February 9, 2024

Yes. Thank you, Mr. Speaker.
I want to thank the Premier for his answer. And
I certainly agree that it is great news and something that
the Government should be proud of.
I notice that the Premier had mentioned that
the Government has moved into phase 2, which allows
public officers and the like to transfer their mortgages
and save some funds. But can the Premier please give
us an update on phase 2 and how it is progressing?

Premier.

Hon. E. David Burt: Thank you, Mr. Speaker.
Mr. Speaker, there is something that I want to
say more broadly. And it is that good news is not some-thing that is seemingly readily shared in the media, but
bad news or scandal, or perceived scandal, is the type
of stuff that is covered. So it is unfortunate that in my opinion there has not been broader coverage despite
the fact that the Government has given plenty of information on this.
Nonetheless, what we have done is that we
have engaged with our union partners, who are representing public services unions, making numerous
presentations. We have made sure that we have
equipped Members of Parliament with the information
so that as they are knocking on doors, they can understand and share with their constituents who may be
challenged with the fact that some banks in the country
(not all banks in the country, Mr. Speaker, some banks in the country) have raised their interest rates over the
past years. And as we have seen, the unfortunate result of that is significantly increased banking profits in
the local market.
But that is why the Government asked to make
sure that we can provide relief where we can. And we have done a good job in doing that. What I can say is
that the Government and BEDC have engaged with the
unions. We have had presentations with the Bermuda
Public Services Union. We are continuing to organise
presentations with union partners, sharing that infor-mation over internal government matters which get to
union persons so they can actually see and understand
the benefits that they have for them. We are


Bermuda House of Assembly considering making sure to expand this also to employees and quangos, as they are not strictly defined as public officers under the law, but we believe that they are persons who have been constrained by salary in-creases as the Government moves itself towar d a balanced budget as well. And we want to make sure that
they are able to take advantage of this programme as
well.

Thank you, thank you, Mr.
Speaker. And thank you, Premier. Certainly, we agree
that this is great news to hear.
So I appreciate the update on phase 2, but,
Premier, as you can appreciate, a lot of my constituents
are anxious to hear some news about phase 3 which allows the public —not just public officers, but the wider
public —to participate in this programme. So wou ld you
be able to provide an update as to where we are with the potential transition to phase 3?
Hon. E. David Burt: Mr. Speaker, on that particular
matter, the Government is certainly monitoring the $50
million limit and making sure that we exhaust the
awareness on phase 2 before we move to phase 3. But I think it is also important, Mr. Speaker, that though it may not be the mortgage guarantee programme which provides interest rates at 5 per cent, it should be noted
that there are banks that provide significantly lower interest rates on mortgages in the local market than they
may be at the banks which have raised their interest
rates significantly over the past year.
And in that case, Mr. Speaker, the Government
responded by making sure that we are not at phase 3
by making sure that we remove taxes on changes of
mortgages, so that persons can move their mortgage from one bank to another without having to incur addi-tional stamp duty charges, which can in fact save them
significant amounts of funds. This is something which we want to make sure we remind.
We have put out press videos and promotions
around this particular matter, and I hope that at this point in time it is a reminder to the public that if you are with a bank that has increased your mortgage rate sig-nificantly, there are options. You are able to move your
mortgage without having to incur additional stamp duty
taxes, as this Government has said that we want to ensure that we free that up so that persons can move and the market can be more competitive.
Anyone who has any questions around that is
happy to email the Ministry of Finance. They can get in touch with my office at ministeroffinance@gov.bm
because we want to ensure that persons are taking advantage of the changes in law that this Parliament has passed, has put into effect, that this Government is doing, to do everything that we can to relieve the burden and to remind persons that they have options and choices in the market and the Government will make it easier for them to access those choices in the market.

Good morning, Mr.
Speaker.
This year Government has completed the refurbishment of the public bus fleet to new, electric buses. I know there have certainly been complaints in
the community in the past in regard to the cancellation experiences that people were having. So my question is, Can the Premier share how this investment has improved the reliability of the bus service?

Premier.
Hon. E. David Burt: Thank you, Mr. Speaker.
Mr. Speaker, what I can state is that in the period and point in time up to the time that the new buses became operative, we were looking at average cancel-lations around 25 a day, which was a significant impact for riders. And what is important to note is that this is
the reason why this Government has continued to com-mit to investment. And we have seen capital investment
increase year over year over year of making sure that
we are making the investments that are necessary to make proper investment in public services that we can support persons.
What I can state is that after the buses, the new
buses came into operation, average cancellations in that period dropped from 25 to 35, to one per day, which was the average cancellation. And those things can happen for a number of reasons. But we have s een
a significant improvement in the bus service due to the investments that this Government has made.
And it is important to note, of course, that these
buses are eco- friendly, and they are green buses running on electricity. And this is something that is certainly a benefit as we continue to advance and to keep our promise to future generations of reducing our carbon output. But the highlights are that the average figures
have moved to cancellations of one per day whereas
before we know they were in the range of 20 to 30.

Supplementary?

SUPPLEMENTARY

338 9 February 2024 Official Hansard Report

Bermuda House of Assembly Mrs. Ianthia Simmons -Wade: Yes, Mr. Speaker.
Of course, we know that this has not been in
the news lately, so it must be improved service. So my
next question is, Can he share what other measures
are being taken to improve the bus service?

Hon. E. David Burt: Thank you, Mr. Speaker.
I think that is a great question. Because we
know that we have to continue to invest in public services and make them better. The key point is that this
Government has always acted in a fiscally responsible and prudent manner to ensure that we can remain on
our budget targets while also making the necessary investments which are important for the people of this
country.
This year, as it was funded in last year’s
budget, I believe the Minister of Transport has informed
me that the digital fare media should be up and running
by the summer. Summer begins in June. We are expecting those things to be ready for that point in ti me,
and those are some things that will certainly improve
bus service. But not only will improve bus service insofar as efficiency, it also helps with collection of revenue.
And that means that we are going to expect more revenues to be collected because t he more efficient collection of revenue with digital fare media means that
fewer persons will be skipping and missing out on fares.

Okay. Ministers, this morning from the
Statements that were given this morning there are Members who have questions. The first is to the Minister of Economy and Labour in reference to his first Statement.
And the Opposition Leader would like to put a
question to you.
Opposition Leader.

QUESTION 1: NATIONAL TRAINING BOARD
ANNUAL REPORTS 2019/20 TO 2022/23

Hon. Jarion Richardson: Yes. Thank you, Mr.
Speaker.
The Honourable Minister made the point of
saying that the requisite reports relating to the National
Training Board had not been properly filed in contravention of section 11(1) of the relevant Act. To that end
he said this was due to many factors. Obviously we see this in the regulatory world where, if something like this
were to happen, you would get penalised. So I am really curious for him to let the Honourable House know what happened. Why did we miss four reports? And
what does the Minister intend to do to ensure that this
will not arise again? Thank you.

Minister.
Hon. Jason Hayward: Mr. Speaker, I proudly tabled
the National Training Board [Annual] Reports for the years 2019 to 2023. Members would know that during
that period we would have had a pandemic. We would have had a change in leadership of the Department of
Workforce Development. We would have started out
with multiple acting directors before we got a substantial director for that department. And then we would
have gone through changes in terms of the chairman-ship of the board. On a number of occasions, we have
also been moved to transition the board into a national
certification and apprenticeship board.
As a result of all of that, those moving pieces,
we were unable to produce the timely reports that we were subject to do underneath the Act.
I would say that these reports are not financial
reports, from an auditing or compliance standpoint. So these reports contain no financials. These reports are
reports about progress in terms of work being done and
executed on. And I think the reports that have been provided sufficiently lay out (notwithstanding the reports
were not done) a significant body of work that was carried out over a period of time and the lives which the
Department of Workforce Development has invested in
and developed over that period of time. And I think that


Bermuda House of Assembly is what the public want to know, whether or not we have
a functioning Department of Workforce Development.
And this report makes it abundantly clear that the department is functioning and investing in the lives of Bermudians.

Hon. E. David Burt: No question! No question!

[Desk thumping and i naudible interjections]

No.

[Laughter]
Hon. Jarion Richardson: Yes. Thank you. I enjoy how
everyone gets worked up on these things.

[Inaudible interjection and laughter]

SUPPLEMENTARY

Hon. Jarion Richardson: I would like the Honourable
Minister to describe the Youth Employment Strategy in
2021. He had mentioned it during the Statement. And
if he could just describe some of the management and
oversight information he is receiving to make sure that project achi eves its outcomes. He had mentioned that
it was part of his reporting process, but obviously we had said that, Okay, we missed some reporting deadlines. So what is he receiving and looking at to keep on
top of that project? Thank you.

Thank you.
Minister.
Hon. Jason Hayward: Mr. Speaker, in previous budgets . . . and in this budget period I will lay out the funds
which will be allocated to the Youth Employment Strategy along with the work that has actually been done
and in alignment with that particular strategy. That
strategy is specifically designed to support young people between 18 years old and 26 years old and transi-tion those individuals to employment.
Amazingly enough, I actually attended the
fourth cohort of the graduate training programme last night, individuals who would have graduated from that
particular programme. And that programme was directly aligned with the Youth Employment Strategy in terms of placing people on pathways to success and
giving our young graduates the opportunity when they
come back from school to get internships in their area
of study. Many times our young persons return from
school and, unfortunately because they do not have the
experience or the appropriate network, they cannot get into entry -level positions. And this particular programme creates a bridge. The goals which are set out in the Youth Employment Strategy are broad- based goals. They are not
just under the remit of the Department of Workforce Development, but also focus on youth entrepreneurship
which will be under the remit of the Bermuda Economi c
Development Corporation. On a quarterly basis the Department of Workforce Development sets out action
plans as to training and development that it will engage
[in] over that period of time. You saw last year that we
expanded our summer employment and sum mer internship programmes and provided additional funding
in that particular area. That is a direct result of what we
have done with the Youth Employment Strategy.
Prior to launching this Youth Employment
Strategy, unemployment of our young people was at
33 per cent. Now our unemployment of our young people is at 11 per cent. And we will continue to make inroads in terms of ensuring that our young people get
access and opportunities to the world of work.

My question to the Minister is,
Given that it is often that the harassing/catcalling happens and is particularly traumatising for young women,
and that it is very awkward to want to report this to the
police or any others, my question is, When reviewing
the legislation, will the Minister be looking at the accountability or the enforcement that can actually be applied to employers, associations and others so that the
responsibility to curtail catcalling is not put in the hands
of a young woman who has been traumatised, but rather the people who are the employers, the property owners, the police service and their ability to [carry out
surveillance of] certain areas?
We know the hotspots. So I am just curious
what responsibility will be put on the members of our
society who may be creating or having environments
for catcalling to exist. What accountability or responsibility is going to be put on them and not so much on a
young woman who has been victimised? Thank you.

Thank you.
340 9 February 2024 Official Hansard Report

Bermuda House of Assembly Minister.

Hon. Michael A. Weeks: I kind of got lost in the question, Mr. Speaker. But if memory serves me right, the first part when it comes to employees and employers, that is in the Employment Act. So when it comes to bullying and other kinds of harassment, that has already
been estab lished.
When it comes to the catcalling and street harassment, that legislation will be reviewed. And once we
have done a full review of it, we will determine what steps to take so that we can adequately address any of
those catcalling or harassment issues that our young
people find themselves being subjected to.

—to my age today, which is in
the seniors category, my question is and it still remains,
What responsibility is going to be placed on those in
positions of authority to actually do something to stop
the harassment and catcalling? It is fine to have a PR campaign about how we have created this law. We already know that no one is going to report these inci-dents. So they have to be observed, and they need to be carried out by the people responsible for the areas
or the associations of people who are doing this behaviour, this bad behaviour.

Minister.
Hon. Michael A. Weeks: Thank you, Mr. Speaker.
Mr. Speaker, I would like to start by saying, you
know, as a father of a daughter and a grandfather of
two granddaughters, and a son of a mother and a
brother of sisters, I have seen the effects of that and I
have seen that in action. Hence when I was approached by these young ladies from the Family Centre
with this presentation, they were unsure of whether or
not the Minister was going to really give them an audience. So, I definitely gave them an audience. I promised them that I will address this and car ry it through.
So once the legislation is reviewed, we will look
at ways to make sure that we put policies in place that can address street harassment and catcalling. Thank
you.

Would any Member wish to make a contribution? Any Member? Any Member?
Deputy Premier, you have the floor.

Hon. Walter H. Roban: Thank you very much, Mr.
Speaker.
I first would like to give condolences to the family of Mr. [Joseph] Sinclair Richards, well -known educator, senior leader in the education field for many years.
He was the father of a number of persons well -known
to us, including the Education Commissioner, and also Ms. Melody Parris and father -in-law to Roger Parris. He
had a very well -known large family in the community,
highly regarded. Two members of his family, his extended family, happen to be my constituents. So his
passing did have some relevance to many members of
my community that I represent. And I would just like to
ensure that the House takes note of his passing. I am sure that the Minister of Education, who is not here,
would have wanted to be also associated with those remarks.
I would like to also, Mr. Speaker, ensure the
House takes note that February 7 of this month was the
50
th anniversary of the independence of the Island of
Grenada, another member of the CARICOM family, an
island that is not unfamiliar to Bermuda and not unfamiliar to history. If I can say that many people are familiar with the history of Grenada and its inter esting events
certainly over the last 50 years that have been a part of
that island’s history. But it is a proud, independent na-tion participating in the global community. And they (as
I have received reports) have celebrated their anniversary with great pride and happiness of their accomplishments as a country. So I would like to ensure that
the House at least takes note of that as they are a member of the CARICOM family of which we are also a
member.
And last, Mr. Speaker, I would like to take note
of four Bermudians who were given recognition not too
long ago for their contributions to the community by The
Bermudian Magazine —Ms. Patrina O’Connor -Paynter;
[Dr.] Carika Weldon; Mr. [Myles] Darrell, who works at
the National Trust; and Ms. Christie [Hunter] Arscott —
four obviously Bermudians who deserve recognition for
their work for the community. And I just want to show
that the House takes note that they were recognised as
Bermudians of the Year for 2023.


