Recession is over? Its effects are not ….

recessionFinance Minister Bob Richards says he thinks the recession is over – try telling that to this group of charities.

There may be signs that the recession is over, but the fallout of the recession is still being bitterly felt.

Government rises in health care costs have gone largely unreported because the announcement was overshadowed by the row over mammogrames. But the rise is steep and not only does it leave even less for pensioners to live on, it means charities are also considering shedding staff or closing altogether.

Consider how much Bermuda relies on the work of charities and that should make you wince with worry. (Ironically, the new hospital wing, the reason for some of the health cost hikes, has soaked up millions of dollars of donations which otherwise might have gone to them.)

Why are costs rising? There are less people on the Island but demand is still acute. It is simple maths, then, that costs will rise.

Why have people left the Island? Well, we know and they are not coming back in any great numbers so don’t be surprised if health care costs continue to rise. As they do, more and more people could be forced under or to the poverty line.

What do we do? We concentrate hard, ruthlessly, on controlling health care costs – and this is where Government comes into its own as it helps to take the lead, pushing other interested parties into taking part in meaningful ways.

Not to do so, via things like pre-certification; a tax on sugary drinks; subsidies of the costs of physical activities, big resonating health campaigns etc, risks Bermuda falling off a health cliff.

Of course, the rise in health costs is not the only thing affecting the island at the moment – Belco wants to raise its charges. Again, it has suffered from the effects of the recession.

There are some 600,000 sq ft of empty offices space in Hamilton alone where no-one is burning lights. Belco needs to modernize and it is also responsible to its shareholders who want decent dividends.

If you don’t like the idea of price rises to help pay good dividends, go and live in North Korea, that is a capitalist society for you.

Supermarkets say the rate rise could add as much as $500,000 to their electricity  costs – much of which will be passed to the consumer in the form of higher prices for food. The pensioner already seeing their pension disappear in health costs will be left, well…

So Bob may talk of the recession being over, but if it is, its fallout is going to be felt for a long time yet …..

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Blog at

Up ↑


Opinions from the Rock

Bermudians for Free Thought and Humanism

For Bermudians who subscribe to living outside of dogma and religious tradition


To Bermuda and Beyond

Media Village

A view on what's happening in the great world of journalism


Lighting the way to a new politics

Pink Ribbons and Boobies

In a world or endless possibilities, where dreams can be reached and lives can be altered…The unexpected can hit you at anytime…welcome to my world. Welcome to my Journey…

Bermuda Independent

Mainly Bermuda politics and economics

The Soap-Box

Experiences, observations, and opinions of a young progressive entrepreneur. Articles will mostly surround my passions of politics, business, education, and sustainability.


It'll bring out the billy in you !



Bermuda Blue

Commentary about Bermuda as I see it. All views my own


Wandering Photographer - A Tad Aimless For The Nonce.

Derelict Mom

For Eva with Love and Dereliction

The Anonymous Journalist

A view of the world from 5ft 3

BeachLime Bermuda

A blog


People of Bermuda


from one Island to another....


Information and opinion on business and construction issues in Bermuda.


the secretion of art by Rhian Ferrer

Onion Law Blog

Commentary about Bermuda as I see it. All views my own

%d bloggers like this: