no proposed application process because by and large, the primary purpose of these Funds . . . I understand that people are focused on this whole issue of community organisations. As is stated in clause 4, section (1), the primary purpose of this fund is for those items and that is what the main purpose of these Funds will be used for. In regard to the question from the Honourable Opposition Leader, talking about clause 4, section (2), speaking about how it will be det ermined. It will be determined when we talk to each other and figure out what are the best uses. But right now we recognise that there is a need to make sure that we train Bermudians, increase their skills, make sure that there are programming classes tha t are provided, make sure there are regul atory compliance classes provided, and make sure that we can re- skill people to be a part of this industry as it goes forward. That is the primary purpose of this Fund. That is why we are setting it up to ensure that there is transparency in this process and to make sure that [when] resources are given, we can ensure that those resources go to where they are most needed.
The ChairmanChairmanThe Chair recognises the Honourable Member Pat Gordon- Pamplin. You have the floor .
Mrs. Patricia J. Gordon -PamplinThank you, Mr. Chairman. Mr. Chairman, the Premier indicated that — Hon. E. David Burt: Clause?
Mrs. Patricia J. Gordon -PamplinThis is clause 4, for the Purpose of the Fund. The Premier indicated that he was speaking to most of the programmes are going to be gover nment run; hence they will know what they are meant for. But there is this matter of subsection (3) in which we speak …
This is clause 4, for the Purpose of the Fund. The Premier indicated that he was speaking to most of the programmes are going to be gover nment run; hence they will know what they are meant for. But there is this matter of subsection (3) in which we speak about the community -based organisations and sports clubs. Those are not entities t hat will be run by the government, just by virtue of the nature of what they are. So, clearly, I think what we are trying to get clarity for is whether there is some kind of process, notwithstanding that this is not the primary purpose, it is a secondary purpose. But it is a purpose that is authorised under this legislation. So if, you know, Hami lton Parish Workman’s Club wanted to make an appl ication to the Fund, or wanted to be able to receive money out of this Fund, clearly, there must be an application process because it is not government run. For clarity, the question is, Can those organisations, those community -based organisations, know what would be required on a step- by-step basis in order to be able to access any money that might be deemed to be a ble to be appropriated to them out of the Fund? There must be a process for them to follow, you know, different than the Government. If the Government has determined that the education part of it, it is an education programme, and therefore the people who are coming into the education programme, that is clear and defined. But subsection (3) does not fit into what the Premier indicated as being a government -run programme and there is nothing here that would kind of clarify that. So we were just looking for a little bit of clarity in respect of that. Thank you.
The ChairmanChairmanThe Chair recognises the Leader of the Opposition, Ms. Atherden. You have the floor, Ms. Atherden. Hon. Jeanne J. Atherden: Yes, and this is in clause 5, in terms of Management of the Fund. This is [subsection] (2), “The Minister may direct the Accountant General to pay out of this …
The Chair recognises the Leader of the Opposition, Ms. Atherden. You have the floor, Ms. Atherden.
Hon. Jeanne J. Atherden: Yes, and this is in clause 5, in terms of Management of the Fund. This is [subsection] (2), “The Minister may direct the Accountant General to pay out of this Fund such sums of money to such entities as may be authorised in accordance with section 4.” I just want to ask if the Minister can indicate, because he sai d earlier that there is no percentage in terms of how the amount of money would be allocated, especially to those clauses related to training, et cetera, whether there are any expectations . . . and from the persons who have given the money, any expectation as to how much of that money would go t owards the training element, or is that just a negotiating thing so that when he authorises the payment to the Accountant General, it is just based on the decisions that the two Ministers have made? Not havi ng any recourse to the person who originally gave the money.
2618 29 June 2018 Official Hansard Report
Bermuda House of Assembly The Chairman: Any further speakers?
Mr. Premier.