Bermuda House of Assembly Thank you very much.

Thank you, Mr. Speaker, and
good morning, colleagues.
Mr. Speaker, since we last met, several constituents of mine passed, and I would really like to have
the House send condolences to their families. The first
one was Ms. Bessie Horton of Khyber Pass area. I will
associate Minister Weeks as well. Bessie Hor ton was
one of those constituents who called me regularly —and
I mean regularly —and always had either some suggestion on how best to do something or something that we
maybe had been doing (she thought) wrong. And I
would have to explain to her why we were doing it. And
I am sure she will be missed, from her very, very large
family.
The other constituent who passed was Ms.
Jonelle Tucker, the widow of Webster Tucker, who was
actually my neighbour just across the road from me in
Rocklands. And she will certainly be missed. Her son Jaron and I have lots of talks together as well. In fact,
let me say that Ms. Tucker always informed me when
test matches were being played and on television. Be-cause that was a real interest to her; cricket was a real
interest to her.
And the next person, Mr. Speaker, family I
would like condolences to be sent to is the family of Cal
Ming, [Jr.] Cal Ming and his son lived in my constituency, in fact my neighbour down the road as well. And
I will associate the Deputy and Premier, in fact the
whole House on this one. As I said, Cal Ming was my
neighbour for quite a while. As well as coming up the hill, when I would come up the hill in Rocklands, I would
always stop at his house some days and have some
conversations with him. So, I am sure all of his family
will miss him. And I ask that condolences be sent.
Thank you, Mr. Speaker.

Thank you, Government Whip.
Does any other Member wish to make a contribution at this time?
Minister Weeks.

Hon. Michael A. Weeks: Thank you, Mr. Speaker.
Mr. Speaker, at this time I would like to have
some congratulatory remarks sent to the Department of
Corrections and Customs. Mr. Speaker, last Friday
eight new corrections officers passed out in the parade
at Warwick Camp. And their family and friends were
proudly there to see them become corrections offic ers.
Last Monday, Mr. Speaker, four new customs
officers were passed out —every time I say “passed,” I
am not saying anything physically; I am talking about
they become in a passing- out parade, right? Both the customs and the corrections. So in saying that, you
know, the application process is always open to our
young Bermudian recruits. So hats -off to the corrections officers and to the new customs officers.
Thank you, Mr. Speaker.

Thank you, Minister.
Does any other Member wish to make a contribution at this time?
Minister Hayward.

Hon. Jason Hayward: Mr. Speaker, today I want to
send congratulatory remarks to Jomeko Mallory.
Jomeko Mallory is a young chef who currently works at
Hamilton Princess. Jomeko successfully completed a
full year apprenticeship training programme in culinary
arts, and after successfully completing that programme was offered a position at Hamilton Princess. But
Jomeko’s journey was not smooth, as his apprenticeship began at Fairmont Southampton Princess, and
then the hotel closed down. So it was a little bit of uncertainty on whether or not he would be able to continue in an apprentice capacity. And Hamilton Princess,
thankfully, took him on, brought him in the folds of their
team and nurtured him with the chefs whom they currently have. And it was a proud moment where
Jomeko’s family and the hotel all came together to congratulate Jomeko on his achievements.
Jomeko is now Red Seal certified. That is an
international certification that can take Jomeko in any kitchen anywhere around the world. But this is prior testament of the work of the Department of Workforce Development and industry working together to inv est in
our young people. And I thank Jomeko for staying on
course and successfully completing his certification.
Thank you, Mr. Speaker.
[Desk thumping]

I would like to congratulate Bright Temple AME Church who celebrated their 60
th anniversary by having an interesting banquet
where they acknowledged all of the young people who came through the AME Church, Bright Temple. One of
them happens to be Marc Telemaque. So, it is interesting the number of people whose lives this church has touched. And it was a great evening.
I would also like to congratulate/acknowledge
all of those families in the community who are also
342 9 February 2024 Official Hansard Report

Bermuda House of Assembly caregivers. We have a significant amount of support in
this country for individuals who decide to keep their
loved ones at home. But very often they are the unspoken heroes. So at this time I would like to significantly
congratulate all of those families.
Thank you, Mr. Speaker.

Thank you, Mr. Speaker.
Mr. Speaker, I would like a letter of condolences sent to the family of Mr. Albert Saltus from Mullet
Bay, who passed away. What it is will be sadly missed.
On a happier note, I would like a letter if possible sent to both the Bermuda College and the US Consulate, especially the US Consul General, Ms. Branwen
Smith -King; the interim Vice President of the Bermuda
College; and Troy University, my alma mater, for the
realisation of an articulation agreement which would benefit many students for many years to come in education, especially in the field of hospitality. There is a
baccalaureate degree programme in hospitality, nurs-ing, risk management and sports mana gement. In addition to being a fine university, [Troy] has some great sporting teams which I was blessed to be a part of. It is a great time. It takes a long time to achieve these types
of things, Mr. Speaker. And I am very pleased to have
been associated with the process, having been a graduate in 1980 of Troy University.
To have the oldest living chancellor of a public
education system in Bermuda to do such was no mean feat. A gentleman, [University Chancellor] Dr. Jack
Hawkins, who eulogised the late Congressman John
Lewis, the boy from Troy who was born in Pike County
who in 1957 could not even enter the school and made
such good friends with the same Dr. Jack Hawkins for
him to eulogise him. And to be in Bermuda was indeed
an honour for me to be a part of that and to be con-nected with such a fine institution, to have them in Bermuda to do many good things. And a shout -out to certainly the President of the Senate, who very tearfully
contributed a donation to be a part of the nursing programme, which is her trade, Senator Joan Dillas -
Wright. It was my honour to have a whirl wind 49 hours
in the presence of such good work done by the US Con-sul General and the Bermuda College in collaboration
with the good people at Troy. Thank you, Mr. Speaker.

So they celebrate 98 years of existence, the Somerset Cricket Club. So as I said, this has been their anniversary week this week.
But I do want to switch sides, Mr. Speaker.
Very, very rarely you will hear me say congratulations
to this. But congratulations to the new incoming Presi-dent of St. George’s Cricket Club. I will associate MP Swan and the other St. George’s fans and followers in
this House. Mr. Mishael Paynter, a young man who is
stepping in to take over from Mr. Neil P aynter, who had
served for 20- plus years, I think the longest -serving
President of St. George’s Cricket Club. So—

Oh, okay. Then I would
associate myself with the condolences for Mr. Ming. I
attended his homegoing ceremony, and the first tributer
was Puisne Judge Juan Wolffe, who reported that
when Mr. Ming worked in the court system with drug
convicts, not one of them re- offended. And I think that
was a testament to his attitude and approach and life.
Wherever he went, whatever he touched was positive.
And even though he got an ex tra 31 years after a heart
transplant, he always gave the best of himself to eve-rybody whom he met.
I attended the Red Kettle campaign in December, where he was at. And the former Executive Direc-tor of the Salvation Army in Bermuda, now Lieutenant Colonel Sandra Stokes, attended the funeral and informed us that she had a boyfriend while she was here.
And it was him because he intervened and helped her
assimilate into Bermuda and be a success as a divi-sional commander.
The second condolences I would like to offer
up (and maybe someone has done these too) is for Mr.
Joseph Sinclair Richards.

Plenty, plenty. Too
many to remember.
So his celebration was on Tuesday of this
week. Mr. Richards, people talk about schools and sav-ings schools and buildings. I do not have a whole lot of
time for that because I do not remember what class-room I was in or what the innards of the school looke d
like. I remember the teachers who taught me who had
an impact on my life. So he would be partly responsible for who I am today. And he was an outstanding educator.
[Timer chimes]

I would like to send condolences to the family and friends of Birgitte Dill. She was
affectionately known as Bitten Dill and was the mother
of our bishop, Nicholas Dill. An amazing legacy of fam-ily. She has produced . . . Well, what more can anyone
say? She has produced the Bishop of Bermuda. But a
grandmother, great -grandmother, a mother, a friend,
an amazing constituent. And I just want to acknowledge
that her life here in Bermuda, her service to the Old
Devonshire Churc h in Devonshire, her commitment to
family, to the community, to Bermuda as a whole were
substantial. And her legacy will live on for many, many
generations to come. So, I would like the House to
acknowledge and certainly feel and share condolences
to the family at this time. Thank you.

Thank you, MP.
Does any other Member wish to—
Premier, you have your three minutes.
Hon. E. David Burt: Thank you, Mr. Speaker.
Mr. Speaker, I would like to be associated with
the remarks of condolences that were given to the family of Mr. Calvin Ming. I, along with the Opposition
Leader, attended Florida Air Academy with Calvin
Ming [III], his son. And certainly we were close to the
family. So I want to ensure that I am associated with
those remarks.
I would also ask that an honourable note of
condolences be sent to the family of the late Mr. Ryvan Ramsey. Mr. Ramsey’s beloved wife, Verna- Lee, is a
devoted member of the Cabinet Office team, whom I am sure many Members would be aware of. I would ask that a letter be sent there.
I would also ask, Mr. Speaker, that a letter of
condolence be sent to the family of Mr. Peter Ramotar. I would like to associate all Members of the House. Mr.
Ramotar was a remarkable man whose dedication and
selflessness profoundly impacted our community and
our party, the party that I represent in this House. He
was a tireless contributor to the Progressive Labour
Party as a delegate providing transport at meals during
344 9 February 2024 Official Hansard Report

Bermuda House of Assembly elections and conferences. He was a well -known ambassador for his adopted country of Bermuda and as a
bus and a taxi driver. We know and we remember what
happened with him in 2021 when he protected schoolchildren on his bus who were being verbally abused, which led him to be viciously attacked. But it showed
his bravery and care for others.
I did attend the service. I spoke at the service.
And he is certainly deeply missed. And I am grateful for
the kindness that he showed not only to myself as
Premier, but also to my family.
And there is a particular story that I shared at
the wedding [sic] where my —

Funeral.
Hon. E. David Burt: Funeral, sorry . . . where my wife
and my mother -in-law went to Bermy Cuisine the day
after the 2017 election. It was full, and Mr. Ramotar offered a table not knowing who the persons were. When
he found out, he was overjoyed and he even paid for the meal . And it was just a measure of the selfless, selfless person that he was.
Mr. Speaker, finally I wish to ask for a letter of
condolence to also be sent to the family of my late con-stituent, Ms. Colleen Hollis, who also is the aunt of the
Minister of Education. Ms. Hollis was a cherished member of the Pembroke community who regu larly attended
our open- door clinics, also participated in our annual
Seniors Tea. She was a treat, someone whom I always liked to visit at her home. Unfortunately, I was off Island over the Christmas holiday and was not able to be there
at her service. Bu t when I went canvassing a couple of
weeks ago, I made sure to stop by and deliver my personal respects to her husband, Mr. Sherman Hollis.
And finally, Mr. Speaker, I would like to ask that
all Members be associated in this House with congrat-ulations to our new Chief Justice, Mr. Larry
Mussenden.

Thank you, Mr. Speaker.
On congratulatory notes, everyone knows —I
declare my interest, I should say —my grandson plays
for the Dandy Town Hornets and is a 13- year-old. I just
want to congratulate the coaches. They are doing a fantastic job. At this time of the year the national c oaches,
Bermuda’s National Team coaches are looking for
players to choose. And eight of the under -13 members
of the Dandy Town team actually were nominated for the national team. That is like almost a whole team. The
first time I have heard of that.

Thank you.
Does any other Member wish to make a contribution at this time?
None other?
Before we move on, I would just like to add my
name to some of the remarks that have already been expressed. Of course, I would like to be associated with
the condolences to Cal Ming. I have known Mr. Ming
for many, many years. He was always an outstanding
gentleman, very sincere in everything that he did.
Mr. Sinclair Richards. Of course, as a Somerset boy, I know of Mr. Richards and his family extremely
well, although I did not attend West End. He always had
a very positive and strong image in our community.
And also my former classmate, Ms. Bessie
Horton. We all know that Bessie was always strong in
her viewpoint and took notes asking to express them to
you at any time. She will definitely be a miss.
Last, to the congratulations to the newly appointed Chief Justice, Mr. Larry Mussenden.
And yes, supporting the congratulations to the
Somerset Cricket Club and recognising that we will be
honouring them again, acknowledging them again this
summer after the classic.

