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Consolidated Fund Financial Statements

Consolidated Fund Financial Statements

Junior Minister of Finance Wayne Furbert tabled the audited financial statements relating to the Consolidated Fund for the year-ended March 31, 2017 in the House of Assembly today [Dec 8]. Mr Furbert said, “The Consolidated Fund is the general operating fund of the Bermuda Government and is the Fund through which Government conducts the majority... Read more of this article

Govt’s Loan Facility With Bank Of Butterfield

Govt’s Loan Facility With Bank Of Butterfield

The Government is executing a $135 million 18 month loan facility agreement with the Bank of Butterfield, Premier and Minister of Finance David Burt said, adding that “it must be noted that at this time Government has not borrowed $135 million but only is arranging a facility in place to borrow up to this amount.” Speaking the House of Assembly... Read more of this article

List: Payments From Confiscated Asset Fund

List: Payments From Confiscated Asset Fund

A list of payments from confiscated asset fund was provided by National Security Minister Wayne Caines in the House of Assembly on Friday [Sept 22]. The list includes $3,522,350 to ‘Government departments’, $212,366 in ‘court-ordered legal fees and other fees,’ and $667,800 to ‘local beneficiaries’ for a total of... Read more of this article

Premier: $12.69M In ‘Unbudgeted Expenditure’

Premier: $12.69M In ‘Unbudgeted Expenditure’

[Updated with video] Premier and Minister of Finance David Burt tabled a Supplementary Estimate in the House of Assembly today [Sept 15] detailing over $12.6 million he said was a “combination of unbudgeted expenditure items which were incurred by the previous administration” for the America’s Cup, World Triathlon Series, Casino Gaming... Read more of this article

Govt: 2017/18 First Quarter Fiscal Performance

Govt: 2017/18 First Quarter Fiscal Performance

The Ministry of Finance today [Aug 24] reported on the 2017/18 First Quarter Fiscal Performance, saying that revenues for the first quarter ending June 2017 are $249.9 million; current account expenditures, excluding debt service, for the first three months ending June 2017 are $232.3 million; and gross debt at the end of June 2017 stood at $2.494 billion. 2017/18... Read more of this article

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

Video: Minister On Tourism, Transport & Budget

Video: Minister On Tourism, Transport & Budget

Tourism, Transport and Municipalities Minister Michael Fahy held a press conference today to provide an overview on his Ministry’s budget and initiatives taking place in Departments within the Ministry. Minister Fahy said, “Government policy of creating a business climate to attract inward investment is resulting in Bermuda’s rise among the... Read more of this article

Minister Of Health: Budget Will Be Cut By 13%

Minister Of Health: Budget Will Be Cut By 13%

“Because of our country’s debt and the burden of servicing that debt, we’ve had to be very disciplined about allocating funds,” Minister of Health & Seniors Jeanne Atherden, adding that, “as of April 1st, this Ministry’s budget will be cut by 13%, or $23.6 million.”Minister Atherden said, “You will all be aware... 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