Hon. E. David BurtpremierThank you very much, Mr. Chairman. In regard to the first question in clause 4, [sub]section (3), the question was asked about appl ication process, et cetera. No, there is none defined at this time. The purpose of this fund, the primary purpose of this fund is not . . …
Thank you very much, Mr. Chairman. In regard to the first question in clause 4, [sub]section (3), the question was asked about appl ication process, et cetera. No, there is none defined at this time. The purpose of this fund, the primary purpose of this fund is not . . . there may be occasion where there may be other community needs which may be able to be met, which we know h appens from time to time, [and] exactly which took place under the former Government with matters that were with the Confiscated Assets Fund. But the primary purpose of this fund is, as stated, to provide for educational opportunities. Regarding the second question from the Leader of the Opposition, clause 5, [sub]section (2), “The Minister may direct the Accountant General to pay out of this fund such sums of money to such ent ities as may be authorised in accordance with section 4.” I think that this clause is relatively self -explanatory, and I am not entirely certain what more clarity that I can make on that. [Clause] 4 states how payments can be authorised and clause 5 authorises the Minister of F inance, who is the Minister referred to in this fund, to authorise the payments which have been made in accordance with the consultation provisions which have been stated in [clause] 4.
The ChairmanChairmanAny further speakers? Mr. Dunkley, Honourable Member. Hon. Michael H. Dunkley: Thank you, Mr. Chairman. I appreciate the answer from the Honourable Minister, and I believe I got it quoted right that the Honourable Minister said that there is no application process at this time. I would suggest that it …
Any further speakers? Mr. Dunkley, Honourable Member.
Hon. Michael H. Dunkley: Thank you, Mr. Chairman. I appreciate the answer from the Honourable Minister, and I believe I got it quoted right that the Honourable Minister said that there is no application process at this time. I would suggest that it would be very prudent to do something like that for the s imple reason that there has to be guidelines that all people can follow so there is a level playing field—
An Hon. Member An Hon. MemberDon’t worry. [Inaudible interjections] Hon. Michael H. Dunkley: —as we move forward. The application process is critical because — [Inaudible interjections] Hon. Michael H. Dunkley: We are just trying to bring a point forward. And I hear the concerns from the Government’s side, but, Mr. Chairman, if there is no …
Don’t worry. [Inaudible interjections]
Hon. Michael H. Dunkley: —as we move forward. The application process is critical because —
[Inaudible interjections]
Hon. Michael H. Dunkley: We are just trying to bring a point forward. And I hear the concerns from the Government’s side, but, Mr. Chairman, if there is no application process, it will leave the Government open for questions on how it was awarded. [Inaudible interjections]
Hon. Michael H. Dunkley: It will leave the Gover nment open. So the Honourable Members over there can criticise. We are trying to offer —
[Inaudible interjections]
Hon. Michael H. Dunkley: I hear the Hon ourable Mi nister say, Where were the guidelines?
The ChairmanChairmanTalk to me. Hon. Michael H. Dunkley: I hear the Honourable Member, but we are trying to offer some constructive comment that it would be prudent to have an applic ation process to make sure that it can be all done in the spirit of accountability and transparency and allow …
Talk to me.
Hon. Michael H. Dunkley: I hear the Honourable Member, but we are trying to offer some constructive comment that it would be prudent to have an applic ation process to make sure that it can be all done in the spirit of accountability and transparency and allow people to understand what they have to do to meet those requirements. It’s simple!
Mr. Premier.
Hon. E. David BurtpremierMr. Chairman, I recognise the items which were stated from the other side and we will take those under advisement. But I think that people are focused on a subsection of this without focus-ing on the main part of this, and the main part of this is to provi de …
Mr. Chairman, I recognise the items which were stated from the other side and we will take those under advisement. But I think that people are focused on a subsection of this without focus-ing on the main part of this, and the main part of this is to provi de educational training, up- skilling opportunities, and to make sure that we can provide those particular opportunities to increase the amount of educ ation that is inside of the community to have more Bermudians trained in the area of FinTech development.
The ChairmanChairmanAny further speakers? Mr. Premier, you want to move this? Hon. E. David Burt: Thank you, Mr. Chairman. Mr. Chairman, I move that clauses 1 through 7 be approved.