[Laughter]

There are two Government Bills to be
introduced this morning. The Premier’s is the first.
Would you like to introduce your Bill at this
time?
FIRST READING
REGISTRAR OF COMPANIES
(ANNUAL CORPORATE REGULATORY
FEES) ACT 2024
Hon. E. David Burt: Thank you, Mr. Speaker.
Mr. Speaker, with the Governor’s declaration
as per section 2(1) of the Provisional Collection of Revenue Act 1975 that it is expedient to the public interest that the provisions of this Bill should have statutory ef-fect from its first reading in the Hous e of Assembly, I
am introducing the following Bill for its first reading so
that it may be placed on the Order Paper for the first
day of meeting, and that is the Registrar of Companies (Annual Corporate Regulatory Fees) Act 2024.

Thank you, Premier.
The next is in the name of the Minister of Economy and Labour.
Minister.
FIRST READING
ECONOMIC DEVELOPMENT
AMENDMENT ACT 2024
Hon. Jason Hayward: 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:
the Economic Development Amendment Act 2024.

Members, the order of business to be
done today is the second reading of the Investment Business Amendment Act 2023 . . . adjustment? And
that is in the name of the Premier/Minister of Finance.
Hon. E. David Burt: Thank you very much, Mr.
Speaker.
Mr. Speaker, I move that the Bill entitled the Investment Business Amendment Act 2023 be now read
for the second time.

Yes.
Hon. E. David Burt: The main purpose of this Bill is to
introduce enhancements to the Investment Business
Act [2003], which I will hereinafter refer to as “the
Act,” to modernise the ov ersight of investment
exchanges and clearing houses, collectively termed
as “recognised bodies” underneath the Act, which
are supervised by the Bermuda Monetary Authority
[BMA], which for short I will say “the Authority” as I
continue to read this brief.
The Bill also contains a small number of other
changes mainly to clarify aspects of the framework,
changes for regulation or investment business firms,
which were approved by the Legislature in 2022.
Mr. Speaker, Bermuda’s financial services sector is subject to the regulation supervision of the BMA,
which was established in 1969 under the Bermuda Monetary Authority Act. The Act vests the Authority with the powers to license, register and supervise persons carrying on investment business in or from
346 9 February 2024 Official Hansard Report
B ermuda House of Assembly Bermuda and to pursue corrective action as necessary
to maintain a safe and sound environment.
The Act within Part IV also provides for a
framework for the Authority to recognise and supervise investment exchanges in clearing houses operating in Bermuda in a manner proportionate to the nature, scale
and complexity of its operations and the risks they may
pose to the juri sdiction.
Mr. Speaker, the governing framework for the
Authority’s supervision of investment businesses de-rives in large measure from core principles issued by the International Organization of Securities Commissions, which I will refer to as “IOSCO.” And, Mr.
Spea ker, I just joked in the Ministry of Finance that I like
to sometimes call it “the Ministry of Acronyms” as there are so many acronyms that a Minister of Finance has to remember. However, the Authority incorporates the principles throughout the framework duly taking into account the specific nature of the investment business
market in Bermuda. The House is reminded that the Authority has been a member of IOSCO since the 6
th of
June 2007. The House is also advised that the IOSCO core principles require a relevant regulatory authority to
frequently review the manner in which securities regulations are carried out in its market.
Mr. Speaker, as previously indicated, the majority of the changes being proposed in this Bill pertain to oversight of recognised bodies, which are addressed under Part IV of the Act. The changes represent the
final phase of a multi -year modernisation of t he Act
which commenced in 2021. Members are also reminded that the Authority first sought to enhance its su-pervision of investment businesses through amend-ment of the Act in 2022 with the express intention to update regulatory requirements for recognised b odies
thereafter.
Mr. Speaker, the Authority commenced the initiative to update the framework for recognised bodies by reviewing the current framework against the relevant international standards including those established by
IOSCO. The need for effective and appropriate oversight of investment exchanges and clearing houses is
underscored throughout principles promulgated by IOSCO, specifically principle 9, which handles princi-ples of securities regulation established as an expecta-tion for financial regulators to create, i mplement and
maintain appropriate oversight frameworks for self -regulatory organisations (or SROs), a general classifica-tion within which investment exchanges and clearing houses typically fall. To meet these objective- related
standards emphasises the need for financial regulators
to retain comprehensive inspection, investigation and
surveillance powers and to ensure that the regulatory
frameworks facilitate the credible and effective use of such powers.
Mr. Speaker, the principles for financial market
infrastructures, which were also developed by IOSCO in collaboration with the Bank for International Settlements, [are as follows]: •to guide the oversight of investment ex-changes, clearing houses and other market intermediaries;
•to establish expectations for, amongst other
things, the public disclosure of the criteria used
to identify financial market infrastructures thatare subject to regulation, supervision and oversight;
•the establishment of adequate powers for regulators consistent with their relative responsi-bilities including the ability to obtain timely information; and
•to enforce corrective action when necessary
and clear definition and disclosure by regulators of their policies regarding financial market
infrastructures including their objectives, rolesand regulations.
Mr. Speaker, following assessment of the existing framework in the context of both sets of principles, the Authority developed the proposals being presented today, which are designed to achieve a modern
and more appropriate regulatory framework for oversight of investment exchanges and clearing houses. It
should be noted that the proposals were pre- consulted
with key stakeholders, the Bermuda Stock Exchange,
Bermuda’s only recognised body, first in December of
2022, and again more comprehensively in mid-20 23
once proposals had been fully developed.
Following pre- consultation, the Authority issued a consultation paper in September 2023 entitled
“Proposed Amendments for the Regulation of Invest-ment Exchanges and Clearing Houses and other Additional Changes to the Investment Business Act 2003”
to initi ate wider engagement of stakeholders on the detailed proposals.
Mr. Speaker, generally speaking, these
amendments introduce minimum recognition in prudential requirements which are currently absent from Part
IV of the Act, which is due to unexercised regulation rulemaking powers already available in the Act, and they will also serve to better align the regulators’ enforcement capabilities under this framework with inter-national expectations.
Mr. Speaker, the key highlights of the amendments are as follows:
Recognition Requirements
Hon. E. David Burt: The Bill clarifies the eligibility requirements for the recognition of investment ex-changes and clearing houses. Currently, Part IV does
not specify that recognised bodies must be domiciled and operate in Bermuda. This Bill will therefore clarify and distinguish the limited scope of Part IV when compared with the rest of the Act by specifying that recog-nised bodies must be incorporated or domiciled in Ber-muda.
Mr. Speaker, in present section 71 of the Act,
the Authority may issue a recognition order if an

B ermuda House of Assembly applicant satisfies the requirements for recognition established by the Minister of Finance. This Bill provides for amendment within Part IV to replace that recogni-tion order with a recognition certificate also issued by the Authority where an applicant has satisfied certain recognition requirements. The objective of this change
is to conform this recognition instrument with the type
of instruments issued by the Authority in similar frame-works.
Establishment of Prudential Standards
Hon. E. David Burt: Mr. Speaker, one of the main pillars of effective prudential supervision is ensuring the ongoing safety and soundness of financial services firms by monitoring their solvency and liquidity over time. This Bill therefore introduces the ability for the Au-thority to issue rules establishing minimum prudential
standards for recognised bodies with a focus on capital
and liquidity requirements. Under such rules, recog-nised bodies will be newly required to report their capi-tal liquidity positio ns to the Authority on a semi- annual
basis and to allow the regulator to monitor compliance
with those minimum requirements.
Introduction of Enforcement Powers
Hon. E. David Burt: Mr. Speaker, the Bill will provide
the Authority with powers to enforce the various re-quirements in the Act which pertain to recognised bodies. The enforcement powers provided for in the Bill will facilitate information- gathering, investigation, disciplinary capabilities where it is determined that a recog-nised body has breached or is suspected of breach un-der the requirements of the Act. And those powers will
be executed in a manner consistent with other frameworks administered by the Authority.
Mr. Speaker, included among these new enforcement powers is the right of the Authority to give directions to a recognised body if such directions are
deemed to be in the best interest of the jurisdiction including for the preservation of Bermuda’s financi al stability.
Obligations of Recognised Bodies
Hon. E. David Burt: Mr. Speaker, the Bill will make
provision for the Authority to prove a recognised body’s market listing rules, regulations and/or bylaws. A rec-ognised body will be required to submit proposed new or amended market listing rules to the Authority for writ-ten approval before they are enacted. This represents
a strengthening to the existing requirements in section
73 for recognised bodies to simply notify the Authority
where they alter or revoke rules or guidance or where they make new rules or issue new guidance to the mar-ket.
Mr. Speaker, the Bill also introduces the requirement for every recognised body to appoint an auditor to conduct financial audits in accordance with generally accepted auditing standards. Furthermore, it establishes the duty for auditors to communicate cer-tain matters that they become aware of during the course of the audits to the Authority. Those matters include but are not limited to when an auditor identifies
material misstatement in a recognised body’s financial
statement, has doubts about the ability of a recognised
body to continue as a going concern, or identifies ma-terial internal control weaknesses or fraud. The details of those matters which should be reported to the Au-thority will be codified within a new set of regulations
following the enactment of this Bill.
Audited Annual Financial Statements
Hon. E. David Burt: Mr. Speaker, the Bill further requires each recognised body to submit audited finan-cial statements to the Authority no later than 120 days
after its year end. Those financial statements must be prepared in accordance with accounting standards rec-ognised by the Authority. Mr. Speaker, currently Part IV of the Act allows the Authority to waive or modify a requirement for a recognised body in respect of specific
matters of which it would ordinarily be obligated to no-tify the Authority under section 73.
Mr. Speaker, to introduce even more flexibility
within the framework for operators, the Bill extends its facility to permit the Authority to grant a waiver or modification in relation to any rule or requirement applicable
to recognised bodies under the Act either where a rec-ognised body has applied for such consideration or oth-erwise as the Authority determines appropriate. The Authority already has the ability to consider and grant such waivers under other frameworks including the
newly enhanced framework for supervision of investment business firms.
Control and Ownership
Hon. E. David Burt: Mr. Speaker, regarding control
and ownership, the Bill will establish a requirement for
mandatory reporting of changes in controllers or offic-ers within 14 days of a recognised body being aware of such a change. This requirement aligns Part IV of the Act with the remainder of the Act in terms of responsibilities and obligations of licensed and registered per-sons under the wider investment business supervisory framework.
Mr. Speak er, the Bill will further permit the Authority to issue an objection to [propos ed] new or
increased control of a recognised body in
circumstances where persons do not specify specific
criteria within the Act. This requirement will prohibit a
proposal for a new or increased control from taking
effect until suc h time as the Authority has provided a
written objection, or after 90 days of the date from
which the notification in cas es where the Authority
has not issued a no-o bjection no-tice.
348 9 February 2024 Official Hansard Report
B ermuda House of Assembly Mr. Speaker, in a move to further align Part IV
with similar powers and other frameworks, the Bill also
grants the Authority the power to restrict the sale of shares of a recognised body in line with international expectations. Mr. Speaker, the new Bill introduces the ability for the Authority to charge a fee to persons applying for recognition as well as an annual fee for retaining that recognition status and being supervised by the Authority. The amounts of each of these fees will be determined following a separate consultation with
the industry and will be commensurate with the level of supervision required for recognised bodies.
Mr. Speaker, with regard to other changes related to supervision of investment businesses, while the primary objective of this Bill is to introduce changes to strengthen oversight of investment exchanges and clearing houses recognised under Part IV of the Act,
the Bill also captures minor changes to other sections
of the Act pertaining to supervision of investment businesses. These include the following:
•clarification of the required standards for auditing and preparation of financ ial statements for
in-vestment providers;
•consolidation of the Minister’s order-m aking
ability to designate non-r egistrable persons
within a single provision, as currently this
power is referred to in two separate sections;
•a c
onsequential amendment to the Fourth
Schedule of the Bermuda Monetary Authority
Act 1969 to correct references within para-graphs under the Investment Business sectionto align with and to reflect 2022 updates; and
•other minor wording amendments to clarify requirements which will remain unchanged.
Regulation Rules
Hon. E. David Burt: Mr. Speaker, while the majority of
the framework change is being made within primary
legislation, I am pleased to advise that this Bill is being accompanied by two sets of regulations, namely, the Investment Business (Recognised Bodies) (Qualifica-tion Req uirements) Regulations and the Investment
Business (Recognised Bodies) (Reporting Account-ants) (Facts and Matters of Material Significance) Reg-ulations.
Mr. Speaker, the first of those regulations addresses the qualifying criteria for recognition of the framework, while the second outlines in detail the matters of material significance which auditors and accountants of recognised bodies will be obliged to report to the Authority. Mr. Speaker, the regulations are sub-ject to the negative resolution procedure, and I intend to publish and lay them in this House in the near future.
Mr. Speaker, as a complement to those regulations, the Authority will issue a new set of rules, the Investment Business (Prudential Standards) (Recog-nised Body) Rules, to outline minimal capital and liquid-ity requirements for recognised bodies. Mr. Speaker, in closing, I would like to note the
various changes being introduced in this Bill and its
supporting instruments will together ens ure the regulatory architecture for rec ognis ed bodies in Bermuda remains appropriate and in line with international
expectations, and in so doing facilitates greater
effectiveness of the Authority’s administration of that
framework and reinforces Bermuda’s position as a
leading international financial centre.
Mr
. Speaker, as I close, I would like to state
that I would like to express my sincere thanks to the
Authority and to the regulatory unit within the Ministry
of Finance, also to the team at the Ministry of Legal Affairs, and also the private sector for their assistance in the development of this Bill today.

