OBA’s $165m gamble costing Bermudians dear
By all indications, when the Dunkley administration decided to gamble with $165 million in taxpayer's money, they knew that the Morgan's Point project was on shaky financial footing. That begs the question; why take such a risky, high-stakes gamble with so much of the people's money?
One can only assume that the One Bermuda Alliance, having broken so many promises, faced so many protests as a result of their anti-Bermudian policies and seen the defection of two of their founding members, found themselves in a state of desperation, and like all men drowning they reached out to whomever they thought could save them; a big announcement, a loud press event and a flashy photo-op, promises to Bermudians of a new hotel, new jobs and new opportunities, was an irresistible prospect for the OBA.
In their desperation they put short, and what eventually were shown to be unsuccessful political gains, over the public purse and the best interests of Bermudians. They gambled big and now we have all been forced to face cleaning up the former non-contrite finance minister's mess.
The repercussions of the OBA's irresponsible and reckless gamble are far-reaching.
First, there are Bermudian companies and Bermudian workers who are owed money. Second, our standing with global ratings agencies have been threatened.
Third, by backing a tourism project with so many problems, the OBA have also made the job of attracting more tourism investment to our shores even more difficult. A real mess.
Yet Bob Richards, the former finance minister and the author of the mess has declared if he had to do it again he would do nothing differently.
In real terms though, they have made life more difficult for Bermudians. Just imagine where we would be if we didn't have to clean up the OBA's $165 million mess?
Money that could have gone towards educating our people, training and retraining Bermudian workers, scholarships, building new schools, supporting our youth and providing relief to our seniors; all lost.
The OBA paid the price for broken promises and anti-Bermudian policies at the polls. Now they need to come clean about the Morgan's Point deal and why they gambled with the future of Bermuda and against the best interest of Bermudians.
• Michael Scott is the Progressive Labour Party MP for Sandys North (Constituency 36)