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Official Hansard Report 2018/19 SESSION of the BERMUDA HOUSE OF ASSEMBLY OFFICIAL HANSARD REPORT 7 December 2018 Sitting number 5 of the 2018/19 Session (pages 293–420) Hon. Dennis P. Lister, Jr., JP, MP Speaker Disclaimer: The electronic version of the Official Hansard Report is for informational purposes only. The printed version remains the official record. Official Hansard Report 7 December 2018 293 BERMUDA HOUSE OF ASSEMBLY OFFICIAL HANSARD REPORT 7 DECEMBER 2018 10:03 AM Sitting Number 5 of the 2018/19 Session [Hon. Dennis P. Lister, Jr., Speaker, in the Chair] Honourable House of Assembly the Bermuda Fiscal Responsibility Panel 2018 Annual Assessment. PRAYERS The Speaker: Thank you. [Prayers read by Mrs. Shernette Wolffe, Clerk] PETITIONS CONFIRMATION OF MINUTES [Minutes of 30 November 2018] The Speaker: There are none. The Speaker: Members, the Minutes from the 30th of STATEMENTS BY November have been circulated. AND JUNIOR MINISTERS Are there any omissions or corrections? There are none. The Speaker: We have four Statements this morning. The Minutes have been confirmed. The first is in the name of the Honourable Premier. Premier, would you like to present your [Minutes of 30 November 2018 confirmed] Statement? MESSAGES FROM THE GOVERNOR Hon. E. David Burt: Thank you. Good morning, Mr. Speaker. The Speaker: There are none. The Speaker: Good morning. ANNOUNCEMENTS BY THE SPEAKER OR MEMBER PRESIDING THE 2018 JOINT MINISTERIAL COUNCIL AND RELATED MEETINGS IN THE UK AND EUROPE APOLOGIES Mr. Speaker, I am pleased to Hon. E. David Burt: provide an update to this House and the public on my The Speaker: The announcement this morning is that we have been informed that Minister De Silva will be meetings in the United Kingdom and Europe, includ- absent, as he is off the Island today. ing the annual Joint Ministerial Council with the United And I have only just been informed the MP Kingdom Government. Weeks will be out because he is ill today. Mr. Speaker, the development of business opportunities for Bermuda in London was the focus of MESSAGES FROM THE SENATE my first three days of the trip where I was able to sup- port the Bermuda Business Development Agency London Executive Forum, the Bermuda FinTech Fo- The Speaker: There are none. rum, and Beyond Convergence hosted by ILS Bermu- da. In addition to participating in the events, I hosted a PAPERS AND OTHER number of meetings with persons interested in invest- COMMUNICATIONS TO THE HOUSE ing in Bermuda. Mr. Speaker, Bermuda continues to translate The Speaker: There is one paper this morning in the its excellent reputation into economic growth. Eric name of the Minister of Finance. Bertrand, founding partner of Centaur Fund Services, Minister. praised the BDA [Bermuda Business Development Agency] forum—his first as an industry participant— BERMUDA FISCAL RESPONSIBILITY PANEL where he spoke on a panel about innovative trends in 2018 ANNUAL ASSESSMENT alternative assets. Mr. Bertrand said, “In 2015 when we decided Hon. Curtis L. Dickinson: Mr. Speaker, I have the to establish an offshore jurisdiction, we had options, honour to attach and submit for the information of the but we decided Bermuda was the place for us to do Bermuda House of Assembly 294 7 December 2018 Official Hansard Report our business. Three years later, we’ve grown from [Desk thumping] one to 16 people in our Hamilton offices—so, it proves our point.” He went on to continue to say, Mr. Speak- Hon. E. David Burt: Mr. Speaker, Honourable Mem- er, and I quote, “I wanted to share our story that Ber- bers will be aware of the considerable consultation muda is a jurisdiction of choice and a great place in and technical efforts that have been devoted to ad- which to complete a global presence. We have sever- dressing the issue of our assessment by the EU Code al offices around the world, but Bermuda is a very im- of Conduct Group, as it looks to create a list of non- portant one for us.” cooperative jurisdictions for tax purposes. A principal Mr. Speaker, last Tuesday, along with Bermu- focus of my time in Europe was to engage at the polit- dian insurance pioneer, Brian Duperreault, I partici- ical level of the European Union to build relationships pated in the opening panel at the Bermuda FinTech in Brussels for Bermuda. Forum. The forum attracted investors, tech industry Mr. Speaker, discussions were held with EU professionals, support industries and leaders of sev- Permanent Representatives in Brussels and tax atta- eral recent Bermuda start-ups. The discussion titled chés with the Governments of Slovenia, Malta, Lithu- “Innovation Island: Why Industry Pioneers Choose ania, Belgium, Switzerland, and Romania. The meet- Bermuda,” highlighted Bermuda’s history of innovation ing with the Romanian Ambassador to the EU was in insurance and compared Bermuda’s role in that critical