Chamber economics committee calls for credible fiscal plan
Economics Advisory Committee co-chair Diane Newman added her voice to those in the business community recation to the OBA victory.
She said a credible fiscal plan was the first step in restoring economic growth for the country.
Ms Newman said: The Economics Advisory Committee is pleased that the new government supports much-needed controls on public spending and has outlined a plan to reducing public debt — moves that are long overdue in addressing the problems facing the economy.
The OBAs platform, which includes a formal public debt management plan, as well as the possible freezing of the civil service and initiating a ten percent pay cut for government ministers, has already resulted in positive comments from the Fitch Rating Agency.
If the new Government can successfully carry out these steps, it will begin to rebuild Bermudas credibility with our lenders and with others who are considering investing in or doing business in Bermuda. A credible fiscal plan is the first step in restoring economic growth for the country.
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