Better late than never.
Settle in, it's a long read, but it's well worth reading. I'm going to revisit some specific sections, because it methodically addresses many of the initiatives which are great headline generators but become far less appealing once a little scrutiny is applied (ie. interest free loans) while putting the PLP economic policy into the global context needed:
The 500 interest-free down payments to first-time Bermudian homeowners is an intriguing idea. Under this plan, the new home will be 100% financed: X per cent with the mortgage and Y per cent the interest-free down payment. Our questions is: How does this borrower pay all this debt back? The interest-free down payment does have to be paid back does it not? If a person can qualify for, say, an 80% mortgage, but cannot find the 20% down payment, how likely will he be able to afford the servicing of the mortgage and the down payment simultaneously? This dream could become a nightmare. We look forward to the Government's explanation of how they will make this plan work.