The ChairmanChairmanYou want to move the preamble? [Inaudible interjections]
The ChairmanChairmanYes, I’m sorry. Any objections to clauses 1 through 7 being approved? There appear to be none. Approved. [Motion carried: Clauses 1 through 7 passed.] Hon. E. David Burt: Thank you very much, Mr. Chairman. I move that the preamble be approved. Bermuda House of Assembly The Chairman: It has …
Yes, I’m sorry. Any objections to clauses 1 through 7 being approved? There appear to be none. Approved. [Motion carried: Clauses 1 through 7 passed.]
Hon. E. David Burt: Thank you very much, Mr. Chairman. I move that the preamble be approved.
Bermuda House of Assembly The Chairman: It has been moved that the preamble be approved. Any objections to the preamble being approved? There appear to be none. Approved.
Hon. E. David Burt: Thank you, Mr. Chairman. I move that the Bill be reported to the House as printed.
The ChairmanChairmanIt has been moved that the Bill be reported to the House as printed. Are there any objec-tions to that? There appear to be none. Approved. The Bill will be reported to the House. [Motion carried: The FinTech Development Fund Act 2018 was considered by a Committee of the whole …
It has been moved that the Bill be reported to the House as printed. Are there any objec-tions to that? There appear to be none. Approved. The Bill will be reported to the House. [Motion carried: The FinTech Development Fund Act 2018 was considered by a Committee of the whole House and passed without amendment.]
House resumed at 3:04 pm
[Hon. Dennis P. Lister, Jr., Speaker, in the Chair]
REPORT OF COMMITTEE
FINTECH DEVELOPMENT FUND ACT 2018
The SpeakerThe SpeakerMembers, are there any objections to the second reading of the FinTech Development Fund Act 2018 being reported to the House as printed? All in favour? AYES .
The SpeakerThe SpeakerAny opposed? None opposed. It has been reported. And it now brings us to . . . m y understanding, this brings us to a close of the Orders of today. Would the Ministers like to do their third rea dings? SUSPENSION OF STANDING ORDER 21 Hon. E. David Burt: …
Any opposed? None opposed. It has been reported. And it now brings us to . . . m y understanding, this brings us to a close of the Orders of today. Would the Ministers like to do their third rea dings?
SUSPENSION OF STANDING ORDER 21 Hon. E. David Burt: Thank you very much, Mr. Speaker. Mr. Speaker, I move that Standing Order 21 be suspended to enable me to move that the Bill ent itled the Internal Audit Amendment Act 2018 be now read a third time by its title only.
The SpeakerThe SpeakerAny objections? No objections. Continue on, Minister. [Motion carried: Standing Order 21 suspended.] BILL THIRD READING INTERNAL AUDIT AMENDMENT ACT 2018 Hon. E. David Burt: Thank you very much, Mr. Speaker. Mr. Speaker, I move that the Bill entitled the Internal Audit Amendment Act 2018 be now read a third …
Any objections? No objections. Continue on, Minister. [Motion carried: Standing Order 21 suspended.] BILL
THIRD READING
INTERNAL AUDIT AMENDMENT ACT 2018
Hon. E. David Burt: Thank you very much, Mr. Speaker. Mr. Speaker, I move that the Bill entitled the Internal Audit Amendment Act 2018 be now read a third time by its title only and passed.
The Spe aker: Thank you. Any objections?
[Motion carried: The Internal Audit Amendment Act 2018 was read a third time and passed.]
The SpeakerThe SpeakerContinue on. Hon. E. David Burt: Thank you, Mr. Speaker.
The SpeakerThe SpeakerYes. SUSPENSION OF STANDING ORDER 21 Hon. E. David Burt: Thank you very much, Mr. Speaker. Mr. Speaker, I move that Standing Order 21 be suspended to enable me to move that the Bill ent itled the FinTech Development Fund Act 2018 be now read a third time by its …
The SpeakerThe SpeakerContinue. [Motion carried: Standing Order 21 suspended.] BILL THIRD READING FINTECH DEVELOPMENT FUND ACT 2018 Hon. E. David Burt: Thank you very much, Mr. Speaker. Mr. Speaker, I move that the Bill entitled the FinTech Development Fund Act 2018 be now read a third time by its title only and …
The SpeakerThe SpeakerAny objections? No objections. So passed. [Motion carried: The FinTech Development Fund Act 2018 was read a third time and passed.] 2620 29 June 2018 Official Hansard Report Bermuda House of Assembly ADJOURNMENT Hon. E. David Burt: Thank you very much, Mr. Speaker. Mr. Speaker, I believe that this brings …
Any objections? No objections. So passed.
