Connor Burns

Member since April 17, 2020

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Connor Burns6 years ago [Written 24-May-20]TLDR; Build a Second Pillar of International Business in Bermuda by providing economic refugee status to Hong Kong business owners in Finance, Insurance, Trading and Logistics who relocate their headquarters to Bermuda to escape the ongoing constitutional crisis with Beijing.1997 was a turning point: the United Kingdom finally decided to relinquish control of Hong Kong to China, but only under a specific set of rules and a 50 year timeline. Until 2047 Hong Kong was to be self-determined with its own systems of capitalism, currency, legal, legislative, human rights and other freedoms experienced in the Western democracies.This is all about to change.For over a year now news from around the world has picked up a constant stream of protests, and sometimes violent incidents between protesters and Beijing-backed police forces. More recently we've also seen pro-Beijing politicians use physical force to successfully take over democratic committee's in the legislative council. The Chinese Communist Party's intent is clear: Hong Kong is being forced to convert to communist state control nearly three decades early.Whether you agree or disagree with the Chinese economic model it is clear the One Country, Two Systems solution is on its way out, and not in the favour of Hong Kong's free market or its citizens who are used to the freedoms, trading status and wealth that came with it. Follow any media outlet and you'll also see political and trade tensions rising between the Western world (particularly the US) and China on a weekly basis - this is likely to get worse before it gets better and I believe Hong Kong will become a proxy.[News Update 27-May-20: "The U.S. has certified that Hong Kong is no longer politically autonomous from China, a move that could have far-reaching consequences on the special trading status the former British colony has with the U.S., Secretary of State Michael Pompeo said."]What we do know is that Hong Kong pre-2019 had the second highest economic freedom score after Singapore (another city-state Bermuda has considered modeling after), along with one of the most prosperous international business sectors in the world. Total GDP in the $400 Billion range.Bermuda, in contrast, is in a dire economic state with an even worse outlook thanks to a decade of decline and now the COVID-19 situation. A $4+ Billion total public & private debt is starting to hurt. What we need is an injection of outside capital not just in the short term, but in the medium and long term to improve economic sustainability. We need another Pillar of International Business.Why is Hong Kong such a great option and what are the similarities? A few of the main industries that support Hong Kong's economy are: Finance, Insurance, Trading & Logistics - extremely complimentary to Bermuda's current IB infrastructure. Many of Bermuda's (re)insurers and law firms already have branches in Hong Kong, making the outreach and transition much more effective. We also have a history of re-domiciling companies from Hong Kong, starting in a similar period of uncertainty - Jardine Matheson was one of the first. This would also be a great way to grow our existing access to the massive East Asian markets and funds, where we're only now scratching the surface. Many Hong Kong companies are already listed on Bermuda's BSX. Those businesses who cannot operate under the future state-controlled CCP model will need to make contingency plans: many will be seeking options with a one-foot-out-the-door strategy in the short term. Bermuda is a perfect place for this headquarters reorganization, or simply a second office close to North America and Europe. The businesses being attracted will be exempt, and as with other exempt industries can be mandated to have a 20%+ Bermudian workforce. They will also be renting offices, apartments; buying houses, groceries, air conditioning etc. Hong Kong operates primarily under English Common Law (Bermuda does as well). Citizens of Hong Kong speak English (46% overall, but most in the international business arena), and the majority have been through some of the world's best educations systems. Bermuda could use a more diverse personal connection to Asian economies and this would certainly help. Cayman has already taken so much of our Asian legal business (majority which used to be ours) and have laid a foundation to increase their share - Bermuda needs to do the same. 315,000 Hong Kong citizens are already British National (Overseas) passport holders, and all of them were British Citizens as early as 1997. The UK is rumoured to be planning a similar offer. [Update 29-May-20: the UK is now formally considering offer extendable 12 month live/work visas and pathway to citizenship for up to 3 million HK residents] This is a great way to offer a moral and Human Rights-positive option for people who are arguably entering a time of personal and economic oppression. They will need the worlds support to continue their lives in a self-directed, pro-freedom and democratic system. Hong Kong's economy is vast and Bermuda would only need to attract a very small number to start seeing the benefits.Finally: it's a way out of our downward spiral. We don't have to give up full citizenship (12-month extendable permits / PRC if they relocate / invest / immediately hire Bermudians), it will increase our foreign capital trade, it will bring more jobs to Bermudians and it will vastly increase the tax revenue, local spend and transactions within Bermuda by having these people and companies here.If this sounds like a good idea, we should also encourage local businesses to drive this growth by providing similar opportunities to the people who already live and work here, along with their overseas colleagues who will grow our existing IB industry at the same time.UPDATE (27-May-20): - Here goes their autonomy/trade status:"US Says Hong Kong Autonomy is Gone"https://www.bloomberg.com/news/articles/2020-05-27/pompeo-finds-hong-kong-is-no-longer-autonomous-from-chinaUPDATE (1-Jun-20): US considers welcoming Hong Kong people, entrepreneurs.https://www.reuters.com/article/us-hongkong-protests-usa-pompeo/pompeo-says-u-s-considering-welcoming-hong-kong-people-entrepreneurs-idUSKBN23837AUPDATE (2-Jun-20): The UK has asked Australia, New Zealand, United States and Canada to consider offering residency to Hong Kong citizens to ease a major flight.https://www.smh.com.au/world/europe/uk-may-ask-australia-to-give-residency-to-fleeing-british-hong-kong-residents-20200603-p54yws.html

