Shadow Home Affairs Minister Sylvan Richards has said it is imperative that the Government seek meaningful immigration reform that includes, as its goal, an increase in Bermuda’s working population.
His comments follow the release of Bermuda’s Population Projections 2016 – 2026 Report, which indicated that from the period 2016 to 2026, the island’s population is projected to decrease from 63,791 to 63,680 and the proportion of seniors is projected to climb from 16.9% to 24.9%.
During the same period, the youth dependency ratio is anticipated to fall from 21.9 to 20.8. Between 2016 and 2026, the total dependency ratio is expected to rise from 46.6 to 60.7. This measures the working age population’s ability to support persons under 15 years and 65 years and over.
Mr. Richards referred to recent comments made by John Wight, the President of the Bermuda Chamber of Commerce and businessman Brian Duperreault who both stressed the importance of population growth on the economy, a sentiment that was also echoed by Premier David Burt.
Falling birth rate
Mr. Richards noted that not enough babies are being born in the territory to keep the population levels steady and as a result Bermuda’s population was ageing. This trend will create further strain on the government’s ability to fund its current expenses without having to borrow more money. Other than introducing some sort of “baby bonus”, Mr. Richards suggests steps should be taken to encourage the immigration of job and wealth creators to the island, and to find ways to entice Bermudians living abroad to return home to live and work.
