Premier Paula Cox urged the Progressive Labour Party to restore the Country's faith as she pledged to look out for all factions of society.

Delivering her first PLP annual banquet speech at Fairmont Southampton, Ms Cox said her administration would cater to business needs as well as the workers'.

"We have to restore faith in our promises," the Premier told around 600 party members on Saturday night. "Not just for one faction of society, but for all.

"We can't just be pro-labour; we have to accept that we can be pro-business too.

"I believe our Government has a central role to play in influencing how our people see their Bermudian future. Trust is vital. People who don't trust you don't believe in you.

"If we are able to come together as one, openly and honestly engaged in the business of transforming Bermuda, I believe we will encourage our people to have faith in the system that runs their Country and the leaders who run the system."

Ms Cox said Government has to focus on the needs of its citizens, saying the new Procurement Office will ensure contracts are handed out on a fair and consistent basis and that capital projects are handled according to the best international practice.

"Let's not shirk the challenge.

"Let's not lose faith in ourselves and risk the Country losing faith in us," she said.

In a calm and collected speech, the Premier paid tribute to defeated leadership candidate Terry Lister's willingness to serve on her team, as well as former Premier Dame Jennifer Smith, who sacrificed her Speaker ambitions to return to Cabinet as Education Minister.

She said Thaao Dill had shown great maturity accepting he had lost his place on the Senate, and touted another former senator, Marc Bean, as a man of ideas as he bids to replace former Premier Ewart Brown as the MP for Warwick South Central.

"The seamless transition that's marked the peaceful selection of the new party leader speaks volumes about the political maturity and stability of our jurisdiction and our people, and it underlines just how blessed we are in comparison with other jurisdictions around the world," she said.

Repeating her message that it won't be business as usual under her money-saving administration, Ms Cox warned: "It won't always be plain sailing, and it's so that anyone who's popular is bound to be disliked.

"Indeed some of the decisions of this new administration may not be everything that everyone has hoped for. But that, after all, is the nature of decision-making. It can seriously harm your popularity, but then again I'm not here to be popular."