Thank you, Premier and Minister.
Opposition Leader, you have the floor.
Hon. Jarion Richardson: Yes. Thank you, Mr.
Speaker.
It is hard to make regulatory compliance riveting but let us see what we can do. I would like to
acknowledge my former colleagues from the Bermuda
Monetary Authority who are consummate professionals
and constantly making our country better and safer and our economy stronger.
To that end. I would like to speak to this Bill.
We obviously support it. The Bermuda Monetary Authority in their work to achieve international compliance
with IOSCO and other international standards are con-stantly working toward that outcome. And I should add
that financial regulation is not an easy thing to do. It requires an incredible amount of knowledge about the thing that you are overseeing. But it also requires the
discretion to know when to balance what can often
seem as heavy -handed intervention i nto markets and
regulated entities.
Bermuda benefits in a number of ways from the
investment business regime. Most notably, we have
some 49 regulated entities in this sector, though this
specific Bill deals with only one of those, that being the stock exchange. But even though we only have one,
we have to be very, very mindful of the role of the stock exchange in Bermuda. It plays a key role of matching capital with ideas. And to that end it is absolutely vital
to our wider economy. A lot of times in our economy we
speak about international business and refer almost ex-clusively to the areas of insurance and reinsurance. And it is really the team in banking, trust, investments, corporate service providers (I cannot get all of the titles right) —BTCSI [Banking, Trusts, Corporate Services
and Investments Department] it is called, that depart-ment, who work very, very hard to make sure that the rest of the financial services market and industry is competitive and well regulated. And to them I give credit.
I would note that some of these updates are
pretty vanilla. They relate to a number of updates that


Bermuda House of Assembly have been made to other regulatory Acts such as the
Trusts (Regulation of Trust Business) Act and similar.
So the good thing is that the Bermuda Monetary Authority is well aware of all of these provisions and has
been using them for some time, probably since we started this general update 20 years ago. I would like to
add that we do have to be careful as we introduce new
regulatory provisions and powers into our framework. It
is not hard to get this wrong. But I do have faith in the
Bermuda Monetary Authori ty and my former colleagues
that they will get it right.
I will have some comments relating to the specific provisions when we go into Committee. But I equally would like to thank the Bermuda Stock Exchange and all parties who contributed to this work. It
is what is keeping our heads . . . it is what is keeping
our reputation as a country well above our competitors.
Thank you, Mr. Speaker.

Thank you, Opposition Leader.
Does any —
Minister, Minister Hayward. Before I got to the
question you were on your feet. The floor is yours.

Hon. Jason Hayward: Mr. Speaker, I certainly want to
thank the Premier and Minister of Finance for bringing forward this Bill. Also, I want to thank the team at the
Bermuda Monetary Authority for the work that they have done and the consultation that actually took place,
which made it abundantly clear what this particular Bill
sets out to do. And there is a consultation paper on
what the regulations set out and how the regulations
will support the principal Act, once [the amendment Act
is] passed.
As the Minister responsible for the economy
and labour, I am often asked by individuals who are seeking to domicile their companies in Bermuda, Why
Bermuda? Why Bermuda versus other jurisdictions?
And I begin with, Bermuda is a leading international financial services jurisdiction with a sound regulatory environment , and a first -class regulator. And in order for
us to maintain that reputation, we have to continue to
evolve with the regulatory standards that are out there.
We need to continue to set ourselv es and our jurisdiction apart from other jurisdictions who choose not to
adopt the same level of strength in their regulatory
framework that Bermuda has.
I often tell companies that Bermuda is not in
the “volume” game. We are in the “value” game. And
when a company is registered in Bermuda, it is a hall-mark as to the value that that company has actually
demonstrated by meeting Bermuda’s regulatory requirements. But Bermuda’s regulatory requirements
are not rigid. They have also been innovative, and they
are also flexible to facilitate further business growth and
development.
But for members of the public who may need a
better understanding as to why we continue to change
these laws, it is not about setting a set of regulations and then that is the end of the process. There is ongoing monitoring and supervision that actually takes
place. When we increase our framework, what it actually does is allow our regulators to identify and address
potential risks that could have systematic implications
for our entire economy. Bermuda has a strong reputation, and it is important that we maintain that reputation.
It is also essential for safeguarding the interests of consumers. Investors and shareholders place capital in
businesses. Consumers’ funds are also managed by
these businesses.
And it is important that we protect those individuals from potential risk —not all, but the ones that we
can clearly identify and mitigate against. A comprehen-sive regulatory framework maintains the integrity of
Bermuda’s financial market and our reputation . It also
allows us to remain competitive and keep up with global
standards that are actually set.
When we look at the overarching goal, it is actually to instil trust and confidence in our financial sys-tem. And that is what we are doing here today. We are
making improvements so that the trust and the confidence in Bermuda’s financial framework, our reg ulatory
framework and our business ecosystem, are actually maintained.
Mr. Speaker, when I am answering the question, Why Bermuda? it is another po int I also raise. And
that is the level of collaboration that takes place between the regulator and industry. It is important that the
regulator has the staff with the competence, who
clearly understand the industry and sectors that it is actually regulati ng. But it is also important that the industry has an opportunity to provide feedback and input
into the changes that we are actually making. What we
do not want to do is have a fr amework in place that
does not meet the needs of a business’s ability to operate.
And from a jurisdictional standpoint, Bermuda
has done an excellent job as it pertains to building that
relationship with industry on an ongoing basis, whether
it be in insurance and reinsurance (we are talking about
long-term insurance), whether we are taking about our
banking system, whether we are talking about other fi-nancial services. It is a strong relationship between our
regulator and industry that leads to many of the changes that we actually discuss in this House.
It is important that our regulator has the human
resource capacity that allows it to cultivate a deeper un-derstanding and insight into the industry. So not only that the regulations are set to regulate activities that are
currently taking place, but antici patory and proactive
work can be done to also support innovation and the
evolution of an industry sector.
The competent staff within the BMA are able to
do a deep dive into the prudential standards of a company with their ongoing supervision work. And I think
that is another unique feature of Bermuda, the level of
supervision that actually takes place on the ground and
the deep dive that those officers actually take into
350 9 February 2024 Official Hansard Report
Ber muda House of Assembly ensuring that companies are living up to the expectation and they maintain a consistent level of business operations. You see, a company can pose itself as one thing when it is seeking to domicile in Bermuda, and then those standards can deteriorate over time. So, su-pervision is extremely important as it pertains to ensuring that the standard is maintained throughout the period of that company’s operation.
Mr. Speaker, what you will find is that the Government, the regulator and industry, not just as we are discussing with this particular investment services [area] but in all other areas of our financial sector, continue to collaborate. And that is kind of the cornerstone
and bedrock of our regulatory ecosystem. And that is why Bermuda is looked at as a blue chip business des-tination with a strong reputation. Companies continue
to desire to domicile in Bermuda and operate out of Bermuda based off of that particular reputation.
That is only one piece of our overall value proposition, and as the Minister responsible for Economy and Labour it is my responsibility to ensure that we have an overall ecosystem that allows businesses to thrive and succeed. And this is one component of it. But
the other components are ensuring that we keep busi-ness costs down as best as we possibly can, ensuring that we have a skilled workforce so businesses can get the human capital they require in a timely basis, ensur-ing that Bermuda remains a safe place and the quality of life for those who live in Bermuda is actually maintained.
It is also my responsibility to ensure that I continue to focus on training and development of a competent Bermuda workforce that can actually (1) go into industry and drive an industry, but (2) support the work of
the regulator. And you will see as Bermuda’s economy
continues to expand and we have expansion of industry
there will be a need for a regulator to expand, the hu-man resources associated with the regulator expanding and the services that the regulator actually provides ex-panding as well.
So in conclusion, Mr. Speaker, I thank the Minister of Finance and the Bermuda Monetary Authority for bringing this Bill here today. It does serve as another notch in Bermuda’s belt as it pertains to our showing that we are a leading international financi al jurisdiction.
Thank you.
Th
e Speaker: Thank you, Minister.
Does any other Member wish to make a contribution at this time?
None other?
Premier.
Ho
n. E. David Burt: Thank you very much, Mr.
Speaker. Mr. Speaker, I am grateful for the comments from the Opposition Leader indicating the Opposition support. I am grateful for the contributions of the Minis-ter of Economy and Labour who has, like me, been on
the road making sure to tell Bermuda’s attractiveness for investments. And I think that the high standards that
we have with the Bermuda Monetary Authority, combined with the high standards of which this Government
has implemented making sure that we are internationally recognised as a compliant and cooperative jurisdiction amongst the many different assessments that we
have to undertake in combination with the Bermuda
Monetary Authority, stand this country in good stead.
So with that, Mr . Speaker, w ith your per mission
I move that the Bill be c ommitted.

Honourable Members, we are now in
Committee of the whole for further consideration of the
Bill entitled Investment Busines s Amendment Act 2023.
Premier, Financ e Minister David Burt, y ou
have the floor.
AMENDMENT TO CLAUSE 1
Hon. E. David Burt: Thank you very much, Mr. Chairman.
Mr. Chairman, I mov e that the title of the Bill be
amended to reflect the year 2024 and be read as the
Inves tment Bus iness [A mendment] Act 2 024.

Any objections?
No obj
ections.
Continue.
[Mot
ion carried: Clause 1 amended.]
Ho
n. E. David Burt: Thank you, Mr. Chairman.
Mr. Chairman, I would like to move all of the
clauses if I may.
Th
e Chairman: Continue.
Ho
n. E. David Burt: This might take a while to read.
Th
e Chairman: Yes.
Ho
n. E. David Burt: Thank you, Mr. Chairman.
Mr. Chairman, clause 1 provides a citation for
the Bill.
Clause 2 amends section 2 of the principal Act
in the definition of a “non -registrable person” by deleting the reference to “section 13D” and substituting a


Bermuda House of Assembly reference to “section 13(1)(b)” in order to remove the
duplication of the requirement that existed in both sections for persons to be designated by order of the Minister as a “ non-registrable person. ”
Clause 3 amends section 12(1) of the principal
Act by deleting the reference in paragraph (c) to “section 13D” and substituting the reference to “section 13(1)(b)” to remove the duplication of the requirement
that existed in both sections for persons to be designated by order of the Minister as a “ non-registrable person” and to provide for an additional restriction of not
carrying on investment business unless “designated as
a recognised body under Part IV of the Act.”
Clause 4 amends section 13(1)(b) of the principal Act by inserting a clarification that the section applies to those “for whom there is no requirement to be
licensed or registered under this Act.”
Clause 5 amends the principal Act by repealing
section 13D.
Clause 6 amends the principal Act by repealing
and replacing section 41(1A) in order to reformat the provision and replace the reference to “Financial Reporting” with “on Auditing. ” Section 41 is further
amended to insert a new subsection (1D) which intro-duces the requirements for investment providers to pre-pare financial statements in accordance with International Financial Reporting Standards (IFRS); Generally
Accepted Accounting Principles (GAAP) in Bermuda,
the United Kingdom or the United States of A merica; or
any such other GAAP as the Authority may recognise.
Clause 7 amends section 45(1)(a) of the principal Act to make the language in the provision clearer.
Clause 8 amends section 49A of the principal
Act by inserting a new paragraph (ba) to allow the Au-thority to conduct an investigation if “a recognised body
has contravened a condition imposed by the Authority on it in relation to the manner in which it may conduct any investment activity ;”.
Clause 9 amends section 52(1) of the principal
Act in paragraph (a) by deleting the reference to section
13D and substituting “section 13(1)(b) ,” and in paragraph (b) by inserting a reference to section 75E to extend penalties for the obstructions of investigations to a recognised body that is being investigated on behalf of the Authority.
Clause 10 amends section 55A of the principal
Act by inserting a new section 55A(8A) to extend pro-hibition orders to the performance of functions in relation to [ a recognised body as it applies to the performance of functions in relation to ] a regulated activity
carried on by a regulated person.
Clause 11 amends the principal Act by repealing and replacing section 65(1) in order to provide in
accordance with the revised terms for the purposes of
recognised investment exchanges and recognised clearing houses.
Clause 12 amends the heading of section 66 of
the principal Act to reflect that there is no requirement
for recognised investment exchanges and clearing houses to be licensed or registered under the Act. The
section is further amended in subsections (1) and (2)
by removing the reference to “exempt from” and providing that a recognised body is able to carry on, or purport to carry on, investment business in or from Bermuda without a licence or registration in respect of an investment activity carried on for the purposes of, or in connection with, first the provision of exchange services
where the recognised body is an investment exchange,
and second the provision of clearing services where the
recognised body is a clearing house.
Clause 13 amends section 67(1) of the principal Act in paragraphs (a) and (b) to make provision for
the issuance of a recognition certificate.
Clause 14 amends section 68(1) of the principal Act to make provision for an investment exchange
to apply to the Authority for a recognition certificate des-ignating it to be a recognised investment exchange.
Clause 15 amends section 69(1) of the principal Act to make provision for a clearing house to apply to the Authority for a recognition certificate designating
it to be a recognised clearing house.
Clause 16 amends the principal Act by inserting a new section 70A to impose fees to be prescribed
by the Authority for an application for a recognition certificate; for a fee to be paid to the Authority “on or before
the 31
st of March in every year after the year in which
the recognition certificate was issued”; and for an addi-tional fee in the form of a late penalty fee to be paid “of
an amount equal to ten percent of the fee due for every
month or part thereof during which the fee remains un-paid.”
Clause 17 amends the heading of section 71 of
the principal Act to align with the issuance of “Recogni-tion Certificates” and amends subsections (1), (4), (5)
and (6) by deleting reference to “order” to reflect the issuance of a recognition certificate by the Authority.
Clause 18 amends section 73 of the principal
Act to insert subsection (1)(c) to empower the Authority to make a rule requiring a recognised body to provide
[the Authority] with “information relating to the financial
soundness of the recognised body, including any material changes to capital and liquidity resources .” A new
subsection (1A) is inserted to empower the Authority to
make rules prescribing prudential and technical stand-ards in relation to a recognised body’s capital and liquidity requirements. A new subsection (9) is inserted
to provide for filing by a recognised body of information
and documents required in connection with a rule or
statutory return no later than 45 days after the end of June and December yearly. A new subsection (10) is
inserted to provide for a late penalty [ fee] to be imposed
on a recognised body for failure to file information or
documents in accordance with the rules. A new subsection (11) is inserted to allow for the Schedule to the
rules to be published on the Authority’s website and be available for public inspection at the Authority’s offices.
Clause 19 amends the principal Act by inserting the following new sections:
352 9 February 2024 Official Hansard Report

