Premier Ewart Brown delivered a passionate Ministerial Statement in response to the insulting and expensive announcement that the UK Treasury plans to review our financial operations. Premier Brown began his statement reassuring the people of Bermuda:

First, to assure the people of Bermuda, and in particular our important international business sector, that nothing negative can come of this review. This Government’s finances have been in the very capable hands of the late Honourable C. Eugene Cox CBE, JP, who was succeeded by our very own Minister of Finance, Paula A. Cox. At every turn, this jurisdiction has been on the cutting edge of pristine regulation, and is the envy of other jurisdictions as a result. As I indicated to this Honourable House previously, as recently as last month, a senior UK Treasury official had cause to comment that he wished that other jurisdictions were as well run as Bermuda. Bermuda can pass this financial review, and any other review, with glowing result. We have nothing to fear by this action, and we have nothing to hide.

Premier Brown goes on to explain the nature of the insult:

What we do have, which goes to my second point, is just reason to be offended and insulted. What we have is reason for all to take note of the downside of being a British colony. I do not dishonor the United Kingdom or Bermuda when I speak the truth of our relationship with regard to this action. Here, they are a supreme power, who does not contribute one penny to our livelihood, who just announced that they have determined we, and some of their other territories, need a review. They have the authority, by grant of our colonial relationship, to simply announce that they want to come, and we are obliged to receive them. Whether UBP or PLP, whether young or old, whether Black or White, whether royalist or revolutionary -- this should be an affront to every Bermudian.

What we have is a colonial relationship which costs the taxpayers $2 million a year. We pay that – without comment or notice – for the upkeep of the palatial Government House and its 30-plus pristine acres – at a time when land is at a premium in Bermuda. We pay that – without comment or notice – for the Governor and Deputy Governor’s salary and their cars, their security, their travel, their housekeepers and their maidservants.

That's right - $2 million a year just so that the Governor and Deputy Governor can live lavish lifestyles. This morning's Combined Opposition responded not with outrage over this waste of taxpayer money but with a "they do it too" response. Lame. It's telling that not even The Royal Gazette can justify that outlandish annual expenditure to the Bermudian public. Premier Brown continues by appealing to all Bermudians:

I particularly want our young Bermudians to take note – those who so highly value their lower tuition fees and ability to travel freely inside and outside the European union. At what price convenience?

I say to older Bermudians who relish the idea of having a British passport. At what price convenience?

To the young people I say, what if your mother had you stay at home forever – and for that, you had a supremely comfortable existence laden with enviable amenities – but anytime she wanted, she could barge into your room and search any of your private possessions. At what price convenience?

I say to older Bermudians, what if this or any Bermudian government just decided – because it could – that you and other citizens would have your bank accounts reviewed because we were concerned about widespread bank fraud? At what price convenience?

This so-called "review" is tantamount to an invasion of privacy without any just cause. You wouldn't stand for the UK Government poking around in your bank account without a shred evidence of wrongdoing. And, that's just one reason why we're not standing for this insulting invasion of privacy.

While the PLP Government will absolutely comply with the review and while we're supremely confident that we will pass with flying colours, we submit to the review under protest. Premier Brown:

There is an irony in the timing of this UK Treasury review. At a time when nations around the world are basking in the glow of the historic US election, some of the British territories are being brought to the knees of our colonial master by this intrusive intervention.

Nonetheless, this government will cooperate with the UK Treasury in every respect – because that is the nature of our colonial relationship. But we will do so with comment and under protest.

This Government is firmly of the view that issues of taxation and fiscal policy are solely the purview of the Government of Bermuda. Any attempt to breach the principle of internal self-government will be stridently resisted. We will be as vigilant as our colonial status allows and ensure that this review is not a cloak by which to intrude on matters appropriately left to the internal government.

It's up to all of us to fight back and protect Bermuda's interests from unnecessary and unwelcome encroachment from the UK government.