2011 Budget Date Set: February 18
[Updated w/UBP response to delay] The Ministry of Finance announced that this year’s National Budget will be presented on Friday, 18 February 2011 at 10am in the House of Assembly, one week from previously announced.
Members of the Opposition have 14 additional hours for the debate, increasing the total to 56 hours compared to 42 hours in previous years. A Government spokesperson said they are “confident that all will work together to ensure the National Budget is passed prior to 1 April 2011.”
Update 5:43pm: The UBP has commented on the on decision to delay the Budget delay, with Acting Shadow Minister Finance Pat Gordon-Pamplin saying: “If the Government needs more time to get this Budget right, then that’s fine with us.”
Ms Gordon Pamplin went on to say that: ” Some people think the Budget delay is due to the Government’s difficulties in meeting the Premier’s pledge to cut $150 million in spending. That’s a tall order, but it is the goal she set and we’re sure she does not want a repeat of last year when almost all her colleagues ignored her instruction to cut spending. Finally, we expect the Budget to show real spending cuts.”
Her full statement is below:
If the Government needs more time to get this Budget right, then that’s fine with us.
They’ve been getting a lot of good advice lately from the business community as well as the UBP and the BDA, and they should embrace the suggestions and ideas because the dangers we face are real and all of us want to do what is best for Bermuda. This may require the Government to eat some crow. It has to recognize that its actions and decisions have played a big part in putting Bermuda in the economic hole.
We believe the Government has to change the way it conducts the people’s business if we are going to get this island back on a track toward to a more secure future. For us, that means putting the island first.
Some people think the Budget delay is due to the Government’s difficulties in meeting the Premier’s pledge to cut $150 million in spending. That’s a tall order, but it is the goal she set and we’re sure she does not want a repeat of last year when almost all her colleagues ignored her instruction to cut spending.
Finally, we expect the Budget to show real spending cuts. We have already said we will not support any plans that “meet” the $150 million total through the cancellatiion of capital projects that have not yet broken ground or the postponment of down-the-road spending plans. It is essential that the Government set an example people can believe in. Smoke and mirrors over spending cuts will not do it.
It’s all the UBP’s fault. They never gave the numbers…….
ITS GOING TO BE A BIG ONE MORE TAXES NOT SHORE ABOUT CUTS!!!
I wonder how many realize that work on the 2011/12 budget was started last October. At this point in time it is a matter of crossing t’s & dotting the i’s. The budget should be about ready to go to the printers.
Some serious cuts need to be made. Interest on $100,000 per day is over $1 per second for the taxpayer.
Cant wait to hear more negative comments…
I wonder how many consultants will be cut. I wonder how many exempt companies will leave. I wonder how many small businesses will survive 2011. I wonder how many Bermudians are trying to sell their homes without an agent commission. I wonder how many Bermudians are renting their 2 bedroom apartment to 10 shift workers. I wonder if students and seniors will have to pay their share for bus/ferry rides. I wonder if the ‘music fest’ will continue. I wonder.