[Motion carried: The FinTech Development Fund Act 2018 was read a third time and passed.]
2620 29 June 2018 Official Hansard Report
Bermuda House of Assembly ADJOURNMENT
Hon. E. David Burt: Thank you very much, Mr. Speaker. Mr. Speaker, I believe that this brings us to the final item on our agenda. I move that this Honourable House do adjourn until, I believe it is Friday, July 6th.
The SpeakerThe SpeakerCorrect. Any Member wish to speak to that? I recognise the Honourable Member, Mr. Commissiong. I understand that you moved a little slow last week, so you are quicker this week. [Laughter and inaudible interjections ]
Mr. Rolfe CommissiongMr. Speaker, that did bring back some memories fr om pre -2017, I might add — [Laughter]
Mr. Rolfe Commissiong—with the former occupant of that seat that you now hold. And you do so quite adequately and competently, I might add.
The SpeakerThe SpeakerWell, don’t push it too far now. [Laughter] RACIAL BIAS —LACK OF RACIAL DIVERSITY IN BERMUDA’S WORKFORCE
Mr. Rolfe CommissiongMr. Speaker, on June 14 th, 2018, at the Captive Conference which had amongst its participants many from overseas, the movers and shakers within the captive insurance industry. Mr. Jonathan Reiss — Some Hon. Member s: R-e-i-s-s [like Rice].
Mr. Rolfe CommissiongIf I say “ Rice”, they will say “Reece”. Okay, it [sounds] like “ Rice.” [Inaudible interjections]
Mr. Rolfe CommissiongMr. Jonathan Reiss, as featured in the Royal Gazette had the following to say, Mr. Speaker, with your indulgence. “On the lack of racial diversity in Bermuda’s insurance industry, he argued that the reasons were complex, ranging from education to recruitment met hods and deep- rooted, unconscious bias. “He added: …
Mr. Jonathan Reiss, as featured in the Royal Gazette had the following to say, Mr. Speaker, with your indulgence. “On the lack of racial diversity in Bermuda’s insurance industry, he argued that the reasons were complex, ranging from education to recruitment met hods and deep- rooted, unconscious bias. “He added: ‘The point I’m making is that the reason there aren’t more black Bermudians in our i ndustry, particularly at senior levels, is much more complicated than outright discrimination. ’” [He added, Mr. Speaker] “‘ It’s the legacy of white supremacy, slavery, and how this legacy continues to permeate our institutions despite the monumental shift in att itudes and intentions. ’ “He added: ‘I believe we’re at an inflection point. Attitudes have changed for the better, but, as I’ve explained, the current rate of progress is not good enough. “‘More and more organisations are realising that they must work harder at diversity and inclusion and, frankly, be much more fearless in changing the status quo. ’” The question that needs to be posed, Mr. Speaker, is, How did we get here after a half -century since the advent of what we now call the New Bermuda in the sense that I posit that this New Bermuda we are talking about is the one that was ushered in in the late ’60s, in 1968— and we have been talking about this for the last few weeks —with the adoption of the Constitutional Order from the UK Parliament and the introduction of universal adult suffrage. Mr. Speaker, in my “Part 1,” some weeks ago, I talked about how the advent of democratisation in Bermuda fought for by the likes of Dr. Roosevelt Brown, [aka] Dr. Kamarakafego, and others posed a major dilemma to white Bermuda and the elite that governed Bermuda. The challenge was: How could they ride the wave of democratisation, whi le at the same time maintaining their hegemony (which means dominance) and privilege within the society? Certainly, to put a regional spin on it, we also know that in the Caribbean, particularly in the