Connor Burns6 years ago TLDR: With plans underway to take horticultural waste elsewhere, Public Works should take on a scalable conversion of Marsh Folly into a public park to stimulate otherwise lost construction jobs, leaving a low-income area with significantly improved property values, Bermuda with a large recreational park (unbroken cycle and running lanes like Central Park), and a preventative healthcare initiative that gets more people outside.Turning Marsh Folly into a park is a long-held dream for many over the past century. However, the stars are aligning in Bermuda to finally make it happen for the benefit of us all, and in particular the benefit of those neighborhood surrounding it.Healthcare reform and waste infrastructure redevelopment are two initiatives the Bermuda Government are already undertaking. Alongside this is a challenging cost of living and wealth disparity. The following cover the general situation:Healthcare: Bermuda is in a health crisis which is evident in cost of healthcare, overuse of services, health statistics and lack of preventative care (by individuals and society). It is sometime difficult and dangerous to exercise on our tight public roadways, and there aren't many alternatives. The Government needs to be seen making progress for the people towards a more sustainable healthcare future. Waste Infrastructure: There is movement towards re-development of Tynes Bay into a more comprehensive and modern waste-to-energy plant, including the ability to take the volume of horticultural waste currently going to Marsh Folly. The dumping of horticultural waste at Marsh Folly is also a significant detriment to the water lens and ecology of this valley leading all the way to Mills Creek. As we all know - it also catches fire now and then! Wealth DisparityMost homeowners in Bermuda are feeling financial pressure in the current economy – a significant number of whom are located in a single area North of Hamilton.Public Works Economic Stimulation Projects:The Bermuda Government needs to find beneficial labour-based construction projects to spend on to keep the economy going. Scalability is key.What do these have to do with each other?Finally turn Marsh Folly into a public central park.Why now and what will this do? Government is tackling healthcare costs, but preventative care through the promotion of exercise, getting outdoors and using open space is of equal importance. The Government need to be seen promoting better health and providing means to make it happen. No greater and simpler way to do so than creating a public park with exercise lanes (running, cycling) and workout stations. Note that there is no other place in Bermuda that has the potential to hold formal exercise routes away from congested and dangerous public roads – this should get support across the Island. Tynes Bay is already going to be converted to allow horticultural waste (plant waste), but could be accelerated through the use of a drying machine (allow it to start converting next year instead of a few years from now). Turning a waste dump into a public park in the middle of many lower-income neighborhoods and homeowners will immediately start raising the value of property and rentals in the area, and thus the wealth of North Hamilton, St. Monica’s and more. A Public Works project like this is also scalable: need to stimulate more? Create a longer paved running route. Need to scale back? Don't build that extra bathroom - at least now you have a fantastic park and green space. This would also just make Bermuda a better place.

Connor Burns6 years ago Our buses and ferries are expensive, bring us huge maintenance headaches and cost us way to much for their utility. But let's not outright replace them; instead why not train locals for the future of electrified transportation by converting existing buses to electric drive trains, and existing ferries to hybrid diesel electric. It's happening around the world and we're a prime place for it (high cost fossil fuels, high cost maintenance).This would allow us to operate these assets much more cost-effectively (lower fuel costs, lower maintenance on electric motors) and have trained experts in the civil service who will now be more valuable in the private sector as the rest of Bermuda's transportation sector electrifies.Spend some capital, save money in the long run and help move civil servants (a cost) into skilled private sector jobs (taxable income).

