Good afternoon members of the media and to the people of Bermuda.
In our recent Throne Speech, the Government of Bermuda firmly took another step forward. To act on our mission to ease the burden of rising costs in Bermuda.
We know what our people are facing. For too long, the weight of increasing prices for food, housing, electricity, and everyday essentials has strained families, challenged our seniors, and tested small businesses.
The 2025 Throne Speech was clear: this government is focused on people, not politics. And we are delivering a vision built around your daily realities, with policies designed to support Bermudians across every stage of life.
Our priorities are simple but meaningful:
•Ensuring every child receives a quality education.
•Guaranteeing our seniors can age with dignity.
•Expanding access to affordable housing so that every Bermudian has a place to call home.
•Transforming healthcare by making it more accessible, more affordable, and more responsive.
•And, tackling the cost of living by confronting the soaring prices of food, energy, and essential goods head-on.
The newly focused Ministry of Home Affairs has been tasked with one mission: to bring down the cost of living because We know that affordability is the greatest challenge facing Bermudians today.
The cost of food, energy, and essential goods is unsustainable, and the burden these high costs place on our families and businesses is insurmountable.
We recognize that this challenge is complex and broad in scope, yet interconnected, requiring collaboration, innovation, and solutions across multiple Ministries.
We further believe that lasting solutions require the entire Bermuda ecosystem.
We aim to work with ministries, with businesses, community leaders, nonprofit partners and everyday Bermudians.
Because real change happens when we act together.
Addressing the Cost of Living
As we chart our path, the Ministry of Home Affairs will first focus to address the cost of living challenges through the pillars under its direct remit which include:
•Stabilizing Energy Costs and promote our energy transition;
•Addressing the rising cost of essential goods, and
•Advancing the principles and policies that result in consumer protection, and safeguarding these changes through the reform of regulatory oversight.
Energy
Our energy sector is at a crossroads. The Integrated Resource Plan, also known as the IRP, has laid out a transformative path toward sustainable and cost-effective electricity. Since 2019, we’ve been laying the groundwork to reduce fossil fuel dependence and transition to modern energy solutions.
The goals defined in the IRP include:
•Reducing our fossil fuel reliance
•Stabilizing costs
•Infrastructure development
•Outreach and education on energy efficiency and conservation and
•Deploying new energy technologies which will chart our path toward building a sustainable future.
Energy transitions worldwide are being addressed systematically and we endeavor to do the same. This day-one reality means that, while customers may not see major improvements in their bills overnight, they should feel confident knowing that the next phase is designed to stabilize electricity bills through amending the Electricity Act to ensure transparent and efficient operations.
Consumer Protection
We recognise that no Bermudian should feel powerless when prices rise without justification. So, As defined in our Throne Speech, we are moving forward with legislation to ensure stronger consumer rights and oversight in key sectors, because accountability should never be optional.
Cost of Living Summit
Today, I am proud to announce the first-ever Bermuda Cost of Living Summit. This forum will bring together all sectors: government, private industry, unions, nonprofits, and residents to confront the structural drivers of high costs and identify actionable, short and long-term solutions.
In the lead-up to the Summit, the Ministry has launched a two-part national engagement effort:
•Stakeholder Consultations with businesses, a survey which is already underway, engages with service providers, and community leaders to identify barriers, bottlenecks, and solutions from every sector.
•Those findings will support focus group efforts to better drill down on the core drivers of costs in Bermuda.
•We will then launch a Public Survey, in the coming days, which will capture lived experiences and ideas from residents on how affordability challenges are affecting their lives.
The insights gathered will inform a Cost-of-Living Report, and will provide clear recommendations for reform, especially in consumer protection and regulatory oversight.
We know this issue cannot be solved overnight. But what we can pledge is that we will advance our next steps with urgency, transparency, and action. This isn’t just about numbers or a bottom line, it’s about people.
•It’s about parents deciding between groceries and school supplies.
•It’s about Seniors choosing between medicine and electricity.
•It’s about our small businesses fighting to stay afloat.
The Ministry of Home Affairs and its mandate is at the heart of quality of life in Bermuda.
And while we know change takes time, we are taking bold action now to lay the foundation for lasting relief.
Bermuda, we care. We have listened AND We have heard you.
We remain unwavering in our commitment to advance a fairer and more affordable Bermuda for all.
Thank you.