Grant Gibbons Slams Throne Speech, Pledges To Reduce Tax Burden

by Mike Godfrey, Tax-News.com, Washington

12 November 2002

Responding on Friday to the Bermudian government's November 1 Throne Speech, which laid out the intended legislative framework for the coming year, Opposition Leader, Dr Grant Gibbons condemned it as a 'feeble effort' from a government 'completely out of touch with the people'.

Making constant reference to the 'Smith Government'- much to the annoyance of Premier Jennifer Smith - Dr Gibbons promised tax cuts, governmental reform, and the creation of an Office of Economic Empowerment under UBP leadership.

'We must get tighter control over spending and borrowing and look for ways to reduce the tax burden. We must also get serious about diversification, reduce our dependency on international business and identify new opportunities for growth,' he argued, pledging that if returned to power, the UBP will: 'Modernise the way Bermuda manages its economy by creating two separate ministries, one responsible for finance and budgets – similar to the current Ministry of Finance – and another for tourism and economic development.'

Speaking with regard to his party's plans to create an Office of Economic Empowerment to assist small businesses and entrepreneurs in the region, Dr Gibbons revealed that the creation of 'economic enterprise zones' would be facilitated, as would cooperation between agancies in order to cut 'red tape and bureaucracy'.

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