in understanding the agenda for the Romanian industry’s evolution with the current disruption seen Presidency of the European Council from this Janu- with FinTech. ary, particularly as we prepare for the opening of our Mr. Speaker, I endorse the comments of the Brussels Office. CEO of the BMA [Bermuda Monetary Authority], Mr. The Romanian Ambassador and I had firm Jeremy Cox, who said, “London is an important mar- discussions not only on Bermuda’s assessment by the ket for Bermuda, so this offered us a great opportunity Code of Conduct Group, but in understanding the im- to educate, raise awareness, and answer in-depth mense challenges ahead for Romania in managing questions. The BMA was proud to participate in an the implications of the possible exit of the United initiative that raised Bermuda’s profile and under- Kingdom from the European Union. scored our world-class regulatory reputation.” Mr. Speaker, the consistent message deliv- Mr. Speaker, while overseas, I had the oppor- ered and conveyed to all EU Member States with tunity to host two networking receptions for Bermudi- whom I met is that Bermuda is a high-quality jurisdic- ans living in the United Kingdom, organised by the tion which has been a leader in global tax transparen- London Office. The first event was the annual net- cy. working reception in London. It is an opportunity for Mr. Speaker, following my meetings in Brus- Bermudians to network amongst themselves and with sels, I returned to London. And it is important to renew the industry participants who attended the BDA forum “Bermuda friendships.” In this regard, I had the oppor- and, at the same time, engage directly with myself on tunity to re-engage with key stakeholders of the UK the issues they feel are crucial. Houses of Parliament through a meeting with the Brit- The second event was a result of a promise I ain–Bermuda All Party Parliamentary Group. Together made last year to reach out to those Bermudians fur- with the Chair, Sir David Amess MP, and the Bermuda ther north. The event was held in Nottingham, the first London Office, a programme of key engagement of an annual series in different locations outside of events with the All Party Parliamentary Group have London. I was honoured to see Bermudians still very now been agreed and began with this initial meeting. much connected to their home and remaining in con- These scheduled events were developed with a view tact with Bermudians across the United Kingdom, to cultivating an accurate understanding of Bermuda supporting each other on a daily basis. and where we see our agenda for the future— What was most gratifying about the interac- essentially, making our friends before we need them. tions, Mr. Speaker, is that a vast majority of Bermudi- Mr. Speaker, Honourable Members will be ans living in the United Kingdom planned on returning aware that the UK Government organises an annual to Bermuda after they completed their studies and meeting for the leaders of the Overseas Territories to skills training. I pledged that the Government will exe- engage with Ministers on points of mutual interest. Mr. cute its plans to ensure that there is a place for them Speaker, I was joined by the Honourable Member, the here when they return home. Minister for the Cabinet Office. The council was Mr. Speaker, the London office will take extra chaired by Minister of State for the Foreign & Com- steps to ensure that they are available to those in the monwealth Office, Lord Ahmad, of Wimbledon. United Kingdom as far as Scotland and even through- Mr. Speaker, Honourable Members will also out Europe. In addition to these annual networking be aware of the significant political issues unfolding events, the London Office will provide open walk-in daily in the United Kingdom. In an effort to provide Consular Days in various locations across the United information to the Overseas Territories, the Joint Min- Kingdom, starting in the New Year. isterial Council heard from the Parliamentary Under Secretary of State, at the Department for Exiting the Bermuda House of Assembly Official Hansard Report 7 December 2018 295 European Union, Robin Walker MP. With the ongoing Deputy Premier, would you like to present uncertainty surrounding virtually every aspect of the your Statement? Brexit debate, the impact of the UK leaving the EU on the Overseas Territories will continue to be monitored Hon. Walter H. Roban: Thank you, Mr. Speaker. by this Government, and Bermuda made ready for Good morning to everyone. Good morning to Bermu- any scenario. da. Minister Robin Walker assured leaders that the UK is obligated under the Constitution to set the The Speaker: Good morning. framework which works for the entire UK family includ- ing the Overseas Territories, and to take into account INVESTIGATING COMPLAINTS any current relationship with the EU.
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