Tag: Bermuda politics

Report: Island Has Lost 6,726 Jobs Since 2008

Report: Island Has Lost 6,726 Jobs Since 2008

According to the recently released National Economic Report of Bermuda, the island has lost 6,726 jobs since 2008, which is a reduction of 16.7%, with 790 of those positions lost last year. The report — which was released on Friday [Feb 20] — said, “Preliminary data from the 2014 Employment Survey indicates that the total number of... Read more of this article

Mergers “Likely To Give Rise To Redundancies”

Mergers “Likely To Give Rise To Redundancies”

The “merger mania” we have witnessed in Bermuda’s re/insurance business in the past year is “likely to give rise to redundancies,” Finance Minister Bob Richards said as he delivered the 2015/16 Budget in the House of Assembly on Friday [Feb 20]. In recent months, XL Group confirmed it will acquire Catlin Group, RenaissanceRe... Read more of this article

‘Cannot Guarantee Reductions Without Layoffs’

‘Cannot Guarantee Reductions Without Layoffs’

“We cannot guarantee that the planned reduction in spending can be achieved without layoffs of workers in the public sector for the coming fiscal year,” Finance Minister Bob Richards said during the 2015 Budget speech in the House of Assembly today [Feb 20]. Minister Richards said, “Personnel costs are crippling the Bermuda Government’s... Read more of this article

PwC Bermuda Release 2015 Budget Infographic

PwC Bermuda Release 2015 Budget Infographic

PwC Bermuda has released a Budget Highlight sheet, breaking down the major points of the 2015/2016 budget and providing a general summary, along with a focus on revenue, debt, growth, and expenditure. Tom Miller, Managing Director of PwC, said, “The Minister made his case for the threat to our financial independence, as deficits swell our national... Read more of this article

Opposition’s Initial Response To 2015/16 Budget

Opposition’s Initial Response To 2015/16 Budget

Following the delivery of the 2015/16 Budget by Finance Minister Bob Richards this morning [Feb 20], both Opposition Leader Marc Bean and Shadow Finance Minister David Burt provided initial responses, with the PLP’s full Reply to the Budget set to be delivered next week. Shadow Finance Minister David Burt said, “In his third Budget Statement... Read more of this article

Charts Only: 2015-2016 Bermuda Budget

Charts Only: 2015-2016 Bermuda Budget

For those seeking a quick visual view of the 2015 Budget delivered in the House of Assembly by Finance Minister Bob Richards this morning [Feb 20], the charts extracted from the Budget are below. For comparison’s sake, charts from the 2014 Budget are here, charts from the 2013 Budget are here, charts from 2012 Budget are here, charts from the... Read more of this article

Full Document & Highlights: 2015/2016 Budget

Full Document & Highlights: 2015/2016 Budget

This morning [Feb 20], Finance Minister Bob Richards delivered the 2015/16 Budget in the House of Assembly, detailing the Government’s financial plans for the coming year. You can view our live blog of today’s events here, and the full budget statement below. Some of the budget highlights include:As of March 31 2015, gross public debt will stand... Read more of this article

Live Updates: Finance Minister Delivers Budget

Live Updates: Finance Minister Delivers Budget

[Updated] Finance Minister Bob Richards is set to deliver the 2015 Budget in the House of Assembly this morning [Feb 20], which will set out the Government’s financial plans for the upcoming fiscal year. This will be the third budget devised by Minister Richards since the OBA’s victory at the polls in 2012, following after the 2013/14 Budget... Read more of this article

BIU President Responds To MP Leah Scott

BIU President Responds To MP Leah Scott

BIU President Chris Furbert responded to MP Leah Scott’s recent column on “FurloughGate” saying he is not sure why Ms Scott has “taken this position, when clearly she is so far off base from the real issue.” Mr Furbert said, “The Bermuda Industrial Union believes that the Hon. Leah Scott’s comments regarding Furlough... Read more of this article

Opinion: Allowing Prisoners To Vote In Elections

Opinion: Allowing Prisoners To Vote In Elections

[Opinion column written by Jonathan Starling] As the UK gears up for its first general election under their new fixed-terms election system [which raises another question of where the OBA’s promised political reforms on this are…], the issue of voting rights for prisoners has flared back into the news. This, too, was an issue that was raised in... Read more of this article


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