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The perils of fiscal irresponsibility

The operation of good government relies on the same principles of management as in any complex organisation. As organisations mature, so, too, must their hierarchy reflect the principles of good governance.

Sir John Swan, a National Hero, was the Premier of Bermuda from 1982 to 1995

Bermuda has a hard-earned reputation for being a jurisdiction that welcomes complex and well-managed companies which operate at a global level. But now we see the present government flying in the face of conventional wisdom and concentrating powers in the Office of the Premier.

I have mentioned before that the offices of the Premier and finance minister have awesome powers, and it should be troublesome to all Bermudians that such power should now be vested in one person.

We live in a time of global volatility, which threatens to reinforce divisions in access to education, healthcare and employment. We do not want our children or those yet unborn becoming the lost generations who see the stability of our island eroded by global inflation, jobs eroded by changes in business practices and hopes eroded by a loss in confidence in our government.

We have heard of many dubious transactions and agreements, which conceal the true state of affairs of the government finances, and these have come to a head with the recent resignation of the finance minister. This state of affairs causes the public to have a lack of trust in the competence of the government.

These perilous times call for a strong leader who leads by example and shows his Cabinet, his party and his electorate that he can take appropriate action that will lead us through tough times. Concentration of power in the hands of one man unfettered by the checks and balances of good governance will lead to further decline and will not be our way forward.

We all need to work together with a common consensus to save ourselves.

Sir John Swan, a National Hero, was the Premier of Bermuda from 1982 to 1995

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Published April 19, 2022 at 8:00 am (Updated April 18, 2022 at 9:41 pm)

The perils of fiscal irresponsibility

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