Bermuda has a new Government which has promised to shore up the Island’s position as a world leader in insurance, reinsurance, international business and finance. They also have hopes of re-establishing Bermuda as a premier tourism destination.
The promises from the One Bermuda Alliance (OBA) came in the Throne Speech delivered on the first day of Parliament following the new Government’s election in mid-December last year.
Plans on how they intend to achieve their goals were then unveiled in the Government’s first Budget presented in late February. Notably, the new Minister of Finance committed to “a new direction for the manner in which the economy of Bermuda and the finances of the Bermuda Government are managed”.