A consumer savings plan that was borne out of an agreement with the island’s wholesalers and retailers was unveiled by the Minister of Home Affairs.

Alexa Lightbourne said the Affordable Bermuda Agenda — which took effect on November 1 — was a “concrete step towards cost-of-living relief”.

She said the ministry had been given “a clear mandate to address the cost of living” in February.

The Affordable Bermuda Basket runs through to July 31, 2026 at Lindo’s and MarketPlace stores across the island.

BGA, Viking Foods, Butterfield & Vallis and Dunkley’s are among the other participants in the scheme.

Under the savings plan are a list of products for reduction on supermarket shelves, which Ms Lightbourne said included “the everyday items that families rely on”, such as baby formula, rice, toiletries, dairy products and cleaning supplies.

The plan included an Essential Goods Relief Initiative element in which wholesalers have committed to apply a 10 per cent reduction in the cost of designated brand products supplied to retailers.

The agenda said that retailers had agreed to apply a further 10 per cent reduction at the shelf.

It said consumers would guarantee savings on participating brands for a nine-month period.

The scheme came after a meeting in August with retailers and wholesalers to develop and advance practical solutions to mitigate the cost of living.

It followed research and analysis conducted by the ministry on possible recommendations shared at the Cost of Living Summit held in June.

Michael Fahy, the Shadow Minister of Home Affairs, said the savings blueprint “falls woefully short on tangible long-term solutions” to lower the cost of living on the island.

He also claimed that the plan was “glossy” and lacked detail and he recalled a deal negotiated by the One Bermuda Alliance in 2013 for a 10 per cent reduction of all groceries on Wednesdays.

Mr Fahy, who served as Minister of Home Affairs at the time, told the Senate a year later that the grocers suffered financially because of the weekly discount, and could not continue the programme.

He said that the OBA could do better than the Government’s savings scheme, such as its proposal for targeted electricity reductions for low-income earners.

At the summit in June, business leaders in the retail, wholesale and utilities sectors pledged to take action to reduce the cost of living.

In the House of Assembly, Ms Lightbourne described the summit, which attracted more than 250 attendees, as “a significant milestone” of “candid and constructive dialogue”.

She said that it had “inspired” government policy and showed the importance of collaboration.

After the summit, Mr Fahy said he learnt nothing new from the event and questioned why the Government had repeatedly failed to introduce simple legislation that would ease cost-of-living challenges.

The Cost of Living Commission was to review the summit’s outcomes which Ms Lightbourne said would “contribute to the public communications of the ministry’s affordability strategy, including its implementation road map and regulatory reform timeline”.

She said her ministry was working to process summit feedback to combine with survey data.

Residents were later urged to complete a series of online surveys through questionnaires that were devised after the June summit.

The surveys covered the four “most critical aspects of daily life” — imports, housing, utilities and food.

Kim Wilkerson, the Minister of Justice, told the Upper House in November that working with wholesalers and retailers in tackling Bermuda’s cost of living had yielded success.

John Wight, the Vice-President of the Senate, questioned if the Government would consider legislation to “force” providers to lower costs.

Ms Wilkerson said: “We believe it’s in our best interest to collaborate as much as possible, so the idea of a legislation to force the hand of the suppliers of food isn’t contemplated immediately.”

A free web-based platform was launched to assist consumers in comparing local and overseas prices, and uncovering savings in a “meaningful, data-driven way”.

The Pure NonCents Calculator gives businesses the insight and consulting pathways to refine pricing, sourcing and operations for better efficiency, its founder Michael Pearman said.

“Pure NonCents isn’t about blame — it’s about shared insight and identifying opportunities for improvement,” Mr Pearman said.

The platform helps consumers make smarter purchasing decisions while enabling businesses to assess their competitiveness and identify opportunities for improvement.

Mr Pearman told The Royal Gazette that he had built the platform “so it gives both consumers and businesses better information”.