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‘We have prevented this recession from being even worse’

Patrice Minors

The recession could have been worse had it not been for Government action on the economy, according to the Progressive Labour Party.Speaking at yesterdays’ Alaska Hall press conference to highlight PLP platform initiatives and achievements, Economy Minister Patrice Minors said that her party’s policies and initiatives prioritised employment of Bermudians and stood in stark contrast to the “failed and discredited philosophy of austerity.”“While others have beaten the drum for radical cuts and promoted the failed and discredited philosophy of austerity, The Progressive Labour Party has stood strong on the belief that investment in our people, investment in our infrastructure and investment in our communities are the best ways for our country to move forward together,” Mrs Minors said.“We are facing the worst global economic conditions since the Great Depression of the 1930s and while Bermuda is truly another world, we have also been affected with many of our neighbours, friends and family members struggling to find work and finding it tougher and tougher to provide for their families.“We believe that by investing in our people, protecting social programmes and jobs within the civil service from drastic and radical cuts we have prevented this recession from being even worse.”New Economic Empowerment Zones, a payroll tax relief training scheme for apprentices and a $1.15 million unemployment fund to “retrain and re-skill” the unemployed were among the programmes that had helped put the brakes on the recession, according to Mrs Minors.Other measures included establishing an unemployment register, adjusting immigration policies and establishing the National Training Board skills assessment programme, the Minister continued. She also cited the Hustle Truck programme which was set up to “assist casual workers to become more skilled and active participants in the island workforce,” the Woodshop Training programme and the Economic Round TableAnd, Mrs Minors said, educational opportunities for civil servants had been increased by expanding scholarships for mature students. “A lot has been done, but as long as one qualified, capable, competent and willing Bermudian is unemployed our work remains unfinished,” she said.Platform initiatives include the One Stop Career Centre, the residential Job Corps programme and increasing the lending capacity of the Bermuda Economic Development Corporation. But the governing party also plans to expand continuing education opportunities at the Bermuda College so that more Bermudians can seek careers in international business, develop a “New Business Initiative through the Bermuda Economic Development Corporation” and “improve regulations surrounding the debt collection process.”Mrs Minors said: “Our economic recovery plan is making progress. “Our Economic Empowerment Zones in North Hamilton and St. George’s have helped entrepreneurs create new businesses and helped other businesses stay afloat.”Asked for evidence of economic progress, Mrs Minors said: “You’ll definitely see it once we are successful at the polls. But I think what we have done is indicative of the fact that we have a plan.”Ms Cox said that there were 600 new companies and new businesses and entrepreneurs in St George’s and other areas.“There is increased confidence and people are stepping out and also setting up businesses.”The Premier said the “critical aspects” of the PLP platform were its “red carpet” programme for returning graduates, New Business Initiatives, economic diversification and its renewable energy initiatives to reduce the cost of living.Entrepreneurial opportunities in renewable energy had captured the imagination of many,” she said. “The Government has to use its tax policy also in regards to customs relief and other concessions in order to grow that business.”According to the latest employment survey, there are 10,000 Bermudians unemployment or underemployed.