Connor Burns6 years ago Ranked-choice voting is an electoral system being adopted more and more in which voters rank candidates by preference on their ballots. If their number #1 candidate does not win the majority, their vote isn't 'lost' - instead their vote moves to the second candidate on their list. This not only allows for the final winning party to have majority support, but removes the incentive for political parties to consolidate down to just two polar opposites (which ends in "us vs. them", whoever puts more fear of the opposition wins over voters emotions) and instead allows more independent people and parties to join and have an impact.List of positives over our current system:Promotes majority support - The voting continues until one candidate has the majority of votes, so the final winner has support of the majority of voters. Discourages negative campaigning - Candidates who use negative campaigning may lose the second choice vote of those whose first choice was treated poorly.Provides more choice for voters - Voters can vote for the candidate they truly feel is best, without concern about the spoiler effect.Minimizes strategic voting - Instead of feeling compelled to vote for ‘the lesser of two evils,” as in plurality voting, voters can honestly vote for who they believe is the best candidate.Saves money compared to running primary elections (to narrow the field before the general election) or run-off elections (to chose a final winner after a general election, if no candidate has a majority, and if the law requires a majority for that office). With ranked-choice, the result can be obtained with one ballot.Provides an outcome more reflective of the majority of voters than either primaries (get extreme candidates “playing to their base”) or run-off elections (far lower turnout for run-off elections, typically).Learn more here: https://ballotpedia.org/Ranked-choice_voting_(RCV)and here: https://my.lwv.org/vermont/article/pros-and-cons-instant-runoff-ranked-choice-votingLet's lead Bermuda away from American politics and into a fairer and less polarized future we are all engaged with!

Connor Burns6 years ago The Bermuda Government needs to find beneficial labour-based construction projects to spend on to keep the economy going.Stop lights outside of city intersections are a detriment to effective traffic flow (and our sanity). Instead of lights, we should be implementing more round-a-bouts. The following are suggestions based on existing plans/infrastructure: Tee Street & Middle Road a dangerous intersection and is slated for stop lights, this needs to be a round-a-bout. Tee Street & South Road is a dangerous intersection and was once slated for a round-a-bout but is not anymore. This should be pursued. Collectors Hill & South Road is a slow headache of an intersection with Stop Lights and would greatly benefit from a carefully considered round-a-bout.

Connor Burns6 years ago Somewhat similar to how the US separates the Legislature (Congress: House & Senate) and Executive (President/White House Team): Allow the public to vote on which Member of Parliament (or non-parliamentarian) is right for the job of each particular ministry instead of a catch-all choice between polarized political parties. Let the general election of party decide the Premier and split of Members of Parliament (as current), but that Premier now must work with and lead the democratically elected Cabinet in the country's new direction.Let the politicians do their job in the House and Senate, but let the best person for the job run the specialty divisions.Let the people vote for individuals they think have the best history, attitude, competence and leadership for the job of Finance, Health, Public Works, Education, National Security, Community Affairs, Tourism and Transport etc. This way they are individually held accountable to their public service post and a whole cabinet of potentially great ministers doesn't get sidelined in the following election.For example: if you think Curtis Dickinson (Min. Finance) has been doing a great job navigating this crisis, or Wayne Caines (Min. National Security) has been an excellent communicator on topics of national importance, or Diallo Rabain (Min. Education) has kicked off some great changes to our education challenges, why not keep them in that role? Alternatively, if there's an excellent willing Bermudian out there who wants to take on Education but isn't part of a political party, why shouldn't we be able to elect them to lead the next phase, separating the executive role from the legislative role? It keeps continuity in Government plans and its operations when we don't overhaul everyone and their entire ideology from scratch every 5 years.The biggest benefit: this breaks down party politics and the "us" vs. "them", polarizing two-party system that many democracies struggle with. This also forces members of Cabinet and Parliament to work together across the aisles, rather than supporting and opposing on party lines.Just a thought to create a better, more accountable and more stable Government of the People.

Connor Burns6 years ago

Connor Burns6 years ago With all the major benefits of issuing debt to locals, in local currency (interest payments go to Bermudians to spend locally, not foreigners, and maintaining the balance of Bermuda dollar FX trade by reducing foreign currency purchases, among others), why has this not become the standard already?The Bermuda Bond is a great idea as many Royal Gazette articles have recently pointed out. It should become the baseline standard that any debt issuance by the Bermuda Government is first issued locally to Bermudians in Bermuda Dollars before reaching to foreign markets in USD.Let locals gain the interest and reinvest in in Bermuda rather than send all of it overseas.

Connor Burns

All input submitted by this participant

A Crisis in Hong Kong: A New IB Pillar in Bermuda

Public Works: Turn Marsh Folly into a Central Park (finally!)

Futureproof Workforce: Convert Buses to Electric, Ferries to Hybrid Electric

Ranked-Choice Voting (No More BiPolar Politics)

Public Works: Round-a-Bouts Instead of Lights at Tee Street & Collectors Hill

Individually & Democratically Elected Ministers

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Bermudians to get First Right to All Future Government Debt/Bond Issuance