Premier Burt Releases ‘Pre-Budget Report’

January 18, 2018 | 50 Comments

With the 2018/19 Budget set to be delivered on February 16th, Premier and Minister of Finance David Burt has released a 35-page Pre Budget Report and will also host a public meeting on January 30th, saying that Government “want to establish a clear and transparent Budget process.”

Speaking at a press conference today, Premier and Minister of Finance David Burt said, “On Friday 16 February, I will deliver the 2018-2019 Budget Statement in the House of Assembly. This Progressive Labour Party Budget will focus on the people who for the last five years have not been a priority. Our aim is simple, to grow Bermuda’s economy and ensure that the benefits of that growth reaches all persons in Bermuda and not just a select few.

“We have to put in the work now, by investing in Bermudians, and training our young and not so young people in the skills they will need for tomorrow’s economy. We will encourage entrepreneurs, providing them with the support needed to start or grow their businesses to create greater economic empowerment.

The 17-minute live video replay is below:

“And we must also look for companies who want to invest in Bermuda. We must make ourselves not only marketable, but competitive in the global arena, and shift our paradigm to explore innovative opportunities in technology and put real effort into diversifying our economy. Finally we must use technology to make government more efficient.

“With this in mind, we want to establish a clear and transparent Budget process. I will continue with a tradition that started under a previous PLP government, and will issue a Pre-budget Report. This report will provide everyone with an opportunity to understand the focus of the next Budget.

“This Government wants to hear from the people of Bermuda. We want to hear your thoughts and your concerns. We want to know what you like about the Pre-budget report, what you want to see changed and what you would like to see more of.

Premier David Burt On Pre-Budget Report Bermuda Jan 18 2018

“The Junior Minister, Wayne Furbert, and I will hold three meetings in the next few weeks. Tomorrow, we are meeting with members of the International Business community. On 29 January, we will host a lunchtime meeting starting at 12noon at the Bermuda Industrial Union – for BIU and BPSU members.

“It is important to hear from the public officers who carry out the day to day work of the government and this meeting will provide union members with an opportunity to ask questions and make suggestions. On 30 January, the Junior Minister and I will host a public meeting at the St. Paul’s Centennial Hall from 6pm. Everyone is invited to attend. We will give a presentation and open the floor to suggestions, comments and recommendations.

“Once the consultation period has ended, on 31 January, we will evaluate all responses we have received as we finalise this new Government’s first Budget. If for any reason people cannot attend the public meeting, we have posted the Pre-budget Report at www.gov.bm/prebudgetreport and comments can be sent to openbudget@gov.bm.

“The goal of the 2018 Budget will be to ensure that all Bermudians benefit from our economy’s success while we grow Bermuda’s economy. We want to hear from you. So take a few minutes to read the Pre-budget Report, come to the public meetings and share your thoughts. I thank the Junior Minister for his work on this report and the public officers in the Ministry of Finance who have assisted in the preparation of this report.

The full Pre-Budget Report follows below [PDF here]:

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Comments (50)

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  1. Justin says:

    Taxes in the pipeline for taxi drivers, commercial property landlords in Hamilton and a sugar tax. Meanwhile, the PLP haven’t created a single job yet in 6 months. This looks like the cuts and pain party! The civil service got araisr but it’s all coming back in increase payroll tax, sugar tax, etc…

    Meanwhile businesses will close because Hamilton rents will be going up due to taxes. Well done PLP. Lol

    • Wow, we never had this much Transparency from OBA.
      Priceless.

      • Justin says:

        The PLP promised more jobs. If we had more people with more jobs paying more taxes we wouldn’t need to increase taxes! Where are the jobs?!

        Economics 101 teaches us that the consumer ends up paying any increase in taxes. This budget is going is stepping on the brakes instead of stepping on the gas as far as the economy goes.

    • Apollo Creed says:

      Former UBP MP Jim Woolridge wrote in his book “the little white boys don’t mind you being in charge as long as they can tell you what to do – “The House That Jack Built.

      People like you is why the PLP won 24 to the OBA 12. The oba aka UBP and will keep on losing every election. Placing a black leader on the front lines will not help you anymore.

      • Justin says:

        Newsflash: nobody cares! Nobody is chained to Bermuda. The PLP can have the gov’t all they like. Like Evan Greenburg said years ago, “government’s make their move and then we’ll make our move”.