Bermuda House of Assembly • section 73A provides for a recognised body to
give notification of a change of officer or controller and for a recognised body to be liable to
a penalty if it fails to comply with the requirement to provide notification to the Authority;
• section 73B provides for a recognised body to
prepare annual audited financial statements,
make provision for the timeframe to file a copy
of the audited financial statements and audi-tor’s reports with the Authority and, amongst
other matters, make provisi on for the financial
statements to be prepared in accordance with IFRS or GAAP;
• section 73C provides for the appointment of an
approved auditor to audit a recognised body’s
financial statements, to make provision for a recognised body to give notice to the Authority
if it proposes to remove an auditor before the
expiration of the audi tor’s term of office or replace an auditor at the expiration of the term of the auditor’s office and to provide for failure to comply with section 73C to be an offence with
a fine of $25,000 upon summary conviction;
• section 73D provides for an auditor to communicate certain matters to the Authority,
which include (a) an auditor’s resignation before the expiration of the auditor’s term of office, (b) the auditor’s intention to not seek to be
re-appointed, (c) the auditor’s decision to include a modification of his report on the recog-nised body, and (d) to provide for failure to
comply with section 73D to be an offence with
a fine of $25,000 upon summary conviction;
• section 73E provides for a recognised body to
give written notice to the Authority of any pro-posal to amend its bye- laws and market or listing rules and to provide that no effect is to be
given to the proposed amendment unless the
Authority approves the matter.
Clause 20 amends section 74(1) of the principal Act to provide that the Authority may seek to waive
any requirement of the Act from applying to a recognised body.
Clause 21 amends section 75 of the principal
Act to (a) introduce the ability for the Authority to issue
directions where it has made a determination that it is
desirable to protect members or potential members or
it is necessary to preserve financial stability, (b) provide
for a direction to be modified or revoked and (c) provide
for a recognised body to make written representations
to the Authority.
Clause 22, Mr. Chairman, is rather long. But it
amends the principal Act by inserting the following new sections:
• section 75A introduces a requirement for a recognised body to provide the Authority (or such
person acting on behalf of the Authority as
specified in notice) with such information or report as the Authority may reasonably require for the performance of the Authority’s functions under the Act;
• section 75B introduces the requirement for a
recognised body to produce documents as
may be specified in a notice and provides for
any person who without reasonable excuse
fails to comply with the requirement imposed on him to be guilty of an offence and liable o n
summary conviction to a fine of $10,000 or im-prisonment for six months or to both;
• section 75C provides for any officer, servant or
agent of the Authority to have the right to enter
premises and obtain information or documents,
and further provides for any person who intentionally obstructs a person exercising such
rights to be guilty of an off ence and liable on
summary conviction to a fine of $10,000 or to imprisonment for six months or to both;
• section 75D provides to enable communication
to the Authority in good faith by an auditor, accountant or other person required to make a
report to the Authority to not contravene such
person’s duty;
• section 75E provides for the Authority to appoint a competent person to investigate and report to the Authority on the nature, conduct or
state of the recognised body’s business or the
ownership or control of the recognised body;
• section 75F empowers the Authority to impose
civil penalties for breach of requirements by a recognised body;
• section 75G provides for the Authority to give
the person concerned a warning notice and a
decision notice when imposing a civil penalty;
• section 75H empowers the Authority to publish
a statement, if it considers it appropriate, that a recognised body has contravened a requirement of the Act;
• section 75I introduces the requirement for the
Authority to give a recognised body a warning
notice if the Authority proposes to publish a
statement that a recognised body has contravened a requirement of the Act;
• section 75J introduces a requirement for the
Authority to give a recognised body a decision
notice with the terms of the statement if the Authority decides to publish a statement under
section 75H.
Clause 23 amends section 76 of the principal
Act to delete references to “order” and substi-tute “certificate” as appropriate.
Clause 24 amends section 77 of the principal
Act to delete references to “revocation order” and sub-stitute “issue a revocation, ” or similar wording as appropriate.
Clause 25, Mr. Chairman, is also long.

Mm-hmm.


B ermuda House of Assembly Hon. E. David Burt: It amends the principal Act by inserting the following new sections:
•section 77A provides for notification of new or
increased control by a shareholder [controller ]
of a recognised body;
•section 77B empowers the Authority to object
to new or increased control of a recognised
body;
•section 77C empowers the Authority to object
to a controller of a recognised body that the Authority no longer deems as a fit and proper person to be a controller of that recognised body;
•section 77D introduces an offence for a person
who contravenes the notification requirement
to the Authority of new or increased control as
a shareholder [controller ] of a recognised body;
•section 77E empowers the Authority to restrict
the sale of shares of a person who has contravened the requirement to become a controller
of a recognised body after the Authority has is-sued an objection;
•section 77F provides for the Authority to issue
warning notices in respect of a recognisedbody;
•section 77G provides for the Authority to issue
decision notices in respect of a recognisedbody;
•section 77H provides for the Authority to issue
a notice of discontinuance in respect of a decision not to take an action proposed in a warning notice;
•section 77I empowers the Authority to publish
such information about a matter to which a de-cision notice relates as it considers appropri-ate.Clause 26 repeals and replaces section 87(5)
and (6) so as to provide transitional provisionsthat are to apply to the Bermuda Stock Exchange Company in accordance with the revised requirements for recognised investmentexchanges.Clause 27 provides for consequential amendments to the Bermuda Monetary Authority Act 1969.
Clause 28 provides for the Minister to bring the
Act into operation by notice published in the Gazette.
Thank you, Mr. Chairman.

Thank you, Mr. Premier.
Any further speakers?
The Chair recognises the Leader of the Opposition, Mr. Richardson.
Hon. Jarion Richardson: Thank you, Mr. Chairman.
I wanted to bring to the attention of the Honourable Premier and Finance Minister a clause that has produced some problems in the market, specifically
clause 22, which will be inserting section 75G. I will read it out with your permission, Mr. Chairman, j ust so
that we can have some context to this? The Chairman: Go ahead.
Hon. Jarion Richardson: Section 75G provides for the
Authority to give the person concerned a warning no-tice and a decision notice when imposing a civil penalty.
The problem that this has produced in industry is . . .
So typically, the Bermuda Monetary Authority conducts
an onsite or sees something and then through that process, an investigation process, reaches a conclusion
that something is in such a state that it requires a pen-alty. The language around how bad that would be used
to be “systemic,” “serious” or “egregious.” It is now
“grave.” In other words, it is not something normal. So the Authority . . .and by this point, by the way, the Authority always tries to work with those in market. So if they are at this point, something is definitely happening.
With that being said, the principles of natural
justice apply. The person is not guilty until going through the process. Now, the warning notice comes to the person, that regulated entity. And they have 14
days by which to compile the information necessary to
make a representation to the Bermuda Monetary Authority, who then has 90 days to decide whether or not
to proceed with the penalty. Now, the Bermuda Mone-tary Authority at this point will have had 30, 60, 90 days, had some time to put together that case, as it were, for a penalty. And equally, after the materials are pre-sented under the warning notice terms, they are going
to have another 90 days to consider it. So they have
got a lot of time on their hands.
For the regulated person, the 14 days is not a
lot of time. Fourteen days, typically what happens is the regulated person receives that warning notice, obviously in an email or something like that. And not everyone within the company is necessarily going to be
aware of what is happening. So you have got a couple of days to brief everybody who needs to be briefed. You have got a couple of days to research it. You have got a couple of days to hire professional assistance because, trust me, you do not want to deal with these
kinds of matters by yourself or without some assistance. Then you have a couple of days of compiling and drafting.
And then it goes quiet for 90 days because, after all that, you really do not know what happens. It
looks very much like a black hole, even though it is not.
So 14 days is an incredibly short amount of time for a
person under the enforcement process to gather suffi-cient information to make a compelling representation to influence the decision- makers in the Bermuda Monetary Authority relating to whether or not to move into a
penalty.
I just wanted to bring that up to the Premier and
Honourable Finance Minister and members of the Bermuda Monetary Authority that in market when you ar-rive at this position, all of a sudden that company’s . . .
everything from their viability, how many people do they
hire, strategic projects, all of those sorts of things come
354 9 February 2024 Official Hansard Report

Bermuda House of Assembly into question because they are not sure what is happening because 14 days is just not a lot of time to do
anything in that space. I just wanted to bring that to his
attention. It is standardised language that is included
across a number of regulatory Acts. And I would hope
over time to make such application to the BMA and the
Minister of Finance that we would see that softening.
With that being said, that is the extent of my
comments. Thank you, Mr. Chairman.

Yes.

Hon. E. David Burt: And I think also, as the Opposition
Leader had indicated, that the time of the warning notice is not the first time that the company is aware that
there may be an issue. So it is not as though as if it is
14 days and it is the first time they find out. Because clearly, there are things that will take place prior to that
particular time.
But however, on a broader measure of these
particular matters, there is certainly a balance that
needs to be struck between the use of these enforcement positions and others. And I will happily take any submissions of which the Opposition may have in
which they may wish to advance or suggest any particular amendments or changes of posture. It is standard language across those [Acts], but I think we have to
make sure that we balance the enforcement provisions
to the supervisory provisions. And one thing tha t I do
not want to see is for us to become less supervisory and more enforcement -based, because from the Bermuda perspective, we want to handle things on a su-pervisory basis and do as little enforcement as possi-ble.
However, as we are talking about modification,
updating our rules and regulations, there is a need to incorporate enforcement provisions inside of these particular matters which were not previously there. As we
know IOSCO rules, they require you to do this. And if we do not upgrade our regulations, then we could be
out of compliance. And that is the one thing that we do
not want to happen with our international financial services sector. As the Minister of Economy and Labour
had eloquently stated in his submission on the principles of the Bill, it is our calling card and it is what makes
us stand apart.
So from that aspect, I will take the matters that
the Opposition Leader has under advisement, and I will assure him of the fact that, from the Finance Ministry
perspective, we want to make sure that the Authority is
operating in a manner that is best for the companies
that are operating in this space, that preserves our reputation, but also preserves us as a place where we
have a supervisory regime which works for business so
that they can grow and development in Bermuda.

Any objections to the Bill being reported to the House as printed?
There appear to be none.
The Bill will be reported.
But let me say first that we want to thank the
entire staff at the Bermuda Monetary Authority for the job you do in keeping us at the forefront of the international regulations. You guys do a great job. And I guess
that is why we are number one. I want you all to stay young!

Members, are there any objections to
the Bill entitled the Investment Business Amendment
Act 2024 being reported to the House as printed?
There are none.
The Bill has been reported as printed.
Members, that brings us to a close of the order
of business for today. So, we will now go to the third
reading.
Premier.

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 the Bill entitled the Investment Business Amendment Act 2024 be now read for the third time by its title only.

Well, the Deputy Speaker knows that in
order for this to continue, he has to be quick to catch
the Speaker’s eye, right? So he is giving a good example of how to catch the Speaker’s eye.
Deputy Speaker, you have the floor.

EXPLOITATION OF WORKERS

Hon. Derrick V. Burgess, Sr.: Thank you. Thank you,
Mr. Speaker.
Mr. Speaker, in Bermuda the Minister for labour and immigration has done a great job in shoring
up our borders, a first -class job. But no matter what we
do, regardless, there will be some who will violate our
laws. Mr. Speaker, I am informed (I do not hav e the evidence, but I will speak on a general basis) that we have
356 9 February 2024 Official Hansard Report

Bermuda House of Assembly folks who come to Bermuda and visit three months, six
months, whatever the law requires, and they are moonlighting. They are working. And this is illegal because
we believe that, yes, they are working. Some of them
are working. And they are probably not being paid the $16.40 as required by law. And then we have others
who come. They have almost like a cartel; it is organised. And I know the Minister is concerned about these
things and doing everything he can to try to correct this
here. But we still have it , Mr. Speaker.
Mr. Speaker, I am also concerned about the
exploitation. The Government is concerned about the
exploitation of workers, some being paid less than
$16.40. In fact, we encountered one person just this
week. And the employer told him, You are a contract
worker. Well, I asked him. I said, Does the employer
require you to make a certain time? He says, Yes. I
said, Just based on that you are not a contract worker.
But not only that, paying them less than the $16.40. But
we advised that worker to take all of the complaints, information that he has to the Labour Department and have that fixed because there is a penalty under the law
that people who are not abiding by the law can be fined,
Mr. Speaker.
So, I am hoping that those folks who are still
trying to exploit labour . . . Because one thing I do
know, Mr. Speaker . . . I did not plan to go here because
inflation only came about when they had to start paying
people for working. One time in the history of the world,
there was no inflation because labour was free. And so
even though labour is being paid today, there is sti ll the
disparity between workers of certain categories. And so
that behaviour is still there where people want workers
to work for nothing or as little as they can get them to
work for.

