Hashtag: #Covid19Finances

Minister: $43M Paid In Unemployment Benefit

Minister: $43M Paid In Unemployment Benefit

Finance Minister Curtis Dickinson confirmed that unemployment benefits have been paid to over 10,100 persons for a total cost to date of approximately $43 million. Speaking at last night’s [July 2] press briefing, Minister Dickinson said, “The term of the unemployment benefits has been extended for an additional 4 weeks, for a total of 16... Read more of this article

Video: BNV Discussion On Bermuda’s Economy

Video: BNV Discussion On Bermuda’s Economy

[Updated with video] At approximately 2.00pm today [July 1] Craig Simmons, Cheryl Packwood, and Nathan Kowalski will be joining host Don Burgess for another Bernews News & Views video, discussing the island’s economy and the impacts of Covid-19. The pandemic “unleashed both a global health emergency and an unprecedented economic crisis of... Read more of this article

Payroll Tax Relief For Restaurants And Bars

Payroll Tax Relief For Restaurants And Bars

The Ministry has provided information on the payroll tax relief for qualifying restaurants and bars, with payroll tax to be set at a zero rate during the quarter ending 30th June 2020. A spokesperson said, “The Ministry of Finance has agreed that during the quarter ending 30th June 2020, payroll tax will be set at a zero rate for both the Employer... Read more of this article

HSBC Does Not Charge A Fee For UB Cheques

HSBC Does Not Charge A Fee For UB Cheques

In response to a question that was asked during the Monday [June 22] Covid-19 Update press conference, the Ministry of Finance confirmed that “HSBC Limited does not charge a cheque cashing fee for Unemployment Benefit cheques.” A spokesperson for HSBC said, “We can confirm that the cheque cashing fee is not charged for Unemployment Benefit... Read more of this article

Minister: Open Letter To All Public Officers

Minister: Open Letter To All Public Officers

Minister of Finance Curtis Dickinson sent an open letter to all Public Officers explaining the island’s financial situation and saying their “support is vitally important to our country’s success.” Open Letter Minister Curtis Dickinson said, “Dear Public Officers: Open Letter to All Public Officers – Our Economic Status “Our... Read more of this article

Colonial To Assist Clients With Pension Refund

Colonial To Assist Clients With Pension Refund

Colonial Pensions Services will be “assisting existing pension plans and/or local retirement product members” in their application for a “temporary refund of their pension funds.” A spokesperson said, “In response to the Covid-19 pandemic and the National Pension Scheme [Occupational Pensions] Act 1998, Colonial Pensions... Read more of this article

Can Apply For Pension Funds Starting June 1st

Can Apply For Pension Funds Starting June 1st

Starting on Monday, June 1st, persons will be able to make application for their funds, Minister of Finance Curtis Dickinson said in reference to the new legislation which will allow people to withdraw up to $12,000 of their pension. Speaking at last night’s [May 28] press briefing, Minister Dickinson said, “The public would be aware that the Government... Read more of this article

Minister: $32M Paid In Unemployment Benefit

Minister: $32M Paid In Unemployment Benefit

The Government has paid the unemployment benefit to over 9,000 people for a total cost of approximately $32 million, and over 2,600 individuals who were previously receiving benefits have now returned to work. Speaking at last night’s [May 28] press briefing, Minister Dickinson said, “This week, I authorized unemployment benefit payments... Read more of this article

Finance Minister: Covid-19 Economic Plan

Finance Minister: Covid-19 Economic Plan

[Ministerial statement by Minister of Finance Curtis Dickinson] Mr. Speaker, I rise this morning to provide this Honourable House with an update on the Ministry of Finance COVID-19 Fiscal Plan and the formation of Government’s new COVID-19 Economic Advisory Committee. Mr. Speaker, in my Ministerial Statement of 8th May, 2020, I advised this Honorable... Read more of this article

Minister: Further Economic Relief Measures

Minister: Further Economic Relief Measures

“The Government has implemented further emergency measures to assist businesses that have a pressing need for financial relief as a result of this pandemic,” Minister of Finance Curtis Dickinson said. Speaking on the Unemployment Benefit programme that is already in place, the Minister said, “We will now have paid benefits to over... Read more of this article

Bermuda’s Politicians To Take 12.5% Pay Cut

Bermuda’s Politicians To Take 12.5% Pay Cut

Revisions to Parliamentary pay will be tabled in the House of Assembly, with Parliamentarians set to take a 12.5 percent reduction, Premier David Burt said. Speaking at last night’s press briefing, Premier David Burt said, “Following our meeting of Cabinet yesterday and after conversations with both the Government’s backbench and... Read more of this article

BHA Request UB Extension, Amendments

BHA Request UB Extension, Amendments

The  Bermuda Hotel Association has asked the Bermuda Government that consideration be given to three specific areas “that will ensure the future reopening and sustainability of our key industry through these turbulent times.” In a letter sent to the Premier,  BHA CEO Stephen Todd said, “On behalf of the Bermuda Hotel Association... Read more of this article

Employment Impact Of Covid-19 In Bermuda

Employment Impact Of Covid-19 In Bermuda

Total Research Associates Limited [TRA] recently conducted a pulse survey to determine the employment impact of Covid-19 in Bermuda, saying that approximately four in ten have experienced a reduction in their number of work hours, one-third have seen a reduction to their salary or pay and one-quarter of islanders [excluding those who are retired] have... Read more of this article