Bahamas and Barbados, they, the white settler populat ions in those islands, respectively, because they had the two largest sets of white populations in our region (other than Bermuda), attempted to do the same thing which was to co- op this democratisation movement by forming what they termed were “conservati ve” parties, such as the UBP. But they were unable to effectuate the success the UBP had because the size of those countries’ respective white populations were far smaller. So, as I said, they would have had to, in Barbados and the Bahamas, get a minimum of 40- plus per cent of the black vote to have any remote possibi lity of achieving what the UPB were able to do here with a far larger white population. And that, as I said, was critical. That is why immigration policies played such a key role in their abil ity to ride that wave of democratisation. The number of white migrants that flooded i nto the country after 1960, or from the late ’50s up until the 1980s, is testimony to that effort. In fact, between 1960 and 1970 the rates of migration or immigration to the country went up by hundreds of per cent, overwhelming 80 per cent to 90 per cent of those persons were white, usually Anglo migrants, to the country as, again, the old white elite in the country sought to maintain their hegemony over this society. So, Mr. Speaker, it should come as no surprise that the continued socio- economic marginalis aBermuda House of Assembly tion of black Bermudians, as evidenced by the data — not by supposition, not by conjecture, not by anecd otal evidence, but by the data—is still real and still b efore us . Mr. Speaker, how, for example, do we see a Bermuda which largely has had a dominant civil service comprised overwhelmingly of black Bermudians over the last 40 years, whilst in the private sector black Bermudians at all levels, particularly at the hig her levels, play a subordinate and/or marginal role? It is no secret, it is no surprise that these outcomes would still bedevil us today in terms of racial disparity, notwithstanding the claims that success has been made, some progress has been achieved. The statistics belie that assertion, Mr. Speaker, and do so graphically. Mr. Speaker, you will note that at that amphitheatre at the Fairmont Southampton resort, after Mr. Reiss had offered his comments to allow ovation, Malcolm Butterfield, the chief executive officer of the Bermuda Insurance Institute, took the microphone, and I am quoting, Mr. Speaker, “‘ I’ve lived in Bermuda all my life and listened to many speeches. From my perspective, you have delivered’” (speaking of Mr. Reiss’s comments) “‘one of the most courageous speeches on diversity and inclusion that I have ever heard. You deserve a standing ovation for what you have said today. ’” Those were the comments of Malcolm Butterfield, well known within Bermuda’s accounting profession. But, Mr. S peaker, Malcolm Butterfield must be deaf, blind —and I will let you fill in the rest —because how many Bermudians of high esteem from Dr. Eva Hodgson, to so many others, Cyril Packwood, go down the list, Ira Philip, people still alive today who spoke about t he same disparities . . . did Mr. Malcolm Butterfield go public and say, Dr. Eva Hodgson has delivered a major service to this country . . . at a time when she was being woefully demonised in this country without surcease, without any relief? I did not hear Mr. Malcom Butterfield’s voice then.
[Inaudible interjections]
Mr. Rolfe CommissiongBut he is not alone. He felt that it was now comfortable to put his feet in water, because you had a very powerful white Bermudian who has said what many of us have been saying for so, so long.
An Hon. Member An Hon. MemberFor 30 years.
