Comments on: 2015 Second Quarter Bulletin Of Statistics Report

By: jt

jt — Sun, 11 Oct 2015 10:40:06 +0000

It’s not even close to what we need, but at least they have some idea of how to stay close to budgeted figures.

By: Zevon

Zevon — Sat, 10 Oct 2015 22:36:49 +0000

You must have been beside yourself with grief when the PLP overspent by $400m in a year.

By: Zevon

Zevon — Sat, 10 Oct 2015 22:35:28 +0000

2014 was up over 2013, and 2015 isn’t over yet.

By: Sickofantz

Sickofantz — Sat, 10 Oct 2015 20:29:04 +0000

In the article it says government spending increased largely because of an increase in pensions spending. This is inevitable in an island with an ageing population and less workers paying into the pot.

By: Ryan

Ryan — Sat, 10 Oct 2015 17:16:41 +0000

What serious spending cuts had the OBA made? Obviously, spending this year will track higher than last because furlough days were not renewed. Big mistake not continuing furlough days: it was one of the fairest ways to achieve significant cost cuts in the CS without laying people off.

By: Build a Better Bermuda

Build a Better Bermuda — Sat, 10 Oct 2015 16:05:06 +0000

There are several things to note that could messing the numbers; first, this is only a quarterly report, not the annual budget. Second, as quarter report, this means that various annual budget items like projects might have been set for different times of the year, so there might be an increase in spending this quarter, and a decrease in the next… meaning we won’t know if we are going over budget for the year until closer to the end of the forth quarter, it only reflect that we spent more this quarter in reference to the same quarter last year. Next, despite the great fluff fare that the unions made about annoucing a success in finding cost savings, the government warned everyone that what was proposed would not be garaunteed until applied to real world metrics… no plan survives contact. Time will show where we are this year, but this visit from Joaquin will certainly show a small blimp in expenditure for this quarter as well.

By: Build a Better Bermuda

Build a Better Bermuda — Sat, 10 Oct 2015 15:54:47 +0000

Check the stats timings, the previously recorded arrivals decrease by the BTA that created so much noise, were for the second quarter, as is this report for overall, including those previously mentioned statistics. And like the last report, it also includes an increase in visitor spending.

By: Reality Check

Reality Check — Sat, 10 Oct 2015 15:28:09 +0000

The projected growth in revenue for the year was 6.0% relative to the previous year. If there is a small 2% revenue undershoot for this year, Gov would come up at least $15m short relative to its projected revenue of $931m. H

Spending is trending higher than projected. With a 1% overspend, spending would be about $12m higher than projected.

Put the two together and you end up with an addition to the previously projected $220m deficit. That $220 projected deficit increases by $27m and becomes a much higher deficit of $247m.

That is really bad. Really bad.

By: mixitup

mixitup — Sat, 10 Oct 2015 12:59:01 +0000

So another decrease in visitors recorded.. Great news for Mr. Hanbury! Another bonus on the way!

By: Johnny

Johnny — Sat, 10 Oct 2015 11:24:59 +0000

How can govt. spending increase when we have made so many cuts? How can we cut the deficit if we increase spending?