Where did it go? – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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Where did it go?

September 14, 2011

Dear Sir,

It is patently obvious that the PLP are scared witless about upsetting any more voters so will do nothing positive for Bermuda before a General Election, but I still want answers from our “transparent and accountable” Government.

Since coming to power in 1998 the PLP Government has received around $10 billion from the Bermuda taxpayer. That is $1 followed by ten zero's, $10,000,000,000 or ten thousand million dollars. This is probably more than the UBP received, inflation adjusted, during its entire 30-odd years in power. Not content with the windfall of a thriving international business sector they inherited and then milked to the point that that particular cash cow is close to being destroyed, since Eugene Cox passed, the PLP managed to spend over a billion dollars more than they received from the Bermuda taxpayer. Borrowed from overseas, we are now spending around $200,000 every single day just to pay the interest on these loans. That is a lot of lost job opportunities and lost support for those in need.

The PLP Government have managed to spend an average of around $2.3m every single day they have been in power compared to about $1.5m per day for the UBP Government at the very end of their tenure. We all know about the questionable capital projects, favouritism and nepotism claims, but they account for a relatively small percentage of the overall monies spent.

My questions. Where has all that money gone? How much can be accounted for? Did the taxpayer get value for money? Most importantly, if it cannot be all accounted for, what is being done to find the rest?

I'm not holding my breath for a Government response.



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Published September 15, 2011 at 9:00 am (Updated September 15, 2011 at 9:52 am)

Where did it go?

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