Between 2004 and 2013 the PLP increased Government revenue from $706m to $867m which is a 23% increase. Over the same time period the PLP increased Government expenditure from $721m to $1.275b, which is a 77% rise. So in the space of ten years the PLP successfully tripled our expenditures when compared to revenue increases, which in turn increased our national budget deficit from $15m to $408m, which is a 2,620% jump. But, of course, the PLP doesn’t have any role in our current financial quagmire. So the OBA came into power with an inherited $408M deficit, which cannot be resolved overnight as the actions required would simply have brought the economy to a complete halt. Hence the “glide path” put forward by the SAGE Commission and adopted by the OBA.
In order for our massive deficit to be closed as of now, it would require the OBA to raise an additional 47 per cent of revenues on top of the $867m recorded as at March 31, 2013. Do you revenue raising/anti-cut advocates think that the OBA, or any Party, can magically raise this out of thin air in the middle of a recession? Let me put it in perspective for you. Between 1999 (the PLP’s first budget) revenues were $546m while at their last budget (2013), as noted, the revenue was $867m.
So over their 14-year period of governance the PLP were only able to raise revenues by $321m or 59 per cent or $23M per year. But somehow some people think the OBA can magically increase revenues by approximately 50 per cent after two years of being in power?

(My, my, my as Joe Brown would say )
P.S. Note the dates)

(Updated Mar 16, 2011
(Related Stories)

“Junior Finance Minister David Burt suggested today that the Government should consider privatizing some of its services in order to inject “much needed innovation” into the economy.
He told the Senate candidates for privatization could include Public Transport, Postal Services, Waste Collection, Waste Treatment, Water and Recycling.”
Doesn’t this sound contrary to the “here and now” remarks made by Mr. David Burt?

The banks should be lending more money, says Burt the videographer, but we should make sure thst people don’t have to repay those debts.

Support, sure. But still have to be willing to challenge when you feel they’re going astray.

We are in the position we are in because:

1)The PLP spent and wasted money?
2)The PLP paid out eight hundred million dollars in money that nobody can account for? Where did it go.
3) The PLP treated international businesses badly and with no respect. Companies did not close because they went bankrupt! They moved entirely, or moved much of their staff elsewhere because other jurisdictions treated them better.
4) the PLP had no plan and judging by ttodays response, they still don’t!

You get thrown in jail after everyone including the courts have already tried to work with you but you still choose to ignore your resposibilities. At that point you need to be taught a lesson.

If you owe child support and know you do and wont pay but you somehow find the money for the newest iPhone, vacation, Flat Screen TV, well you deserve jail time as a punishment.

Jail has always been a LAST resort, not a first choice! Should we go back to breaking knee caps?

Where are the ideas,constructive criticisms, alternatives, improvements, and the examples showing what they (the PLP)did in the past that worked! If there are any.

I believe a strong opposition is good for any country. I wish we had that. I did vote for both the UBP and PLP back when we each had two votes and Ive also voted PLP two elections ago.

However, if this is te best they can come up with after one week, I am disappointed. Did they not understand the objective here? All I can do is shake my head.

Secondly everyone knows the OBA are making a fair fist of cleaning up the mess made by the other lot.

That’s about it folks. I’ll have a beer please.

Back to the point, if Mr. Burt’s response is so good, why does he not back his notions with actual numbers, one’s that aren’t past statistics. He promises so many great inovative notions, with provisions for cost, but at the same time provides no numbers for costs to implement, but promises to still decrease spending, while implementing policies that will put more pressure on the private sector that would lead to more business closures, more loss to tax revenues. And more disturbing, he still seems to have an issue calculating profit at the airport… how can somewhere that at last figures only generates around $1m in profit, suddenly generate $11m in profit with a $15 departure tax increase?? We will not lose $1b in profit if the airport is managed by a foreign company, because revenue is not profit… how can someone continually call someone that is supposed to be the finance minister in waiting, brilliant, when they continually fail to produce an accurate profit number through the simple process of removing expenditure from revenue?? But one misrepresented figure in Mr. Burt’s response.

EVERYTHING !

That is if you want to put food on the table.

Our visitors just want to come on a vacation to have FUN and a good time.

Va.ca.tion.

A noun

1) an extended period of recreation.
2) The action of leaving some thing one previously occupied. WORK !

One could say he’s halfway to plagiarism. Cutting without the pasting.

Good ideas are still good no matter from where they come.

However, the only people to drive the economy forward are the OBA and we all need to unreservedly support them until the next election at least.

Well done Burt. Keep working on behalf of Bermuda. Burt is admired by many.

Now ignore the paid bloggers of the OBA….
Expect their comments. But I hope they will examine the ideas you have brought forward in an attempt to grow our Revenue streams and Ecomony.

Well done again Burt.

Between 2004 and 2013 the PLP increased Government revenue from $706m to $867m which is a 23% increase. Over the same time period the PLP increased Government expenditure from $721m to $1.275b, which is a 77% rise. So in the space of ten years the PLP successfully tripled our expenditures when compared to revenue increases, which in turn increased our national budget deficit from $15m to $408m, which is a 2,620% jump. But, of course, the PLP doesn’t have any role in our current financial quagmire. So the OBA came into power with an inherited $408M deficit, which cannot be resolved overnight as the actions required would simply have brought the economy to a complete halt. Hence the “glide path” put forward by the SAGE Commission and adopted by the OBA.
In order for our massive deficit to be closed as of now, it would require the OBA to raise an additional 47 per cent of revenues on top of the $867m recorded as at March 31, 2013. Do you revenue raising/anti-cut advocates think that the OBA, or any Party, can magically raise this out of thin air in the middle of a recession? Let me put it in perspective for you. Between 1999 (the PLP’s first budget) revenues were $546m while at their last budget (2013), as noted, the revenue was $867m.
So over their 14-year period of governance the PLP were only able to raise revenues by $321m or 59 per cent or $23M per year. But somehow some people think the OBA can magically increase revenues by approximately 50 per cent after two years of being in power?