Log In

Reset Password
BERMUDA | RSS PODCAST

Airport agreement released to MPs

Finance minister Bob Richards

The Airport Project Agreement has now been released to all MPs, according to Bob Richards.

Speaking this evening, the Minister of Finance said that he did not regret the decision not to release the document sooner, calling the release “highly unusual”.

“The normal course of business is to keep contracts confidential,” he said. “We agreed to release it under a non-disclosure agreement to the Blue Ribbon Panel, and they accepted that.

“We tried to do that with the Public Accounts Committee and the Leader of the Opposition [David Burt], but they didn't accept that.

“The executives from CCC and Aecon didn't want people to think they were hiding anything, and they have nothing to hide, so they spoke to me and they said they would release these, even though it is highly unusual.”

He added that the documents were released without a non-disclosure agreement, meaning that those who received them could discuss the information contained.

However he maintained that all of the material points of the agreement had already been released to the public.

Mr Burt this evening confirmed that the PLP received eight copies of the airport agreement on Saturday without signing a non-disclosure agreement, but that not all of the necessary information was included.

“Sadly, the documents provided to us are missing critical financial information on the minimum revenue guarantee, revenue sharing and the financial model,” Mr Burt said. “When questioned by me earlier today on live radio, Mr Richards stated that he was unaware the financial details were missing, but made assurances that the Opposition would be provided with this crucial information.

“The PLP looks forward to the receipt of these figures in a timely fashion. Until this information is received, MPs will not be able to give this 30-year privatisation agreement the scrutiny that a modern democracy demands.

“These developments are a partial victory for democracy and transparency, but the people's representatives still require the full financial details before we can assure voters that MPs are fully aware of the agreement they are being asked to approve.”

The matter is scheduled to be debated in the House of Assembly on Friday.