      • They will only if people fall for de Okiedoke again.

  2. Local says:

    He called Americas Cup a one time boost to the Bermuda economy. He can’t accept that Bermuda will see financial gains because of the Americas Cup for many years to come. He will continue to lie to the Bermuda people and try and make Americas look bad to his followers. Plp Premiers will go down as the worst in Bermuda history.

    • No consultation necessary says:

      Constantly in election mode.

      • Did you see that in ya crystal ball?

        • frank says:

          I do not think that taxing
          Commercial rents is a good
          Idea it will only cause rents
          To go up and not make bermuda
          A good location we need to try
          To keep companies here not drive Them away

    • Doc says:

      Local and Justin both of you sit in a corner and shut up

      • Double S says:

        I love the smell of PLP fascism in the morning.

        I don’t know how else to respond to you PLPers overwhelmingly intelligent responses. Always so comprehensive and full of facts. Nothing can get by you guys I tell you.

      • Justin says:

        You’ve got at least 4.5 more years of me pointing out the PLP’s blunders. 24-12!! LMAO!!!

    • Until a PLP Premeir resigns for shady dealings or party cant win after first term, OBA still holds de title for worst Premeir.
      LMAO

      • Double S says:

        PLP don’t have the morals to sack any of their own despite the overwhelming evidence which would justify such action. Instead the worse it gets the higher they get promoted.

        Party before country with you guys. Always has been and always will be.

      • Stevie says:

        Oh Onion Juice. Why don’t you & your stupid PLP supporters get your had out of the sand. PLP 1998 re run. BDA going to be broke again.

        • Stevie says:

          Oh Onion Juice. Why don’t you & your stupid PLP supporters get your head out of the sand. PLP 1998 re run. BDA going to be broke again.

  3. facts of the rock says:

    slither back under the rock you have been hiding under whilst Dreb and his cohorts were holding a circus show for the paid audience of Grandmas and Grandads

  4. Toodle-oo says:

    You want to find companies who want to (come to?) invest in Bermuda ?
    You guys really do have a sense of humor .

    How long is it going to take to sink into your heads that that horse bolted as soon as you were re-elected ?

    In other words , your attempts to grow our economy are going to be a massive fail .

  5. Ringmaster says:

    The Bermuda Infrastructure Fund will “channel investment into commercial and residential property”. Not a great idea as there is a surplus of both at the moment and unlikely to clear. What are needed are buses and a repair to the Causeway. Tolls anyone? Sell Grand Atlantic, recoup the $20m cost overrun at Port Royal and there’s $60m strahght away.
    At least the stats show the first six months of 2017 had increased revenue and decreased expenses. What about the second six months?

    • News says:

      What’s wrong with the causeway? That’s already in the maintenance budget

  6. Ringmaster says:

    In a large Corporation a Chief Financial Officer needs many years experience and qualifications. Bermuda is basically a large Corporation. What experience/qualifications do Premier Burt and Wayne Furbert have? I’d say very little except in IT and pyramid schemes. Good luck Bermuda.

  7. alicia says:

    I didn’t see anything in here about the cost of healthcare or taxes on healthcare….

  8. Triangle Drifter says:

    So here we are just a few weeks from budget day & he trots this out like the public can have some input & the budget can be modified.

    Here in the second half of January budgets are virtually complete & it is about to go to press. Who does Burt think he is fooling? About 60% of the voters I guess.

  9. Stevie says:

    More money wasted again. A pre budget paper? Oh who gets to be briefed first? The BIU. Hmm thought the general public came first. Oh the public meeting..where..Rev Tweeds church. Smell a big rat. Finally. Why didn’t Burt make condolence on news about Mr Edness instead of Rabain? E..wart Brown calling the shots. Wake up those who keep thinking PLP
    Going to get BDA back better. Wrong. 1998 returned.

  10. MB says:

    Robbing Peter to pay Paul
    In the end the money all comes of our pockets somehow…and makes Bermuda more costly.
    Bermuda needs to make more money and the best way is thru pop increase, simple.
    Lots of talk of diversifying economy but no actual actions
    Has anyone in the govt actually read what’s happening in Cayman…and how?

    • mixitup says:

      Yes, Born Caymanians are no longer the majority of the populace in their own land, at the expense of what? They are not living any better, their ideals have been marginalized all for someone wanting a condo on the beach in the sun. I have born Caymanians friends who are mortified at what’s happening on their Island…. You must be talking to the bus loads of expats now clammouring for Permanent Residency by flashing their dollars earned from a lifetime of privilidge.

