Good day to members of the media and the listening public.
Economies with ageing populations around the world have been presented with numerous challenges, including increased healthcare and long-term care spending, labour-force shortages, declining economic activity and old age income security.
Bermuda is no different. We have a rapidly ageing population, which will present a common set of challenges to those experienced worldwide. Current statistics show that demographics are working against Bermuda in terms of our total population and demographic profile.