Legislation passed by MPs would allow Bermuda’s Cost of Living Commission to examine whether duty relief on essential items has actually lowered prices on store shelves.

The Cost of Living Amendment (No 2) Act 2026 made it through the House of Assembly on Friday.

It would amend the principal Act to allow for the designation, price information monitoring and price sharing of critical services.

The legislation would also enable price increase controls on essential commodities, as well as consultation and collaboration between the commission and other public authorities with responsibility for the regulation or consumer protection of commodities.

Alexa Lightbourne, the Minister of Home Affairs, said that the commission helped to create the legislation, which amends the Cost of Living Commission Act 1974 and comes after a summit on the matter last year.

Importers and economic experts were among those who discussed topics such as healthcare reform and food affordability during the conference at the Hamilton Princess & Beach Club in June 2025.

Ms Lightbourne said on Friday: “The summit revealed that the public wished to see zero rate of duty moved to more essential goods and medications, they wanted to require transparency so that every dollar or relief reaches customers at the register … and collaboration while ensuring that we would hold the partnerships to account.

“Shipping costs would be addressed and/or subsidised, cap electricity rates and internet charges, introduce tiered rates of all utilities and protect low-income households, and welcome new importers so that no single supplier holds a family’s basket.”

The legislation would allow the commission to monitor the price set by regulators of telephone, electricity and water supply companies.

Ms Lightbourne explained: “The amendments ensure that the commission consults the regulator for any sector that it examines, adding capacity and demonstrating joined-up governance.”

She conceded that the Bill is not a “silver bullet”, but provides “answers requested on doorsteps that demand change”.

Several opposition MPs voiced concerns about the legislation, which shadow home and community affairs minister Dwayne Robinson believed might harm the economy.

He said: “You can’t control your Belco bill per se, but what you will see is if folks feel as if the legislation inhibits their ability to be flexible with their pricing to respond to calls of business, they may just cause potential layoffs.

“If that business is straddled with that amount of additional red tape, we may see a reverse effect on the consumer.”

Linda Smith, the Shadow Minister of Seniors, Environment and Sustainability, said that the move would result in greater bureaucracy and funding.

She told MPs: “Here we have another commission and we don’t know what the costs are going to be, we don’t know how much it’s going to cost the community, we don’t know what the effects are going to be, and we don’t know how the merchants are going to react to it.”

Ms Smith said that the Government could lower the cost of living by removing the sugar tax, paying duty after sales and reducing the foreign currency purchase tax.

Jaché Adams, the Minister of Public Works and Environment, insisted that the Bill would encourage competition by allowing price transparency.

He said: “If a family can compare prices before spending their hard-earned money, we believe that is a good thing.

“If they can better understand the fees, surcharges and service plans, that is also a good thing.

“If greater transparency encourages businesses to compete on price, as far as we’re concerned as representatives of the people, that is also a good thing.”

In a statement issued later, a commission spokeswoman said: “Greater transparency across essential commodities and designated critical services will strengthen our ability to examine trends and better understand price movements.

“We encourage the public to pay attention to the prices they pay, review their receipts and bills, and compare prices where possible.

“An informed public contribute to greater visibility and a more transparent marketplace.”

The commission added: “Bermuda's pricing environment is influenced by domestic and international factors, including shipping, freight, supply chains, as well as both local and overseas market conditions.

“Greater access to pricing information will support a clearer assessment of these pressures, help identify trends and strengthen the Government's ability to determine where future policy interventions may have the greatest long-term impact.”