Mr. Rolfe CommissiongThis too has been the problem, Mr. Speaker. I will never go as far as saying that, as to use a common Bermudian phrase, That our own fleas bite the hardest. I reject tha t. I reject that! What we saw from Mr. Malcolm Butterfield is symptomatic of a deeper …
This too has been the problem, Mr. Speaker. I will never go as far as saying that, as to use a common Bermudian phrase, That our own fleas bite the hardest. I reject tha t. I reject that! What we saw from Mr. Malcolm Butterfield is symptomatic of a deeper problem and the deeper problem goes back to what Reiss talked, the impact of white supremacy on Bermudian life and how it has short -changed black hopes and aspirations on a multigenerational basis, even at the same time, we were told that progress was being made. We have been hearing that since the 1970s. I would contend, Mr. Speaker, that the biggest losers to our inability to take control of our destiny in this country and to achieve racial equity in this country, back in the 1970s and 1980s, at the very least, was our generation. Our parents’ generation did all the work they could do. They laid the ground . . . they established that groundwork. They are the ones who fought for the democratisation of the society, how civil and political rights, the rise of labour reforms, the adoption of labour as being part and parcel of the Bermudian mainstream that helped to bring that le verage for poor black Bermudians in this societ y, within the established white dominated work places. Let’s go through a quick litany, Mr. Speaker, from the 2016 Census of what we have not yet ac-complished, or, put it this way, how reflective this is of the still second- and third -class citizenship am ongst too many black Bermudians in this country. So, for example, Mr. Speaker, blacks had the largest decrease, at 13 per cent, as the income levels of both black males and females experience double - digit percentage declines over the period. Black males experienced the largest decrease in median income of 13 per cent, $7,281; followed by black females, of 12 per cent, corresponding to $6,569. Unemployment rates (as mentioned the other day or the other week) remained at 9 per cent for black Bermudians and only 3 per cent for whites. Most economists would tell you, including people like Curtis Dickinson, and many ot hers, would tell you that at 3 per cent, that represents full employment. Anything under 5 per cent is desi gnated by economists as representing full employment. Mr. Speaker, I continue. The income levels of white males exceeded those of black males by 70 per cent and was 17 per cent higher than the income level of white females. So, Mr. Speaker, that is only part of this case to be made for why not only do we need i nclusion into that diversity, we also need to put in place a programme that will directly lead to black economic empowerment in the country, in a real way. (And I will get to that in a second.) Excuse me, Mr. Speaker.
[Pause]
Mr. Rolfe CommissiongThe same census data, for example, reveals . . . and this is really heart breaking. I know that the Member from constituency 2, last week, the Honourable Kim Swan, highlighted this thing quite rightly. When it came around to those Bermudians without health insurance, between 2010 and 2016 the …
The same census data, for example, reveals . . . and this is really heart breaking. I know that the Member from constituency 2, last week, the Honourable Kim Swan, highlighted this thing quite rightly. When it came around to those Bermudians without health insurance, between 2010 and 2016 the rate for black Bermudians had approx imately doubled. In 2010, for example, there were 2,974 . . . no, let me restate that. In 2010, [there were] 2622 29 June 2018 Official Hansard Report
Bermuda House of Assembly 2,480 black Bermudians who did not have health i nsurance. I n only six short years, Mr. Speaker, that number had gone up to 4,085 Bermudians who did not have health insurance. And when I say “Bermudians,” I am talking about black Bermudians here, Mr. Speaker. So the level of social economic insecurity has only cont inued to increase in Bermuda. The racial disparity gaps have widened, and it is something that we can no longer ignore. Mr. Speaker, the other day you had a historic milestone that was achieved in terms of public policy. You would have never known it, though, because it received very short shift from the local media, the l ocal news media. I repeat, a historic milestone. And that milestone was the adoption and the code of prac-tice of criteria which in part can play a significant role in reducing racial dis parity around the procurement spend of our Government. Very quickly, for the listeners out there in r adioland, last fiscal year, for example, our Government spent $150 million on goods and services locally. Most of that spend went into white- dominated com panies. I think back to the early 2000s. The Honourable Renee Webb then had put out a figure of around 90 per cent, or a little higher than that. The spend, the expenditures then, amounted to over $200 million. And just over 90 per cent of that spend went to whitedominated companies. Post-recession and the austerity measures over the last 7, 8, 9 years has seen that spend drop precipitously down to $150 million. But still, as I understand it, some were up in the high 80 per cent level, those . . . the com panies that now get that spend today are still white- dominated companies. But this Government has made a commitment, and