Michael Fahy believes Bermuda’s economy can only be saved if Government owns up to its failings but he thinks we’re going to be waiting a long time for that to happen.“Be ready for the Premier to blame a worldwide downturn for the problems we face, rather than her own failings to manage the public purse,” the Bermuda Democratic Alliance finance spokesman said in a statement for The Royal Gazette.“Be ready during the Budget debate for the Government to blame everyone and everything but themselves to explain their overspending, terrible oversight of capital projects, qualified audits and a ballooning Civil Service without regard to proper and sound fiscal management.“We can also look forward to the Government saying that everyone else is predicting doom and gloom, especially those in the Opposition, and that the Government is practically perfect.“We truly hope these predictions are wrong.”In what seems certain to be his party’s second and final Budget, Mr Fahy said Premier and Finance Minister Paula Cox must accept responsibility for the position Bermuda’s finances are in today.“Paula Cox has, after all, had control of the Country’s finances for quite some time,” he said.“It is important that the voting public remembers, if cutbacks happen, public sector job losses are made and/or Civil Service hours reduced and public services cut, that the reasons for this fall squarely at the feet of the now Premier.”Explaining how he believes the economy can be saved, Mr Fahy said: “First and foremost the Government must acknowledge that they have done a poor job in fiscal management in the last number of years.“Our view is that you must recognise the problem to be able to fix it.”He said any hopes of spending on social programmes, improving crumbling infrastructure and free health care for are a far cry from today’s reality, and urged Ms Cox to make hard if unpopular decisions.“Bermuda simply cannot afford to go on with business as usual,” he said.“The obvious starting point which is, and will be, politically unpopular, will be to slash the size of the Civil Service and/or cut back the hours of the Civil Service to save money.“When approximately 50 percent of the Budget is spent on salaries this is a starting point.“Private business is doing it without corresponding moves by the Government. A reduced private sector work force means less payroll tax collected.“A complete freeze on Civil Service new hiring is also obvious and a slashing of consultants is an absolute necessity across Government.”The BDA has called for Ministers to lead by example by taking pay cuts, reducing the Government car fleet, freezing non-essential travel and capping all personal expenditure reimbursements.“If we are demanding that our police drive in used, clapped out cars, why should our Ministers drive around in pristine vehicles and park with impunity around the City of Hamilton?” he asked.Other BDA Budget ideas include:l undertake a competitive analysis of similar jurisdictions and review the work permit process;l defer duty collection until goods are sold to stimulate the retail sector;l establish a ‘low income’ payroll tax bracket for businesses with employees earning $50,000 or less;l introduce worker cooperatives and promote new industries in an effort to diversify the economy, employment, and Government revenue streams;l support development of Hamilton as a dynamic residential and cultural hub;l incentives for companies with workers living in Hamilton;l relocate Government services to St George’s and Southside to boost the income of the town and reduce Government rental of office space in Hamilton;l freeze or roll back payroll tax to encourage spending locally;l incentives to international business to increase foreign currency reserves through higher earnings;l raise sin taxes and property tax.Mr Fahy said Ms Cox should easily meet her proposed $150 million savings given the “massive waste” in Government.But he warned: “More will need to be done than a $150 million cut. That is where the going gets tough and the tough get going.“We will scrutinise the Budget and give the people of Bermuda alternative ideas during the debate. It is no time to be a cog in the wheel.”