Hashtag: #BermudaGovernmentRevenue

National Security Ministry 2017 Budget Briefs

National Security Ministry 2017 Budget Briefs

National Security Minister Jeff Baron delivered the Ministry Budget Briefs in the Senate earlier today [March 22], and the Budget Briefs for the various departments within the Ministry are below. In discussing the budget for the Bermuda Police Service, the Minister said, “The staffing level in the BPS has dipped below 400 officers for the first... Read more of this article

2016 Consolidated Fund Financial Statements

2016 Consolidated Fund Financial Statements

In the House of Assembly on Friday, Minister of Finance Bob Richards tabled the audited financial statements relating to the Consolidated Fund for the year-ended March 31, 2016, saying that Net Public Debt stood at $2.218 billion. The Consolidated Fund is the general operating fund of the Bermuda Government and is the Fund through which Government... Read more of this article

Column: ‘People’s Budget Sets Right Priorities’

Column: ‘People’s Budget Sets Right Priorities’

[Opinion column written by Shadow Finance Minister David Burt] To serve as the Opposition Leader of Bermuda is an honour. I would like to emphasise the word “serve”. To the voters who elected me: I serve you. To those who didn’t: I serve you. All my Parliamentary colleagues will always be mindful of who they serve: the people. It is the People’s... Read more of this article

Video: Interview With Finance Minister On Budget

Video: Interview With Finance Minister On Budget

Finance Minister Bob Richards sat down with Bernews today for a live interview on our Facebook page, where he discussed the 2017 Budget. Speaking with guest interviewer Jeremy Deacon, Minister Richards spoke about various aspects of the Budget, including the national debt, the reaction to the Budget, payroll tax and more. If you want to listen ‘on... Read more of this article

Charts Only: Opposition’s 2017 Budget Reply

Charts Only: Opposition’s 2017 Budget Reply

For those seeking a quick visual view of the Progressive Labour Party’s official response to the 2017 Budget, which was delivered in the House of Assembly by Shadow Finance Minister David Burt today [March 3], the charts extracted from the Reply are below. You can view our live updates of the Budget Reply here, the complete Reply to the Budget here,... Read more of this article

BPSU Response To 2017/2018 Bermuda Budget

BPSU Response To 2017/2018 Bermuda Budget

The current Budget is a “welcomed deviation from the status quo fiscal policies that we have seen in past budgets,” the Bermuda Public Services Union said, adding that the “2017/18 budget reflects the reality that the tax burden has not been equally shared in Bermuda for many years.”Finance Minister Delivers Budget Introducing... Read more of this article

KPMG Responds To 2017/18 Bermuda Budget

KPMG Responds To 2017/18 Bermuda Budget

“Increasing taxes will help to balance the budget and should see Bermuda’s debt start to reduce in a few years, but there is more to be done in reforming the public sector,” KPMG said, adding that “increasing the cost of doing business in Bermuda may result in businesses moving their staff to lower cost jurisdictions.”Finance... Read more of this article

Premier: Budget Supports, Addresses Challenges

Premier: Budget Supports, Addresses Challenges

“We have worked hard to ensure this year’s Budget addressed our serious external challenges, while making sure that the people we serve here at home – our fellow Bermudians – are properly supported and cared for,” Premier Michael Dunkley said today. Speaking on the 2017 Budget, the Premier said, “I am particularly proud of our... Read more of this article

Minister: Trump, UK, Taxes & Impact On Bermuda

Minister: Trump, UK, Taxes & Impact On Bermuda

While delivering the 2017 Budget, Finance Minister Bob Richards addressed some of the developments taking place around the world and their possible impact on Bermuda, saying it is “part of the current international reality impacting and threatening the standard of living of all Bermudians” as the “risks to our international business... Read more of this article

Live Updates: Finance Minister Delivers Budget

Live Updates: Finance Minister Delivers Budget

[Updating] Finance Minister Bob Richards is set to deliver the 2017 Budget in the House of Assembly this morning [Feb 24], which will set out the Government’s financial plans for the upcoming fiscal year. We will be covering the Budget all day, providing live updates as the Minister delivers the speech, as well as posting a copy of the full speech... Read more of this article

Video: Summary Of The 2017 Bermuda Budget

Video: Summary Of The 2017 Bermuda Budget

Introducing a new Financial Services Tax, payroll tax changes and adjustments to customs duties were a few of the financial initiatives revealed as Finance Minister Bob Richards delivered the 2017 Bermuda Budget in the House of Assembly this morning [Feb 24]. In addition, the maximum taxable salary level will be raised from $750,000 to $900,000, land... Read more of this article

PwC Release 2017 Budget Highlight Summary

PwC Release 2017 Budget Highlight Summary

Following the delivery of the 2017/18 Budget this morning [Feb 24] by Minister of Finance Bob Richards, PwC Bermuda released a highlight summary sheet. “Government has aggressively focused on increasing revenues through actions such as tax reform and limiting concessions,” PwC said. ”Although the Government has attempted to reduce... Read more of this article

Video: Minister Holds Budget Press Conference

Video: Minister Holds Budget Press Conference

The 2017/18 Budget moves Bermuda closer to our goal of having a balanced budget, Finance Minister Bob Richards said today, adding that “projections for 2018/19 indicate that the Current Account surplus will cover interest charges and capital expenditures, meaning that for the first time in 15 years, Government will not be adding new net debt,... Read more of this article