I call this an affirmative action policy, to ensure . . . and I am going to read it, Mr. Speaker, with your indulgence, coming from the Code of Practice for Project Management and Procurement, page 10, the Government states its aim as follows: “[The Government aims to] : (i) use its purchasing power to promote equality of opportunity with regard to disability, gender and race; (ii) facili tate the establishment of a more level playing field” (as being the rationale) “ and diverse contractor base by ensuring that specified businesses have access to, and the opportunity to win Government contracts; and (iii) work with local contractors to support the local economy. ” So this Government has made a significant commitment to economic empowerment for black Bermudians, but also you will note that there are other criteria to have more diversity in terms of inclusion, for people with disabilities, or companies that may be run by those with disabilities, and gender. Although I got to say, on the gender piece—and some of the ladies, please don’t get offended, at least by the data— we may also be talking about black males in terms of the gender piece, if you look at the accompanyi ng data in the census. It is not a pretty picture in terms of black males. So this has to be an intrinsic part of our public policy approach but not the only one in closing these gaps, because at its heart these gaps are most perni-cious when it comes to economic opportunity —most pernicious. So much so, Mr. Speaker, that when you talk about countries with high levels of income inequality, it says that those countries with high levels of income inequality —and Bermuda is pretty high on that list — are beset by things such as gang formation, gang vi olence, low educational outcomes . . . and I can go on and on, Mr. Speaker. We are seeing these outcomes in Bermuda and they accompany the rise of income inequality in this country over the last . . . some would even say over the last 25 years, maybe more, going back certainly into the late ’80s. I have talked about this before. And so in Bermuda what has happened is that the impact from . . . this country was having such a high level of i ncome inequality, that when y ou put racial disparity into that mix . . . in fact, it exacerbates the racial dispar ities. Maybe that is why we are seeing the types of increases over the last few years as evidenced and reflected in the census report. You have in Bermuda most of the impacts from high levels of income inequality being, as I have said, ring -fenced around Bermuda’s black community. Not because they are black, although the reason why they are such (in terms of so many of the households in these communities suffering from low income and low socio -economic status) is because of that precise outcome that I talked about. When you have these households that are low income status, they are more prone to having to be subjected to the outcomes as a consequence of living in a society w ith high income inequality. So, Mr. Speaker, we need to have a twoprong approach. We know that the matrix by which the Office of Procurement is going to be advising all the purchasers in the various government depar tments on this issue has been completed. We are looking for an information campaign, which is being put together now, so that everyone is up to speed and educated about these opportunities and what it will take to take advantage of them. This is going to be key. We also are going to be able to, according to the Minister and others I have talked to, ensure that companies, black -dominated companies, companies dominated by persons with disability and gender, are going to get all the assistance they may need from departments or organisations such as the Bermuda Economic Development Corporation. You see, there is too much at stake here to have companies fail. We want to ensure that these companies, some of whom may be new in this space (to use this new buzz word about being “in the space”) are going to have every opportunity they need to sucBermuda House of Assembly ceed. Ultimately, it is going to be up to them. But we are going to ensure that there are not going to be stumbling blocks in front of them. But , again, it has to be a two- prong approach. So we have this new, agai n, historic initiative, the first affirmative action- style programme in Berm uda by our Government.
[Desk thumping]
Mr. Rolfe CommissiongBut I want to get to the ot her prong that still needs to be done, Mr. Speaker, in the remaining time that I have left. Because there was another affirmative action- style programme that was attempted to be put in place in the mid- 2000s, and that was called …
But I want to get to the ot her prong that still needs to be done, Mr. Speaker, in the remaining time that I have left. Because there was another affirmative action- style programme that was attempted to be put in place in the mid- 2000s, and that was called the Workforce Equity Bill. That Bill would have enabled black Bermudians, educated black Bermudians entering into m ostly the corporate sector, the still white- dominated corporate sector —
[Timer beeps]
The SpeakerThe SpeakerThank you, Member. Does any other Member wish to speak? No other Member speaking, we stand adjourned. [Gavel]
The SpeakerThe SpeakerWe stand adjourned until nex t Friday at 10:00 am. [At 3:27 pm, the House stood adjourned until 10:00 am, Friday, 6 July 2018.] 2624 29 June 2018 Official Hansard Report Bermuda House of Assembly [This page intentionally left blank]