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Island turns a corner

Brighter future: The America’s Cup is one of the many exciting opportunities boosting Bermuda’s economy

The One Bermuda Alliance was elected to fix a crippled economy that had robbed thousands of their livelihoods and placed a mountain of debt on the shoulders of the next generation of Bermudians. With Bermuda facing a $330 million deficit and more than $134 million in debt interest payments when we took over the reins of government, we knew rebuilding the economy wouldn’t be easy.

We, like the vast majority of Bermudians, understood that putting our island on a new and better path towards restored confidence and opportunity would take time.

But we all knew it had to be done. Together we are getting the job done, and the island is turning a corner:

• Bermuda has finally worked its way out of “The Great Recession”

• Today, more than $100 million has been cut from the deficit, without cutting government jobs

• Today, key sectors of the economy are growing with positive trends in construction, retail, real estate and company formations

• Hotel developments are taking shape across the island, with the St Regis project in St George’s soon to break ground

• More than $50 million in financial assistance has been made available this year to help people to make ends meet

• The America’s Cup is working for Bermuda, creating jobs and rental incomes for dozens of homeowners, primarily in the West End

• The airport will break ground this year, creating even more good-paying jobs for hundreds of Bermudians

We appreciate that voters used the recent by-election to keep the pressure on us to complete the job as quickly as we can.

We have heard their voices and we understand. Every member of the OBA is working hard to reassure those voters, along with every Bermudian, that we have the knowhow, discipline and experience to continue restoring economic recovery to the island.

We’ve still got a long way to go to complete that task, but we must realise how far we’ve come and how much closer we are today than three years ago.

This Friday’s Budget will show that this government is making real, tangible progress towards an economy that works for Bermudians victimised by recession, and that extends into every household across the island.

Can we communicate our progress better? Of course, we can. And we can assure every Bermudian that we will continue to look for ways to better connect their communities and families with the work we are doing on their behalf.

I urge anyone who doubts that commitment to call any one of us — MPs, senators and ministers. Let’s keep talking because we are asking a lot of Bermudians on a lot of big issues — bringing an end to things that no longer work and moving into new areas that will work.

That’s not just change; it’s change for the better.

• Lynne Woolridge is the chairwoman of the One Bermuda Alliance and a government senator