Senator On Budget, Debt, Finances & More

March 16, 2011

This morning [Mar.16] Junior Minister for Finance Senator David Burt spoke on the 2011/12 Budget, saying “the headlines of the Budget are widely known, but I will take a little time to review them in more detail this morning.”

The Senator went on to discuss various aspects including the planned open budget process, debt, revenue, the sinking fund, privatisation, renewable energy, unemployment, work permits and much more.

On privatisation, Senator Burt said, “Madam President, the long-term benefit of a policy of deliberate privatisation of
government services will be increased efficiency in the delivery of public services and a reduction in future pressure on Government finances.”

“I do not believe that such items should be approached haphazardly or insensitively. Though there are many candidates for privatisation such as transport, postal services, waste collection, waste treatment at tynes bay, water and recycling; just because something has worked another place in the world doesn’t mean it will work in Bermuda. The risk of damage to our economy will be great if we get it wrong.”

The full 33-page document is below, click ‘Full Screen’ for greater clarity:

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