2020-07-28 - 06:31:45 POLITICS |
BERMUDA MADE TO PAY MILLIONS FOR BAD AIRPORT DEAL SAYS LAWRENCE SCOTT
"The previous OBA Government, led by Michael Dunkey, entered into the airport deal. That deal requires Bermuda to maintain predetermined air arrival numbers. This agreement also included a clause that stipulated that if airport traffic numbers were to fall the Government would provide a Minimum Regulated Revenue Guarantee.”
"The bottom line is, we, the Bermudian taxpayers have paid out $5,770,995.54 (five million, seven hundred and seventy thousand, nine hundred and ninety-five dollars and fifty-four cents), and counting because of the deal that Michael Dunkley and the OBA negotiated.
That is money that could be going to relief for families hurting at this time due to the COVID-19 pandemic. That is money that could be invested in our public education. That is money that could be used to bring down the cost of living. That is money that could be going to expand COVID-19 relief efforts.
"We have many insurance experts in this country. In fact, we have many of the world's insurance experts right here in Bermuda. And, our country is uniquely vulnerable to various acts of God, including climate change, hurricanes and other weather events and pandemics, among a myriad of other potential acts of God.
"Although the OBA says that the Bermudian people should have paid for insurance relating to this airport deal that they brokered, the fact remains that the Airport Authority looked into an insurance policy, and it was determined not to be financially feasible nor would it have protected against a Force Majeure event such as COVID-19. Part of the 2017 legal review into the Project Agreement stated that type of protection should have been included into the original contract and that “it was highly unusual” for a contract with such an extended duration (30 years) not to include a variation clause. Michael Dunkley and the OBA should have negotiated a better deal than to put the onus on AECON to buy this insurance to mitigate for this risk.
"Because of the OBA's failure to protect the interests of Bermudians, we the people, are having to pay the bill for their costly mistake."
Any content which is considered unsuitable, unlawful, or offensive, includes personal details, advertises or promotes products, services or websites, or repeats previous comments will be removed.
User comments posted on this website are solely the views and opinions of the comment writer and are not a representation of or reflection of the opinions of TNN or its staff.
TNN reserves the right to remove, edit or censor any comments.
TNN accepts no liability and will not be held accountable for the comments made by users.
Ignore Fake Social Media Advertisements
The Government of Bermuda is aware of a series of fake social media advertisements connecting MP Way
“BERMUDA THE SAFEST PLACE ON THE PLANET” SAYS U.S. CONSUL GENERAL
As the world continues to face challenges during the global pandemic, U.S. Consul General Lee Rizzut
I ACCEPT THE CHALLENGE SAYS VIC BALL
I would like to think of today as exactly that, a good day. Let me begin by thanking my immediate p
RESIDENTIAL CERTIFICATE, FINANCIAL ASSISTANCE, ILLEGAL WORKERS, MAIN CONCERN SAYS MINISTER
1 Year Residential Certificate Policy The Government’s 1 Year Residential Certificate initiative,
One Year Residential Certificate Now Available
Over the Cup Match weekend the Government launched the Work From Bermuda One Year Residential Certif
PEDESTRIAN INJURED, MAN ARRESTED AFTER ROAD TRAFFIC COLLISION
Shortly after 7:00 pm on Wednesday, 29th July, police received several reports of an injury road tra
Government must launch a war on obesity Says Pat Gordon-Pamplin
Given the experiences of some other jurisdictions and recommendations emanating from them, Governmen
COVID19 RESULTS 1 POSITIVE, 11 PENDING RESULTS BEING TREATED AS POTENTIAL CASES
Between yesterday and today, the Ministry of Health received 1165 COVID-19 test results; out of the
BPS WARNING: SCAM E-MAILS AND ADVERTISEMENTS CIRCULATING
The Bermuda Police Service wishes to advise the public of a scam email promoting an investment oppor
OFFICERS UP IN ARMS OVER COMRADE’S SUSPENSION
Concerns at the BPS as a colleague of the officer suspended yesterday has criticised the move as unf
CIVIL UNREST NOT SEEN ON THE IMMEDIATE HORIZON - CAINES:
With TNN receiving word that police and soldiers are gearing up and standing in preparation for the
Lt. Col. Edward Lamb Appointed Permanent Secretary:
Head of the Public Service, Dr. Derrick Binns, today announced the appointment of Lt. Col. Edward La