A British MP who monitors the British Overseas Territories expressed concern over the “big black hole” of Bermuda’s national debt and advised Government: “Get your house in order.”Andrew Rosindell arrived on Monday for a three-day fact-finding trip in his capacity as Chairman of the All Party Parliamentary Group on the British Overseas Territories.He is staying with Governor Sir Richard Gozney at Government House, and his first meeting was with Premier and Finance Minister Paula Cox.Asked about his initial impressions of Bermuda, he told The Royal Gazette: “The key issue is the economy and the debt that Bermuda now has.“Clearly the financial situation is not as healthy as it used to be. And a lot of concern has been expressed to me about that from people of all political persuasions. Everyone acknowledges that action needs to be taken to address that problem.”He said those who have expressed the concerns are “people I’ve met at dinners, at functions I’ve attended”.Bermuda’s public debt has surged past $1 billion according to the Budget statement released by Ms Cox on Friday, and the cost of the interest alone on the debt equates to $191,780 per day.Asked what he believes should be done, Mr Rosindell replied: “That’s a matter for the Government of Bermuda. You have an elected Government and its up to them to manage the finances and the economy. It’s not up to me to make those decisions. All I can say is this; we have a similar situation or probably a worse situation in the UK after the previous Government left us with calamitous debt.”He said the new UK Government is taking measures to tackle that issue and get its house back in order.“My advice to all governments anywhere in the world is to get your house in order when it comes to financial affairs. It was Mrs Thatcher that taught us that in the 80s and it’s only when you get your economy back in order that you can start to then do things that you want to do in terms of spending in other things.“If you’re in permanent debt, it’s a millstone...we all need to be economically responsible.”Mr Rosindell is a member of the Conservative Party, which governs the UK in coalition with the Liberal Democrats. It ousted the previous Labour Government last May, after 13 years in power.He is known in the UK for being a “right wing populist,” and was heavily critical of the UK’s previous administration during yesterday’s wide-ranging interview with The Royal Gazette.Asked how he felt Bermuda’s Progressive Labour Party Government has handled the economy since coming to power in 1998, he replied: “I can only look at the figures and say that the figures do show that there has been the big financial black hole when as before it wasn’t anything like what it is today, and that’s a matter of regret.“But you know we have a Labour Government in Britain that did the same thing so it’s not an uncommon problem. But I think with the Budget, the Premier is now seeking to try and address some of these things.”Mr Rosindell praised Auditor General Heather Jacob Matthews, Bermuda’s independent financial watchdog, as an “Iron Lady”.He met her yesterday morning and said: “I think it’s good you have an Auditor General who is independently minded, who wants to do the right thing, and ensure that the reputation of Bermuda is upheld.”l See tomorrow’s edition and watch our website at www.royalgazette.com for more on Mr Rosindell’s meetings with other key figures, including the Police Commissioner and Regiment Commander, and his views on topics ranging from rights for long term residents to representation in the UK Parliament for the Overseas Territories. Other useful websites: www.rosindell.com, www.parliament.co.uk