Good afternoon everyone, as I close out today's events, I wish to state that today will not only be remembered for these amazing panels and discussions, it will also be remembered for what we dared to consider.
I begin with heartfelt thanks to our Premier, the Hon. David Burt and my Cabinet colleagues the Attorney General, Sen. Kim Wilkerson, the Minister of Education, Sen. Crystal Caesar, and the Hon. Tinee Furbert Minister of Social Development and Seniors. I also thank Minister Kim Wilson and the Deputy Premier, Minister Zane DeSilva for their contributions.
I thank each and every one of the panelist and moderators Jessica Mello, Liana hall, Arthur Wightman, Daniel Woods and Ryan Perinchief for their contributions.
Today confirmed what we already knew: that no Ministry can carry the burden of the cost of living alone. Cross-sector action is not an option but rather our new requirement.
I feel reassured about those who are in the room and have lifted compelled by duty. Today wasn't a gathering of dignitaries, but a gathering of those who were compelled by duty.
Today, we were confronted by not only the impacts of rising cost, but the cost of delay, the cost of division and the cost of Bermudians who who fall through the cracks.
The Ministry of Home Affairs took a risk convening this summit but I leave reassured of our work.
We asked stakeholders to enter not with defences, but with decisions.
Not with positions, but with purpose.
AND I THANK YOU FOR MEETING THAT MANDATE:
You committed, to review, to act, to reconsider what is possible.
For the single mother in Somerset, to the grandfather in St. George’s, to the farmers, the grocers, the retailers and the regulators, this was a summit to unpack our conclusions and invite another approach.
It showed us what can happen when we choose to collaborate in the spirit of what’s best for Bermuda.
We examined the mechanics beneath the headlines, trade routes, freight charges and regulations that may once have helped, but are worthy to be revisited.
We spoke plainly about the cost of energy, about rent, and rules, and what’s fair.
Together we have asked what role consumer choice plays in food costs. We didn’t just revisit problems. We reimagined solutions. We discovered that relief is not always far away, sometimes its within reach.
This is not the end of the conversation, we have tested our tolerance and will continue to disrupt status quos to confirm what is possible. This is the start of a course of action.
The Ministry has already begun to operationalize the outcomes of this Summit which will be part of our next steps:
● Tenant and landlord protections are now in final legislative draft and will be released for public consultation this July.
● A Ministerial Directive has been issued to consider impact on consumers and central to decisions made in electricity and telecommunications.
We are encouraged by the proactive steps already being taken by several of our industry partners who have stepped forward in solidarity with the Government’s efforts to implement meaningful cost saving measures.
These initiatives are designed to support all residents, especially our most vulnerable and those most in need.
In the telecommunications sector, we are pleased that one of our leading providers has committed to providing a cost of living discount and capping their cost for the next three years.
In the healthcare sector, we commend the commitment of a medical practitioners who in support of our efforts has pledged to suspend co-payments.
In the food and grocery sector, retailers have taken decisive action by implementing immediate pricing and cost-saving strategies that will provide benefit at the checkout counter.
These early commitments reflect a growing spirit of collaboration and shared responsibility. We look forward to working with more partners across all sectors to build a more resilient, inclusive, and supportive community for everyone.
It is my hope, that this summit presents a beginning between what collaboration could look like, about informed discussions and informed solutions.
Today we will be reminded of the importance of collaboration and shared resolve. While government leads… and industries adapt, the real power of transformation lies in how we, as neighbours, as Bermudians co-create solutions.
Every household, every street, every parish has a role to play. From the way we support local vendors, to how we share resources, we are a community with the power to respond together.
The Ministry will publish every confirmed commitment shared by our stakeholders at costofliving.gov.bm.
I can assure you that the Ministry of Home Affairs has not stood still.
We have moved deliberately and urgently because we know that it is required of us.
Today is the beginning of a new path forward. We will compile today’s insights and data and publish a report.
The Ministry and Cost of Living Commission armed with your views will lead these steps. It is the beginning of a new path forward.
We have accepted that a more affordable Bermuda should be an obligation. Not just for Government. Not just for industry. But for all of us.
So I thank the hardworking team at the Ministry of Home Affairs and our Ministry’s Permanent Secretary.
The days ahead will be marked with conviction. The wall at the back of this room which I reinvite you to sign holds your commitments as a symbol of your presence and I thank you for sticking through a really long day.
Thank you for joining and walking that path with us, now let’s keep walking, together.