CUSTOMS ACTING OUTSIDE
OF THE SCOPE OF THE LAW
Hon. Derrick V. Burgess, Sr.: Now, Mr. Speaker, on
another note, I have had some folks contact me about the behaviour, the practices, the customs. Mr. Speaker,
we have a couple of young Bermudians, ones whom I
know of in particular, who bring in what they call the CBD, which is legal. But Customs takes his shipment.
And consequently, he cannot sell his goods. But they
allow a more potent form of this particular . . . they call
it drug or plant, THCA. They allow that in Bermuda. And
that is not even on the books; it is unlawful! And they
are advertising this stuff in the city, Hamilton and just other places. They are selling this stuff, Mr. Speaker.
We know Customs has certain powers by the
Act. But we seem to think that they are taking ad-vantage of their powers. Because, Mr. Speaker, I have
another gentleman who brings in goods. And they confiscated his goods! And they did not give him any rea-son for why they confiscated his goods. Then they
come out with [the reason] that the goods that he brings
are counterfeit. You know? And there is no certificate of authenticity for goods that do not ordinarily have certification. But they took his goods. They held it for . . . I
think his first lot of goods [they held] probably as long as eight months, and then they gave it back to him. And
then he brings in more goods; they did the same thing! And then they put the onus on him. They came to the
conclusion that these goods are counterfeit, and they
put the onus on him to prove that they are not. It makes
no sense, Mr. Speaker! This is against the law, Mr.
Speaker.
Then one of the goods that he brings in, there
is no prohibition from being brought into Bermuda under the Act. But they confiscated those goods also, Mr.
Speaker. Customs are acting outside of the scope of
the law in seizing goods! And they have no legal authority to do that. They just cannot read an Act and just
put a blanket on everything. Even though they asked this young man to prove that these are not counterfeit,
they let all of the others bring the same goods in, and
there is no requirement, their goods have been confiscated, and they wreak havoc with this guy’s business.
That is unfair, Mr. Speaker.
I mean, their grounds for suspicion of being
counterfeit are not even found in law, Mr. Speaker. Mr.
Speaker, this is happening only to certain people. We
agree that if it is a law in place, we all have to abide by
it. But they just cannot seize people’s goods and do as they like and put these people out of business. And
then others can bring in goods, and they do not have
any requirement.

STRATEGIC OVERSIGHT GROUP
BREACHED SECTION 71 OF THE CONSTITUTION

Hon. Derrick V. Burgess, Sr.: Mr. Speaker, let me
speak on one other subject. And it could be a little
touchy in a sense because this information was re-vealed in the courts last year, late last year in a case
where we have what they call the SOG, the Strategic
Oversight Group. This is a group chaired by the Deputy
Governor, Mr. Speaker, a member of the FCO [Foreign and Commonwealth Office], the DPP [Director of Public
Prosecutions] and the police. But, Mr. Speaker, they
have contravened, and the reason I am speaking, they
have breached our Constitution, section 71 of the Constitution. Because they are up there deciding on who
they are going to prosecute, who they are going to investigate. They have no right to be interfering with the
DPP. The Constitution is very clear on that!
But how can they want such respect for themselves when they are breaching our Constitution? I have a problem with that, Mr. Speaker. And I just could
not let that go without making some fuss about that, Mr.
Speaker, because you know, I can recall some people
have been prosecuted, some are not. And we wonder.
We had a top auditor found with stolen police files in his
possession— no prosecution. We had another top officer of the previous Government who obtained information illegally. No prosecution. And we wo nder, did he


Bermuda House of Assembly obtain that information for the SOG? Because the record shows —revealed in the courts, public knowledge —
that that particular officer met with the SOG.
And we should not have anybody down here
interfering and breaching our Constitution, specifically
from the FCO and Government House. Now, as you
know and I know, the Deputy Governor answers to the
Governor. And that is the only reason I am calling the
names is because it is public knowledge, Mr. Speaker.
They are out there breaching our Constitution. And we
should be annoyed at that b ecause that Constitution
Order was put in place the 2nd of June 1968, agreement
in Bermuda and the UK ! And nobody —nobody —Government House, the largest house on Langdon Hill, the
occupants, FCO, should not be interfering with the
DPP, Mr. Speaker.
And the question I ask is if that SOG made the
major decision to arrest Zane De Silva. We know they
made the decision to prosecute Dr. Brown. And I venture to say because this investigation went all around
the world. And we had investigators going and liv ing in
and staying in some of the most luxurious hotels in the
world at our expense, over $10 million spent. And, Mr.
Speaker, they are breaching our Constitution to
achieve whatever they want to achieve because Dr. Brown and the Government allowed Uyghurs in this
country.
So, Mr. Speaker, with those few remarks,
thank you for allowing me.

Minister Hayward, would you like to
make a contribution at this time?

PROGRESSIVE LABOUR PARTY
COMMITTED TO THE PEOPLE OF BERMUDA

Hon. Jason Hayward: Thank you, Mr. Speaker.
Mr. Speaker, this week was somewhat of a
“feel-good” week for me and the office of the Ministry of
Economy and Labour. This week in one of the ILO’s
international communications, they actually published
that Bermuda’s apprenticeship framework meets
standards and exceeds these standards and they are actually pleased with the work that we have been doing around apprenticeships. It is good to get international
recognition for the work that you do in terms of the development of your people.
Then I had an opportunity to meet with representatives from the UNDP [United Nations Development Programme] who are here on a mission to support a project which actually supports women obtaining
greater levels of resources and capacity -building for
small and medium- sized businesses and accelerate
the [number] of women in Bermuda in the entrepreneurship realm.
But one point of notice that they said [was] that
they go around countries and they assist countries with putting together economic strategies and development
strategies and policies. And in that meeting they took the opportunity to comment on Bermuda’s very comprehensive economic development strategy. And they
said that that the work that we have already carried out
is the work that they have to do in a lot of territories and
jurisdictions that they actually have c ontrol over. And
so, [that] is another ext ernal endorsement of the work
that we actually do in Bermuda and the high calibre of
the work that we are actually doing within our jurisdiction.
I spoke today about the young man who received his Red Seal certification and I also spoke today about the young individuals who progressed through
the Graduate Training Programme, the fourth cohort,
and actually graduated. But what is more important to
me is not just that the programme was administered in
a successful way. It was listening to the testimonies of the young people who were actually the beneficiaries and recipients of the investment.
Mr. Speaker, it was me, standing in the front of
an audience and glancing and looking at the proud par-ents of those individuals who were able to obtain things honourable of a recognition. And when we sum it up,
that was just one feel -good week, but the Ministry of
Economy and Labour, at the end of 2023 put out an end-of-year review and it contains a plethora of work
that this Government has done to enhance Bermuda’s social and economic well -being. Oftentimes the initiatives that we do don’t get the level of public recognition
and we still find ourselves [at] a point where we are explaining to people what this Government done for them.
Notwithstanding that, the Ministry of Economy
and Labour will not be deterred in our responsibility. As Members of Parliament, the Progressive Labour Party will not be deterred in our responsibility because at our
basic level we are human beings trying to improve the
lives of other human beings whether they fully recognise it or not. The title of “politician” comes with both
positive and negative feelings. It is positive when you
can look at your politician and see that that person is working hard on your b ehalf. And it is negative sometimes when things do not work out your way or you ex-pect greater from the persons who you voted into Parliament.
But when we progress past feelings, we have
to begin to talk about some facts. Facts around what has actually been done and how our public officials
have actually carried out their responsibility to the electorate. And so we have, in the Ministry of Economy and
Labour, strengthened social protection for those in
need. Last year was a good year. We implemented our first statutory minimum wage at $16.40. Mr. Speaker,
that has impacted the lives of thousands of employees.
Not only do these employees retain $16.40 now for
every hour worked, but also for paid leave. This $16.40
is also applicable. No, that does not come to the pleasure of some employers. But certainly, when we are talk-ing about ensuring that employees work in dignified
workplaces and do not engage in precarious work, that
$16.40 minimum wage goes a long way. They say who
358 9 February 2024 Official Hansard Report

Bermuda House of Assembly feels it knows it. And I am confident to stand here in
front of you today to let you know, Mr. Speaker, that
thousands of people in Bermuda feel it and they know
the benefit of that $16.40 minimum wage.
Mr. Speaker, we also amended the law last
year to ensure that employees are protected from employers who choose not to pay them their service
charges and gratuities which are due to those employees. That benefits thousands of workers, Mr. Speaker.
Thousands of workers will now benefit from that particular provision. Over the next few weeks we will roll out other guidance notes in alignment with that, just as we
rolled out guidance notes today. And that law will come
in place on the 1
st of March 2024.
Mr. Speaker, while Financial Assistance is no
longer underneath my remit and is now under the remit
of the Minister responsible for Youth, Social Develop-ment and Seniors, this Ministry did execute on a number of changes to financial assistance and was able to
successfully come to this House and pass legislation
that will undoubtedly improve the lives of mainly our seniors who will be the beneficiaries and recipients of
the changes that we have made in the realm of financial
assistance. We have increased awards for financial assistance. We have changed eligibility requirements. We
have made it easier for persons to receive gifts and get
additional support that they may require.
And so, these are the things that we actually
sign up for. We can essentially say that we have committed to improving the lives and well -being of individuals. And those persons who will receive those increased financial awards will benefit from the work that
this Government has done. And that is not hundreds of individuals, Mr. Speaker, that is thousands of individuals. Thousands of individuals will benefit from increased social protections that this Government has
put in place.
Mr. Speaker, we move into talking about how
this Government has deliberately amended [the] child day care allowance to ensure that more families have
access to that particular benefit. Some complain that
families, that households that have an income of up to
$130,000 receive a $500 benefit. But that is our role
and responsibility. We should be supporting universally
every child and every family who has a child at this time
where we are suffering from lower birth rates and the
cost of living continues to inc rease.
Mr. Speaker, it is our responsibility as a Government to put social protections in place. It is our responsibility as a Government to maintain the social ethos that is attached to the Progressive Labour Party.
And this is not about a handout. This is about empowerment. This is about assisting children on their development continuum. This is about providing our children
with access to the appropriate childcare at an early
stage in their life so that they can be on a pathway to success from a very early age.
Mr. Speaker, I am pleased that we have established the Department of Labour and I am pleased that we now have an Acting Director, Ms. Gabrielle Cann,
who is administrating the work that the department has
to do. But that department is important because it al-lows us to promote labour standards and the fundamental rights at work, ensure that we have harmonious
labour relations, strengthen our compliance, monitoring
and enforcement provisions of our labour code, and advance further labour policy initiatives.
Mr. Speaker, the Honourable Member MP Burgess spoke about infringements to our labour laws. It is important that we have robust compliance and enforcement mechanisms in place. And that department will be
ultimately responsible for that oversight. It is not good
enough to just put a law in place, Mr. Speaker, we must
have the team who enforces the law to provide confidence to employees when they make a complaint. We
do not live in a society where we can just simply rely on
employers to do the right thing. It has been proven, Mr.
Speaker, over and over again, that some employers will always try to circumvent the standards that we set in
the workplace. [ They] will always try to circumvent paying employees the rights and privileges [that are due] which we have enshrined in law. We have an Employment Act in place which creates a minimum standard.
And since the enactment of that Act, there have been employers who have tried to wiggle their way around
paying the provisions in that particular Act, or afforded
workers the benefits that they are actually due.
And so to ensure that employers and employees are both informed about their rights and privileges
in the workplace, we published Employment Act guidelines to make it easy for employees. We published in-dependent contractor guidelines so people cannot continuously be abused as independent contractors when
they are actually employees. This takes place in both
the private and public sector and we need to ensure
that we do a better job at ensuring employees are classified as employees and are paid the benefits t hat they
are due from their employment relationship.
Mr. Speaker, from an immigration standpoint,
we continue to work to strengthen compliance. The
Honourable Member MP Burgess highlighted some observations that he found in terms of people who come
to Bermuda and determine that they will work illegally. That is something that this Government does not support, and it is something that this Government will not
tolerate and so we have put the 180- day provision in
place because we found that persons were living here
as residents, staying for 180 days, leaving for 48 hours
and coming back and staying another 180 days. And
when you ask how those individuals [were] sustaining
themselves, they were obviously working illegally. And
so we have put that provision in place to stop that, but
we have also strengthened the c ompliance so that
when complaints are made we can get to the location
of the complaint quick enough to see if we can actually
spot and catch individuals who may be working illegally.


Bermuda House of Assembly But the public has been doing a good job because they now take pictures and send enough information where we can make the appropriate investigation and actually catch persons. And when persons are
caught, Mr. Speaker, you can guarantee they are placed on t he stop list. We must preserve the livelihoods of Bermudians and it is being compromised by
people coming here and working illegally. That is something that we certainly will not tolerate and this is also
why we have changed the law to ensure that we have
the visa requirements in place so that persons are ap-propriately vetted before they actually land in Bermuda.
Mr. Speaker, I spoke heavily about the work
that we are doing [with] Workforce Development and so I am not going to lament on the work we are doing to
progress our people along a development continuum so they can take advantage of current and future job
opportunities. But what I would say is that the development of our people is a core focus of any strategy that
we have. It is part of our Economic Development Strategy, it is part of our national youth strategy, it is part of our social development strategy and we will continue to
invest in our workforce because it is important for us to
increase our working population. And in order for us to
increase our working population, we need able- bodied
Bermudians being productive members of our workforce.
Mr. Speaker, they asked us whether or not we
have an economic plan. We have produced an economic plan. We are executing on that economic plan.
And Mr. Speaker, every single time I give an economic update since the release of that plan, and even prior to,
our economy continues to expand. There is no recession in Bermuda. And while I appreciate that the purchasing power of Bermudians is diminishing, and we
have to do a better job at containing the cost of living in Bermuda, we cannot refute the fact that our economy
is growing, business activity is increasing. We have
surpassed pre- pandemic levels. And as our economy
expands, it leads to greater levels of employment, and
it increases the opportunities that Bermudians have to
be successful in the world of work.
As the Minister responsible for Economy and
Labour, I am continuously on the road (whether it be locally or internationally) speaking about Bermuda’s
value proposition and ensuring that we have a business
ecosystem that allows businesses to thrive. A busin ess
ecosystem that actually expands employment opportunities for the people of Bermuda.
Mr. Speaker, the Progressive Labour Party has
been committed to the people of Bermuda. Some peo-ple talk about a magic time that will come where we
have to stand in front of the electorate and be judged.
All I ask the public to do is judge us on the work that we
have done.

[Desk thumping]
Hon. Jason Hayward: Look at the work that we have
done, make an honest assessment, and judge us on
that work. And if we are honestly judged on the work
that we have done, Mr. Speaker, I am 100 per cent confident that the Progressive Labour Party will remain the
Government for a long time coming.
Thank you.
[Desk thumping]

Thank you, Mr. Speaker.
I will continue on where the Honourable and
very good Minister just left off. And he said, judge me
by my deeds. And indeed, there has been work that
goes unnoticed sometimes.
Mr. Speaker, I remember a time when Bermuda did not have fast ferries and introduced fast fer-ries. And it was at a time when education was a hot
button . . . well, education is always a hot -button topic.
I will get to education as well. And when those fast ferries were being commissioned and built, it made for
great political discussion. I know [because] I partici-pated in it. It was easy to say, Well, I can take that $5
million and apportion it somewhere else. It is very easy
to say that. And it makes for good coverage. And it gets good headlines. Where would we be today without fast
ferries? In fact, do we need more? Yes, we do. We certainly do. Would they be beneficial? Absolutely! Because what came after fast ferries? [There] came the
next big hot -button topic. There came the need for a
cruise ship pier and one was finally built, two actually,
in Dockyard, and they did not cost $1 million [or] $2 million. They cost several million dollars. Because at that
time Bermuda was a boutique cruise ship destinatio n.
We used to have two in St. George’s.
I see sometimes one that size come into St.
George’s, from time to time. But they do not make that many ships like that anymore. Someone said they might go back and start building some more boutique
ships, but because the world moved in a different direction you see these megaships and Panamax ships.
That was the talk . . . I am going back 20 years now.
The talk, Mr. Speaker, you will remember it. Those
were the names. But they came here. Why? Because
while folks were tickling up the Government on building
the cruise ship [pier], while they were calling into question different people who were building it (or whatever),
360 9 February 2024 Official Hansard Report

Bermuda House of Assembly I have not heard anyone [say], Let’s dismantle those
cruise piers up in Dockyard.

[Inaudible interjections]

I have not heard not one
person say . . . and I am one, Mr. Speaker, that . . . I
will declare my interest. I am in the hospitality industry and I certainly am trying to do my part to get more people to come by air to Bermuda. But in the absence of
hotel beds that slipped from 12,000 down to about 2[,000] . . . that’s a big difference, where would be without those two cruise piers in Dockyard? Inquiring minds
want to know. That is what it takes when you have a
vision , because a vis ion and prosecuting a vision takes
time. It is not immediate. Persons are looking for the
immediate. Cruise ship pier [and] fast ferries are two examples of a Government with a vision that is benefiting this country today.
I remember the CEO of Inter -Island Communications when he was a Government Minister with the
same Government, the PLP Government. And the
same Premier who ushered . . . and former Tourism
Minister that ushered in those fast ferries and those
cruise piers, came with an idea that we want to advance an aquatic centre in Hamilton. Oh boy! That one . . .
that one caught shape , you know. And the vision also
called for dormitories there to house persons who might come to Bermuda to play football, might come to play
netball, might come to play cricket, may come to play
different sports. And it made for great political fodder as well.
Now we have persons who will come to Bermuda deliberately to train for sport. We had in January, between December 28 and about January 5, the HU.
You know, Howard [University] came to town with about 50, expecting me to know everything when you radio ever ything about Howard. I come from Troy! I am
not supposed to know all the history of Howard! But the proud alumni came here in great numbers. And where
did they go? To the National Aquatic [Facility]. [They]
stayed at Grotto Bay.

Well, you know, I am getting there, Mr. Speaker. I am here to tell you that some-times when you are prosecuting a vision, people will
shoot you down and stand in your way and prevent that
vision from realising immediately, but those who have
a vision will prosecute it if it is in their heart. They will do it no matter what because they know it will yield
good. And these . . . I have given you three examples
already. And you can go back if you want to research and look at all the criticism. And not one of those persons will come up today and say we can do without any one of those three.
You know, Mr. Speaker, the Honourable Minister of [Economy and] Labour was just speaking about what he saw happen just this week. And I was . . . happened . . . very unknowingly walked into something that
he did, very positively. The young man, Jomeko Mal-lory, while receiving the Red Seal . . . I heard the Seal,
I was thinking . . . the first seal I think about . . . I come
from White Hill. I was thinking about Black Seal. But he was talking about the Red Seal of approval around the
world to chefs. And it did not happen . . . it did not happen yester . . . you know. We come up with this vision
and we are going to do this . . . it took people who knew
the benefit of it. That young man and his success story at the Hamilton Princess, first coming from Fairmont
Southampton, being culminated with a celebration,
happened because the PLP always believed in uplifting
its people and cou ld celebrate that.
But guess what happened? It . . . you know . . .
you . . . I cannot organise things the way the good Lord
can. I walked in on that set. When my vision was being a vision that I have had, when other people bought into it. Troy University coming to Bermuda. Yes, I am going
there! It did not happen this week because somebody
thought of it last week. I was the commencement address speaker in 2010 when the golf was lobbied to be
at Troy. They took out the football team, who is now Division 1, took away our half -hour golf tours to build a
stadium. Go talk to the Chancellor . He gave me the [microphone] and in that speech in 2010, I lobbied. That
same chancellor, the oldest chancellor in the longest
service . . . not the oldest, the longest -serving chancellor in the United States of a public university in 2012
gave me credit for lobbying him for the new and improved golf facility that they built at Troy University.
So sometimes people buy into a vision. And
thanks to the US Consul General, and Mr. Sohail Agboatwala, the vice chancellor, and Bailey Corbin, and the Troy team led by Dr. Jack Hawkins for seeing what
Troy has to offer through one of its alumni who went there and graduated in 1980. They can partner up with
our country to meet our needs. A university that spread
around the globe 50 years ago on all United States bases. A university that diversified when base closures happened like it did in Bermuda. And went online long
before the pandemic came. When the pandemic came, they went to Troy to be able to see how they do it. Trying to poach away our top IT people with a lot of money.
And they are here now, and they have courses in hospitality management. That really excited me a few
years ago.
So we have been pushing that agenda. And
guess what happened? After I got there and had a . . .
and got the chancellor to meet our wonderful Minister


Bermuda House of Assembly for [Economy and] Labour, we are in the car driving
back to the hotel so he can go and catch the plane to
leave and I get a call from my cousin, who is the chairman of the transition team of Sandys Secondary
School. What is it called? Sandys Sec . . . no. It was
called Sandys Secondary Middle School because of
the vision of [Minister] Diallo [Rabain] and the education team, it is now called Sandys Secondary High
School Signature Schoo l for Hospitality. Heard me on
the radio . . . and they called me up and t hey said, How
can we partner up with this? And you got up there and you got things like the Willowbank and you got people
like Dr. Bassett who I have worked with all my life. And
so, when the Minister talks about being excited when a
vision comes together, and the good Lord knows that it
has good deeds behind it and it is coming from people’s
hearts, He will put things in place to help that vision. And no weapon formed against us will prosper.

[Inaudible interjections]

And we do things when
people are sleeping. And no, it is not glitz and glamour,
but it gets you results when it is time. And it is time now!
For some of these things are lining up. At a dinner . . .
and I always run events . . . [Annual] Ladies [Pro- Am]
Golf Tournament coming to Bermuda to celebrate the 25 years at the Pompano. Great resort up there. The same event started in St. George’s with a country boy
who hired two women in 1985 as golf professionals. Women were second- class citizens in golf when I came
into the industry in 1980. In 1985, I hired two women as
golf professionals.

So uplifting women is not
only a responsibility for women’s rights advocates.
Women’s rights advocates must exist within the male
realm, especially by those like Minister Weeks spoke
about. Those of us who have daughters would know
how important it is. Those of us . . . all who have mothers will know what it is.
And I can tell you I have heard stories with this
Troy initiative that has warmed my heart. They are at a
dinner at Justice Wade- Miller’s house with the US Consulate there and the Minister of Education. You know,
the Minister of Education comes under a lot of criticism.
The Troy [University’s] First Lady —and might I say, our
Troy Chancellor and his First Lady had a first -hand . . .
personal relationship with Rosa Parks. The Rosa Parks
Museum sits on Troy University’s Montgomery Campus. [It] opened in 2002. I was there in 2010. I used to come down and talk with the chancellor. They built it with [Rosa Park’s] specifications. A school that . . . with
a chancellor who presided over the [Alabama Institute
for the] Deaf and Blind up in the north of Alabama [and]
was called there. Why? Because he is a caring man.
And I am telling you, it does not stop there. The
great Congressman John Lewis, the connections that
we are getting through Troy . . . you heard me always
talking about the boy from Troy. The real boy from Troy was Congressman John Lewis, five miles away from
the campus, Pike County, who could not even enter the school in 1957, but he was eulogised by the same
chancellor who changed the name of Bibb Graves
[Hall] to John Lewis. And he said that in all those years
I must have gotten extra bright to get honor ary doctorate here since 1957.
That is the type of connection we have here
with Troy with having a risk management programme
where most of the hurricane coverage and remediation
for devastation is paid from premiums that trace back
to this country! Connections! Relationships! You know,
Mr. Speaker, I have been talking about the need in tourism for us to build relationships before we go out there
and put it out there, blanket . . . come to the . . . people
have to know something about Bermuda.
I have travelled more in the last few years, using all my years’ experience to realise that our awareness level around the world is not what it used to be.
And in my few years left of life, if that, I will commit to
using, leveraging my relationships local ly and internationally to help Bermuda. And I have seen it . . . I have
seen this week here in Bermuda on Zoom with friends
in Edinburgh . . . oh boy, and in Florida, and all over the
world to see the benefits of that. And we have collectively, with my good friends up in Yorkshire, started a
Bermuda UK [and] Ireland Golf Links Society with the
express purpose of going to people, former relationships both in Bermuda in the winter and over in that
area in the warmer months, so that we can cross -pollinate. And while I call it “golf,” people said, Why do you
talk about golf? But before I was a golfer, Mr. Speaker,
you would know I was a goalie . You would know I was
a captain of a football team that won the championship
for Berkeley for the first time in 1969, 19 70 with the
great legendary Randolph . . . my skipper.

Oh, yes! We took them out!
And we took them out twice!
362 9 February 2024 Official Hansard Report

Bermuda House of Assembly And national captains came out of that side and
we beat national captains on the other side. Oh yes! So
when I talk about golf, I do not go to Yorkshire and not
see what could happen in football, what could happen
in netball, what could happen for cricket because just like in Bermuda , boycott . . . is a golfer. Sobers in Barbados, is a golfer. We cross -pollinate. So that’s why we
are educating.
You know, the greatest education we need
right now is a little bit of etiquette too. And you know the First Lady of Troy came and she was talking there, and she really fell in love with the . . . in a real way with the
Minister of Education. She was enamoured by his passion for education. She really was! With his charm and
all of that. And she even said, Look, , I might put you
on the ticket for an educational post down there . . . and
the like.
[Laughter]

And I say that because
when you are doing things in the best interests of people sometimes, you know, it is easy to look past the
person at what the real commitment is. And the alignment of Sandys Signature School with the hospitality degree and the reason why I came to the Princess, because when we had the function at the US Consulate I
invited hoteliers there. Someone came up and [asked], Why did you invite all those hoteliers?
I said, What is the sense of having a hospitality
degree person here, what is the sense of having a per-son who has a risk management degree here and not
invite people who could see the benefit? And Mr. Tim
Morrison saw the benefit and invited me to show him
his property before he left. And showing him before he
left, I walked right into . . . because I was supposed to
go there at 8:30 and got stuck in Front Street traffic. I said, I am not going to be late on the station break. It’s
not getting me like that. And then I got in the station
early, and with my minute . . . my 30 minutes, I am going to just going to leave you with this. When I walked in the station 20 minutes early, I looked and I said, My,
my, my. There is Beverley Howell! A nurse. And I told
her what had happened with Senator Joan Dillas -
Wright, and she could not believe it.
We need nurses in the world, but we need
them in Bermuda. And what better would [there] be for
us to encourage some of young ladies and men to take
up nursing and put a path in place for them to realise
that dream. Why? Not because we think it is a good idea today. Because things have been done by this
Government in the past that has been vision- oriented
initiatives that when other people come in that think like that, you can take it and run. And when you have persons who would call you all types of names, who would
spend all types of money to lie against you . . . Right?
That is what they do. Without a vision, without any real
care and without any direction. But I am here to say, no
weapon formed against us will prosper. Thank you, Mr. Speaker. That is my 20
minutes.
[Desk thumping]

Mm-hmm.