      • Double S says:

        I am sure you don’t have born Caymanian friends. I go to Cayman quite often and given the unemployment rate is <4% and the Government is now making surpluses to the effect that the civil service is enjoying pay rises the economy is booming and everyone involved ins benefiting.

        You are just telling stories to justify your xenophobia (ie the foreigners are going to take my jobs and eat my children).

        What a good little Trumper you are

  11. Ashley M de Sa says:

    Glad to see that they looking to prevent what happened last time, the large increase in debt. Their main goal seems to be fixing their mistakes of the past. I’ve actually quite enjoyed them so far, they seem to be doing a lot of things that have Bermuda’s best interest at heart. I hate that there are so many taxes being added and that taxes will go up, but I understand why they’re doing it.

  12. Zevon says:

    So the report is given to BIU members first, amd then a meeting is held in a church. They think that’s talking to the public.

    • Stevie says:

      Agree.1988 returned to haunt BDA again. Think Burt going to follow the same logic of past PLP government.

  13. Joe Bloggs says:

    Meanwhile, more than half of all taxes collected still go to paying interest on money borrowed between 2004 and 2012.

  14. Seascape says:

    Yup 1998 has returned….it is starting all over again. Two steps forward and now 10 steps back.

    Notice how they use green in the report….

  15. Spanner breath says:

    I noticed none of there supporters comment much anymore, tired of their hot air!

  16. BullyBreed says:

    The Bermuda Economy in 2017 and the Future Outlook
    Summary Economic Indicators: Mid-Year Economic Review 2017
    *Comparative data over the first half of 2017, except when otherwise indicated.
     The year-to-date (September) average Consumer Price Index was 2.0% and the
    12-month average rate was 1.9%. The primary causes of inflation during the last
    12 months were increased costs of airfares, due to the privatisation contract at
    the LF Wade International Airport and fuel prices in the Transport & Foreign Travel
    sector, the higher costs of electricity, and increases in the average cost of tuition
    fees for local schools and overseas colleges

    Can someone explain to me how the new airport has anything to with the price of airfare?

  17. Good, Burt. Your pre-preparedness speaks volumes about your organizational style….to focus on the forgotten….terrific!!!
    So happy the P.L.P. have power NOW!!!
    Continue to fulfill the PEOPLE’S desires and wishes.
    FANTASTIC!!!

  18. aceboy says:

    Be afraid, be very afraid.

    A tax on commercial property landlords at a time when rents have come down significantly and all kinds of incentives are being offered to attract tenants?

    REALLY?

    Tax tax tax spend spend spend.

    More of the same from these guys.

  19. Rocky5 says:

    Pre-budget, a bit like the Pre-pregnance – just make sure you kiss me before you F@#¥ me!

  20. campervan says:

    I really don’t see how the figures can add up any more. Too much of the population has drifted away leaving the ageing remainder holding the bag.
    Previous poor policies have meant the departure of long term residents. The door is all but closed on fresh PRC candidates. The gay community is scattered to the winds, tired of being treated as second class citizens. Potential new expatriates see better long term prospects in places like Cayman so will head there given the choice. Young Bermudians (and not so young) have moved on to the UK now the barriers to residency have been lifted. Its all one way traffic.
    Larry Burchal and John Swan went to great lengths to illustrate the dangers of a declining res pop, but it seems that not enough people were listening.
    If IB was still going great guns, as in previous years, then much of the above wouldn’t have such a fiscal impact. IB is not going great guns though. The tide is going out and the true state of the economy is rapidly being exposed
    Good luck selling that tired property to a dwindling pool of Bermudian buyers.
    Good luck keeping those health care costs under control as the young, the fit, the energised moved on.

  21. Lol says:

    Thank you Premier Burt. Continue the good work.

  22. wahoo juice says:

    Who is the guy behind him?

  23. Ringmaster says:

    Under the PLP the debt will never be paid down. Any surplus will be spent to keep the voting populace happy and the PLP in power. There is a current surplus so no new taxes would be needed if not for the debt created by the PLP when revenues exceeded budget but were spent, plus money borrowed. It had nothing to do with the global recession, it was the PLP spending money and creating debt. Only a few years now before their voter base experience the folly of the PLP spending binge.

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