The Bermuda Democratic Alliance (BDA) has raised serious concerns about Government's "cavalier attitude" towards the increasingly perilous situation Bermuda now finds itself in as the national debt reached approximately $20,000 per person.

The BDA's concerns were voiced in response to Auditor General Heather Jacobs Matthews' comments on Government's 2008/09 Consolidated Fund audited financial statements released this week, which revealed that Government faced a range of financial challenges going forward such as a weakening cash position reflected by a substantial bank overdraft, expenditures significantly outstripping revenues, increasing long-term debt and a growing deficit and public debt.

The report disclosed that Government expenditure soared from $720.2 million in 2003/04 to $1.2 billion in 2008/09, easily outstripping revenue, which climbed from $705.5 million to $952.8 million over the same period.

BDA MP Shawn Crockwell hit out at the way Government had been spending its money, with consolidated debt fast approaching $1 billion.

"The Alliance is especially worried about the Government's cavalier attitude towards the increasingly precarious situation in which Bermuda finds itself," he said.

"Bermuda needs to wake up and wake up quickly to this issue. As our consolidated debt approaches $1 billion, this in fact means approximately a debt of $20,000 for every man, woman and child.

"It is simply shocking that although Government revenues have continued to increase, expenditures have risen at twice the rate. The Minister of Finance has all but admitted she has no control to reign in the spending of various Ministers, with the latest example of waste, albeit small in the grand scheme of things, is the $800,000 being spent on consultants to get rid of the Corporations of Hamilton and St. George's.

"Where are the priorities? It would seem that whomever shouts the loudest gets to spend the most in this Government. It is high time there was a reality check. The Alliance believes in Government that is fiscally responsible: careful in its spending, honest in its financial reporting and works for the betterment of our people. We have not seen this from the current Government."

Mr. Crockwell warned that the Ministry of Finance was obliged to resource and deliver Government's strategic objectives sustainably and in the public interest, while ensuring that public money was safeguarded at all times and used appropriately, economically, efficiently and effectively, adding that Government could no longer blame the previous Auditors General and the economic downturn for all of the financial woes it has incurred.

"This is not happening," he said. "The Government has attempted to transfer the blame many times.

"They blamed the former Auditor General by accusing him of being politically biased and labelling him a racist to blaming the worldwide economic down turn. However, the lack of prudent fiscal management began before the economic downturn and there is a new Auditor General who is equally scathing about Government's spending.

"By recklessly overspending during a period of economic expansion, the Government has now hamstrung the country to deal with this recession. We demand there is accountability.

"It is time for the Minister of Finance to come clean to the people of Bermuda about the staggering problems and end the double speak and blame game. Bermuda must be prepared for a very rough ride, particularly as the construction boom comes to an end."