Dear Sir,

After 40 years in both local and international business, working to improve opportunities for all Bermuda neighbours, brothers and sisters, I am compelled to state my case for collective consideration.

Until we are able to address the realities of our repeated and continuing bouts of “economic suicide”, our island will never create the growth, job opportunities and job security that we seek. No one can or will win.

Here’s why. Job opportunities are created through economic growth, but growth requires capital and investor confidence that a return can be made when investing.

Investors the world over avoid countries with political instability and corruption. Capital investors seek opportunities where there is a high level of stability and a confidence in due process and the rule of law. When the doors of the people’s parliament were nailed closed and elected servants of the people were threatened publicly each day through international and local media, faith in the stability of our system was seriously undermined.

Collectively, our actions were economic suicide, immediately decreasing the likelihood of additional opportunities for future growth for Bermudians. How unnecessary.

Economic suicide in Bermuda was best demonstrated when we forced Marriott Hotel to close 25 years ago. Through our labour actions and our public demonstrations, confidence was eventually lost by investors in the entire Bermuda hotel industry.

The industry went into free fall and tourism has arguably never recovered. We lost hundreds, if not thousands, of jobs over the years as a result. No one won, Bermuda lost; industry workers lost their jobs.

A simple case of economic suicide. Since then we have spent decades trying to rebuild confidence in our tourism product. Only very recently have there been reasons for some hope.

The reasons for the Pathways Bill were not explained well enough by the Government, but from a business perspective the reasons for this proposal were clearly driven by pure economics.

No matter the political party, Bermuda must accept that to create jobs we must first prevent further population losses, the loss of needed taxpayers and the loss of job creators.

We desperately need to broaden the base to pay down our huge national debt. Bermuda’s economy will continue to shrink without spenders and job creators.

We must therefore grow our population to create opportunities and jobs. Business understands that this is simple and critical economic reality.

To be continued ...

BERMUDIAN BUSINESSMAN