PROGRESSIVE LABOUR PARTY CLEAR ON ITS
MISSION AND ITS VISION FOR BERMUDA

Hon. Walter H. Roban: Thank you for the opportunity
to speak.
But I must say again, I am grateful for the impassioned presentations that I have listened to today
by Members of the Government. It clarifies once again
that this is a Government that is clear on its mission,
clear on its vision for Bermuda, and clear on its purpose
to reinvigorate the economy, to create opportunity, to
ensure safety and security for everyone, and to lay the
foundations for a future success of Bermuda for every-one, in caring for our seniors, the health care of the
country, for the educati on and development of our
young people, and for the aspirations that this country
may have for the future.
Mr. Speaker, I am certainly enthusiastic about
what I have heard today, but not only what I have heard today, but what I have been hearing as I go up and
down the country. People are going through a number
of things. We know that. And we are here early in 2024,
coming out of 2023, which we know was a very wet
year for us. But there are other things going on, certainly globally and otherwise that we have to make note
of. There continues to be challenges with not only coming out of the experience of the pandemic but some of
the other economic uncertainties that have even
emerged since then which centre around the conflicts
around the world, sluggish activity in some of the major
economies. But not without progress. Progress is being made. And certainly progress is being made here in
Bermuda.
The Minister for Economy and Labour and the
Minister of Finance have talked about the progress,
have detailed it, have shown the data that supports the
progress that we are making, and Bermuda is moving
in the right direction. The Minister for Economy and Labour had just talked about how we have had international validation for our economic recovery and economic strategy plans. Our ratings with the rating agencies have been reaffirmed. And we are on our way to a
balanced budget in an environment that reeks of certain uncertainties. We are passing legislation that
brings certainty to the environment that people work in.


Bermuda House of Assembly This Government has managed to keep a lid on taxes
and the tax exposure of persons and at the same time
still achieving fiscal objectives.
So, the landscape is being set. There continues to be work that needs to be done, Mr. Speaker. And this Government is focused on that. I remain extremely
proud of so many of the accomplishments that we have
achieved over this period, Mr. Speaker. Members of
this Government continue to go overseas, as is necessary. It is ironic the so called criticisms we see about
this, but the reality is that we live in a world where we have to go where the prosperity exists and bring it to
Bermuda, whether it be in the UA E [United Arab Emirates], whether it be in the Asian continent, whether it be
in North America or the Caribbean, we have to go
where the prosperity exists and bring it home. It is not
just about going to London, to New York, Paris any-more— or to Ottawa or Toronto. We have to go f urther
afar to ensure the long- term prosperity in Bermuda.
And as we know with the continued development in the international sector, that is what has been happening. We have whole new sectors within the insurance and reinsurance market that have emerged in
the past few years, different from what it was 10 years
ago. Bermuda is seeking to be a provider of climate risk
solutions, as the issues around climate continue to increase and develop globally. And using the experience
that we have developed as a well -regulated jurisdiction
that has a leading position in the i nternational marketplace around insurance and reinsurance and providing risk solutions generally, we believe that we can be that capital for specialising in climate risk solutions.
And I am so happy with the news, particularly
coming out of the Ministry of Economy and Labour around the training, that the recent report tabled by the
Minister which shows the wide impact that this Depart-ment of Workforce Development is having on the eco-nomic environment. Doing its best in trying to skill up
Bermudian labour, to take advantage of the opportunities of the future, and what opportunities are here now.
And I look forward to the Minister and his team continuing to push that information out, to show people what
is being done as we prepare to reignite our hospitality framework.
As we prepare to ensure that we have the necessary people trained in our health care reform, as the
health care sector begins to reform to [provide] universal coverage there is going to be a lot of need for expertise that can provide not just health care at BHB but
throughout the community in providing services to our
seniors who are an emerging population, growing population. They are going to need services not centralised. They are going to need to have services provided
to them in their homes. They are going to need support
of caregivers, not just family, but other persons specialised. There are so many opportunities that we can ac-tually focus on and see are coming.
Mr. Speaker, a few other things I would like to
speak about other than what I have seen as so many positive accomplishments. We are focusing in on our
youth. The Minister of Economy and Labour talked
about how we have a clear Youth Employment Strategy. But we are looking to ensure that our youth have
opportunity. And this is obviously a very difficult eco-nomic environment for doing certain things. We know
that housing is an issue. And one of the great ways to
incentivise the youth investment in your communi ty is
to know that they can invest perhaps in property and real estate as their own income and employment opportunities develop.
So we know that there are challenges on some
ends to ensure that this particular group does not find
the ease of migrating out of the country as an easy option. But they can see the opportunities here in their
own country, as many of us who proceeded them found
for ourselves. We know these are things we must focus on. Not only as a Government, but also as a community, creating pathways for younger persons who are
eager and interested in being a part of their community,
to be able to invest in their communit y and find their
place in the community successfully.
But, Mr. Speaker, I would like to talk about a
few other things because there is much that we can say about the accomplishments of the Government and I
am sure in the weeks ahead as we enter into the
budget, we will hear more about the things that the
Government has planned for the country, and the positive things that in this upcoming budget we intend to
ensure is accomplished. But there are a few things I
would like to focus on.
Issues of energy security, issues of food security are very crucial to any community. As the issues of climate change and changing environment affects everyone, these are matters that are important. Particularly
as we are an island that has to rely on importation of
most of our food and that is not going to change any
time soon. We do not have enough land to grow everything. Everybody knows that. But we can do more. And
there will be work being done to ensure that this happens. In working with the farmers of today but also the
farmers who will come tomorrow to ensure that Bermuda has the greatest opportunity to do more in these
areas. So, we will do our best to ensure that the most
modern technologies, the most modern methods and work that is being done now with Home Affairs and the
Ministry of Economy and Labour will be revealed in due
course as to what those plans are around supporting
the Island’s effort at greater food security and greater agricultural prosperity and bringing more entrance and
activity in to the area of agriculture.
In the area of energy security —very important.
The world is now going through a transition of moving
away. And the results of the recent COP28 Dubai conference, a couple of months ago, made it clear that the
commitment globally is to move away from fossil fuels.
Bermuda, thank fully, is on that path. It is not going to
be an easy path. It is going to be perhaps at a level, an
expensive path. But it is a path that we are committed
364 9 February 2024 Official Hansard Report

Bermuda House of Assembly to knowing will serve our people. And will serve this
community better in the long term, so that by 2050 we
can be as close to net zero as is possible to have clean
energy available to everyone.

Mm-hmm.

Hon. Walter H. Roban: And as the energy dynamic
changes, so will how it is provided to our country. Many people are adopting solar as a part of their home sort
of energy needs. This is going to change the dynamic on how energy is provided in the country, over time, as
more houses and more facilities benefit from the use of
renewable energy. It is going to change how energy is
used, how energy is consumed, as it has been over the
past 100 years. But we also must be mindful as individuals that we must be cons ervation minded, ecologically
minded. Because there are things that we can do individually to ensure that our energy bill . . . and Bermuda
has a very high cost per kilowatt hour, one of the highest, if not the highest, in the region. Certainly compara-bly high as other islands like us that are faced with having to import oil. We must ourselves not only look to the
big solutions, b ut also look to what are the small solutions, the least cost solutions for ourselves and some
of that means us changing our behav iour.
I will encourage the public, Mr. Speaker, to actually go get their LED bulbs. For quite a bit of time my Ministry has been promoting (with the support of the
Government) a free LED initiative. A considerable number of bulbs were purchased by the Government t o distribute to the whole Island so that every household in
this country [would] have the benefit of what LED bulbs
and LED electrical lighting can provide. One thing we know, Mr. Speaker, as soon as you install that type of
lighting in your residence or i n your building, you begin
to save money, immediately. So, I can say right now that there are still quite a few LED bulbs available for
the public to benefit from that are deposited at our post
offices around the Island. They are free and available.
And in itially we were looking to just ensure that one
household got a set but now because we have so
many, persons can go back to the post office and get
more. You fill out a little form right there, give it to the post office personnel and you can take your set of
bulbs. I encourage people to go and get them. As energy costs are a part of the issue of the cost of living in
this country, I am encouraging and I am asking people
to go to the post office and get your free bulbs and put
them in your light fixtures. Y ou will save money! There
is no doubt.
But we also must work on how we can begin to
manage demand- side usage of electricity. And there
are little things you can do. And we will have more information about that, whether it be putting timers on
your heaters, whether it be putting different types of light fixtures which allow lights to turn off when no one
is in the room. There are other types of efficiency types
of products that one can buy which are low cost that can help manage your demand and ensure greater efficiencies so that you save money. Because we do not
want people to be constantly in a situation, whether de-ciding, Do I keep on the electricity or do I pay for my
medicine or my food? That cannot be the situation
where . . . because power is just as an essential for survival as are many other things in this country, particularly food and particularly medicine for many people.
And when it comes to food . . . just to touch on
the issue of food, Mr. Speaker, this Government has
[made] a considerable effort to try and deal with the is-sues around the cost of food. But the reality is that there
[are] limited things that the Government can do as most
of the food is imported. It comes from other jurisdictions
where it is grown, which have their own issues with pro-duction and with demand. And everything comes on a
ship—the cost of shipping, the cost of landing, the cost
of transport —are pieces that the Government cannot
control. But what can be controlled on Island is people’s
awareness of the cost that they are confronting at the
checkout counter. I encourage persons to be vigilant
with observing the cost of what they are paying for as
they go to the grocery store and to hold our grocery
store operators to account. If you see prices and things move erratically, question it. It is not a crime or a violation to question, Why is that head of lettuce so expensive this week from last week, or last month? Why is
this product, particularly . . .
Most people buy similar products, their basket
of goods, on a regular basis. So, you can monitor and observe. I would say yes, question, query. And if you
see something that you have a concern about, send it
to the Consumer Affairs Department. There is a C ost of
Living Commission which currently is tasked with monitoring. But remember, we have . . . there is a whole
suite of goods, fresh vegetables and staples, where the
Government has put them at zero duty. Just a reminder [to] the people. Fresh vegetables and fruits and certain
key staples are at zero duty right now in an effort to assist the public with these costs. So be mindful of that.
Just as a reminder so that when you go to the store and
some of these staples that you yourself buy on a regular basis , you are seeing these prices go erratically,
speak to the proprietor of the store. Why has this gone
up so much when it is zero duty? They should be able to answer you, frankly, if you are finding that.
We all have the power of the purse in our
hands as well. The power of our pocket. The power of our wallets. The power of our purse. It is still there, and you can decide whether you are going to buy something or not. Particularly if you have a concern about
the price you are paying, or the quality of the good that
you are receiving. And I encourage every member of
the public to take on that vision. It is not about trying to
point out anybody who is nefarious or not. It is about
having control over our expenditure, having control of
our lives and ensuring that we are able to live affordably
in this country. And the Government will continue to put
in measures and look at ways that we can help. We are


Bermuda House of Assembly constantly looking at these things. But I encourage
each member of the public to use the power of your
purse, the power of your pocket and the power of your
own advocacy to ensure that you make the best decisions around these issues of the cost of using yo ur
electricity, the cost of food and what you spend and
manage yourself accordingly. And make decisions that
can help. And you can get help because there are people in the Government, agencies that can help in giving
you guidance in these things.
But we have done a considerable amount of
work, Mr. Speaker, in these areas. We will continue to
be vigilant because we know that these are issues that
our public is struggling with right now, with the cost of
living. It is a challenge. It is a challenge here in Bermuda. It is a challenge globally. Anybody who travels
sees that these are not issues that we are alone with. And I look forward to continuing in this work with my
colleagues who are here. Whether it be our solutions
for housing, our solutions for care for our seniors, our
solutions on education, our solutions on creating opportunities for different sectors of our community and continuing to tell the Bermuda story globally to show why
we are a wonderful place to be and why we are so
proud of being here.
Mr. Speaker, thank you for the opportunity to
speak and I look forward to the next opportunity.
[Timer chimes]

Thank you, Deputy [Premier].
And I do not see anybody else rising so I will
go ahead and rise. That brings us to a close of today. We thank you for the participation of Members who are here.
And before I close, let me just acknowledge the
fact that I think that everybody would have appreciated
that our sound system was a lot clearer today. All the
[microphones] are working.

Thank you.
And I just want to acknowledge the work that
was done while we were out to update . . . to correct
the faults, and to thank Mr. Lamb for overseeing that
and the team who worked with him to ensure that we
had a better quality of sound today. Thank you for that.
Members, the House now stands —
[Audio cut out before conclusion]

[The House stood adjourned until 10:00 am, Friday, 16
February 2024.]

366 9 February 2024 Official Hansard Report

Bermuda House of Assembly


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