Mr Speaker, in this year’s Speech from the Throne, the Government recognised the need to deliver more efficient services for the taxpayer and declared:
“Governments have an obligation to ensure that Government services that fall under legislation are delivered well. Service must translate into efficiency, and Bermuda’s residents deserve a level and ease of service that matches our claim to jurisdictional sophistication. Some of these services will be improved through a focus on digital transformation of Government Services, others will be improved through the streamlining of regulations.”
Mr Speaker, to support our pledge to improve Government services and enhance the customer experience, in the 2024/25 budget statement, the Government outlined several initiatives we will undertake in this fiscal year to deliver on this promise. These initiatives included increased investment in information technology, implementation of online payments, harnessing advancements in artificial intelligence, and reducing regulation to support economic growth.
Mr Speaker, the Government has, in the past, reached out to private sector organisations to ask them to submit suggestions regarding regulations that could be streamlined or reduced to boost economic activity. Unfortunately, the response to date has been limited, and therefore, in this year’s budget statement, the Government announced that it will be going directly to the public.
Mr Speaker, it is not lost on this Government that many in the public have expressed concerns about outdated regulations and bureaucratic processes that have hindered local businesses from conducting some activities, expanding their operations, or simply causing frustration due to time consuming processes. We recognise that streamlining processes and reducing regulation can support economic development and is also one of the key action items under the strategic initiative of Bermuda’s Economic Development Strategy to “Ensure Bermuda is Business Friendly”. Mr Speaker, the Economic Development Strategy states:
“Being business friendly is ensuring that regulatory and other barriers are reduced. To ensure that Bermuda remains a jurisdiction of choice, it is important to recognise the impediments that limit a business's ability to thrive and survive. Creating certainty in a business environment will work to ensure business confidence is maintained.”
So today, Mr Speaker, I am announcing the opening of the promised consultation with the Government’s largest and most important stakeholder, the people of Bermuda, to hear directly from the public about what regulations they feel can be reduced.
Some may ask: “Why is the government going to the people? They should know what the issues are.” Mr Speaker, I can understand that perspective, but the truth is that Governments do not have the same interaction internally within the Government that the public may have, and the experience will be different.
We want to hear directly from those affected about the obstacles faced, and receive recommendations on processes that can be streamlined to reduce frustrations, or multiple points of contact, with the government to accomplish tasks. Today, members of the public can visit forum.gov.bm and submit their ideas for consideration, and the Government will do what we have done since returning to office: listen, take on feedback, and act.
Mr Speaker, we acted when the electorate told us that taxes on workers were too high, and reduced taxes for 86% of workers and business. We acted after persons said to us that more affordable housing is needed, with an initial $15 million investment that has seen 67 new units already brought online – with more to come - and this year we are providing an additional $10 million to accelerate our efforts.
We acted when young Bermudians said that more support was needed for them to own a ‘piece of the rock’ and implemented the Mortgage Guarantee Programme, which has seen 49 Bermudians put on the path to home ownership. We acted when persons told us that we needed a minimum wage in Bermuda to ensure dignity for all workers, implemented our island’s first minimum wage in June last year.
Mr Speaker, we will also act now to reduce red tape and encourage further economic growth that will benefit Bermudian businesses and entrepreneurs. Together, in line with Bermuda’s Economic Development Strategy, we can build a Bermuda that is even more business-friendly, efficient, resilient, and innovative.
In addition to the benefits to business, reduced regulation will support our hardworking public officers and enable them to focus on improving customer service rather than outdated administrative processes.
Mr Speaker, this year’s Speech from the Throne was entitled “Serving the People”. The 2024/25 Budget Statement was entitled “Investing in Our People and Our Future”. These vital statements placed the people of Bermuda at their centre, as this Government continues to take a people-centred approach to our daily work. Our legislative and financial agendas are focused on delivering enhanced services to the people of Bermuda and investing in areas that will improve their quality of life and economic opportunities.
Mr Speaker, I encourage all persons to visit forum.gov.bm today and share their thoughts and experiences with the Government to help us make Bermuda an even friendlier place for businesses. This site is interactive, so residents can make submissions, read submissions that have been made, comment on those submissions, and voice their support for a suggestion with a simple click.
Mr Speaker, this Government’s agenda is ambitious, but with the support and participation of Bermudians, there is no limit to what we can achieve. We are committed to making Bermuda work better for everyone, enhancing our economic landscape, and, ultimately, improving the lives of all Bermudians.
Thank you Mr Speaker.