Term limits get term limited

Cayman's ends term limits:

"It is my opinion, as Minister for Financial Services with responsibility for economic development, and it is also the view of the government, that the policy needs to be re-examined," Bush told the Legislative Assemblyin a statement delivered at the end of the most recent meeting.

He said that he believed the continuation of the term limit has led to a decline in all sectors of the economy and negatively affected jobs for Caymanians.

Meanwhile in Bermuda....the PLP's Walton Brown pens a howler of a column:

It is without question that the global economic crisis has more significantly weakened our economy than anything done locally by this Government.

Without question? Really.

Here's a question:

Did Switzerland see a decline in (re)insurance capital, jobs and company formation since 2008 as Bermuda has? And remember, it's a global financial crisis that hit reinsurance not anything specific to Bermuda's political environment.

What was the Swiss contingent touring Bermuda's pitch to prospecitive redomicilers:

A) Actively soliciting highly skilled highly paying executive jobs
B) Stable political environment
C) Low tax jurisdiction (but higher than Bermuda's)
D) All of the above

Here's another:

Did Ireland, whose economy is far more fragile than Bermuda's was at the time, see an exodus of reinsurance jobs, companies and capital since 2008 as Bermuda did?

Or did Ireland and Switzerland benefit from the corporate and job exodus from Bermuda which just so happened to coincide with the due date of term limits on their key executives, the knock on effect being massive associated job losses in all sectors of the economy, particularly construction and international business?

It doesn't bode well for Bermuda when people in positions of influence and policy making proximity are so uninformed or disingenuous.

It's time for some honesty. Cayman's just engaged in some.

Time for our Government to do likewise.

Their signature policies have hurt Bermudians. Time to fess up.

| More

Archives