Union, business and hospitality leaders will meet with Government this weekend at a two-day retreat aimed at finding solutions to ease the economic hardship Bermudians are facing during these tough economic times.

The Tripartite Economic  Committee will meet on Thursday, November 14 and Friday, November 15 at the Fairmont Hamilton Princess

This Thursday and Friday (Nov. 14 & 15) at the Fairmont Hamilton Princess, the Minister will be joined by close to 150 representatives from the Island’s business, hospitality and union sectors for the Tripartite Economic and Labour Retreat.

Home Affairs Minister Michael Fahy, who is also the chairman of the Tripartite Economic Committee, will facilitate a meeting agenda that will assess the current state of the economy as well as engage in mediation and negotiation training sessions.

"There are several goals we are seeking to achieve with this summit," Minister Fahy said in a press release. "First and foremost we want to enact meaningful solutions to ease the burdens that Bermudians are facing. We are already moving in the right direction as evidenced by one of our Throne Speech initiatives, the pledge that our grocery chains will offer a 10 percent savings for residents on Wednesdays starting December 1.

"We also want to have an open and frank conversation about where we are economically and what we can reasonably expect to achieve in the months ahead. So it's hoped that this retreat will enhance our communication and the critical working relationships among the Unions, Government and Business."

The Memorandum of Understanding (MOU) between the Bermuda Government and the Bermuda Trade Union Congress (BTUC), which was signed in July this year, said the two parties will come together to help to reduce the current deficit through cost cutting measures. 

One of the agreements reached in the MOU was the formulation of a Tripartite Economic Committee. The BTUC’s position that any economic recovery initiatives for Bermuda that involves unionised bargaining groups should have union input was accepted by the Government representatives. 

It is anticipated that representatives from the following organisations will be in attendance; the Bermuda Industrial Union, the Bermuda Union of Teachers, the Bermuda Public Services Union, Prison Officers Association and the Bermuda Police Association, while the private sector will be represented by the Chamber of Commerce, the Bermuda Employers Council, the Bermuda Hotel Association, ABIC and ABIR.