Bermuda's crisis of confidence

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In these times of spiralling national debt and momentous economic and social changes, we are in a “crisis of confidence”. The symptoms of this crisis is all around us:

l Businesses having difficulty meeting obligations

l Job shrinkage in local and international businesses

l Redundancies resulting in rising unemployment

l Fear of unemployment for those in the workforce

l Insufficient jobs available for summer students

l Inability to send children overseas for further education

l Insufficient jobs available for returning university graduates

l Inability to secure tenants, resulting in fear of losing homes

l Decrease in rents, resulting in inability to pay mortgages

l Strain on marriages, resulting in divorce

l Increase in grocery costs, resulting in more people showing up at meal distribution sites

The erosion of our confidence in the future is threatening to destroy the social and political fabric of Bermuda. There is a growing disrespect for government, politicians, business leaders, churches, the news media and other institutions. This is not a message of happiness or reassurance, but it is the truth and it's a warning.

The crisis of confidence strikes at the very heart and soul of our national will. For the first time in our generation, a majority of our people believe that their children would not be better off than they had become.

Confidence and progress in the future has supported our public institutions, private enterprise and even our own families. Confidence has defined our course and has served as a link between generations.

Our people are losing confidence not only in government and other institutions but in the ability of fellow citizens to serve as the ultimate leaders and shapers of our country.

Restoring confidence and trust in ourselves and Bermuda is now the most important task we face. It is a tremendous challenge for this generation of leaders. One of the immediate tasks of the current generation of leaders is to understand the scale of change that the world is undergoing together with the ability to articulate change and to offer some guidance to the average citizen.

As expectations change and entitlements diminish, the process of Government, the private sector and the labour movement must also change if we are to rebuild confidence and trust in our country and ourselves.

Often many important sectors of our economic and social well-being act as centres of resistance rather than factors of change. The pace of social and economic change leaves us with little option but to uniformally embrace change. In these uncertain economic times, we must decide by counting not what is wanted but what is needed.

In these extraordinary times we need to regain the confidence and trust of the public by being sensitive to other opinions and seek to embrace and not alienate. We should rededicate ourselves to a firm code of leadership principles which should include the highest personal and public values.

As leaders we have the burden of the public expectation and we should maintain their confidence and trust by doing what is right for the overall good of Bermuda.

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