Breaking News: BDA would examine potential privatisation of some Civil Service roles
Parts of the Civil Service could be privatised to cut Government costs, the Bermuda Democratic Alliance said today as it outlined its economic strategy for the Country.
At a press conference, the BDA’s Shawn Crockwell said the Island’s economy was in a precarious state with Government spending more than it raised in revenue.
He said Government had an $850 million debt — or $25,000 for every taxpayer — and that capital projects such as the new Dockyard pier and Police/court building were coming in way over budget.
But the MP said the party had a plan to address the problems in the short and long-term which included examining potential privatisation of some roles or tasks performed by the Civil Service and reviewing payroll tax to stabilise or reduce the cost of living for lower income earners and small businesses.
Mr. Crockwell said: We are dependent, more than ever, on international business at a time when many of our flagship exempt companies are showing a lack of confidence in our economy, some of them choosing to relocate. Two-thirds of Bermuda's business leaders expect things to get worse.
We have a plan to steady the ship — to repair Bermuda's economy and to ensure we can once again flourish on a global scale. Our plan will assist Bermuda to not only recover from this current economic downturn, but emerge as the international economic centre it once was.
* Full story in tomorrow's Royal Gazette.