Video: Bernews Pre-Budget Panel Discussion
[Updated with video] Bernews will be hosting a ‘Pre-Budget Panel Discussion at around noon today [Feb 19] with economist Craig Simmons, Age Concern Director Dr Claudette Fleming, and President of the Chamber of Commerce John Wight set to discuss the upcoming 2019/20 budget, which is due to be delivered this Friday.
The trio will be discussing the budget and economy in general with journalist Don Burgess, and we will update this article with the live video at around noon today. We would like to extend our thanks to ‘The House’, a co-working space in Hamilton, where the filming is taking place!
Update: The live broadcast has concluded and the 61-minute replay is below
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Ok so land owners are gonna get hit hardest, I can understand that given how reliable it is. As was stated, you can move a lot of things around but land isn’t one of them. And even if it changes ownership, that doesn’t affect the taxes coming in.
2.5bn debt…. Without playing the blane game, it’s here now and clearly the govt is introducing and/or increasing a boat load of taxes to help pay it down. This is in no way a shocking course of action, but:
1) In being sensitive to residents’ current position of financial duress, do all of these tax changes have to come all at once???
2) As Dr. Fleming mentions, to offset the sour taste of taxes and to maintain public confidence the implementation of taxes should be accompanied by a quantitative indication of where the tax revenues will be going. At least this way, the taxpayers can hold the govt accountable.
3) From accountability to responsibility…these taxes would be easier to stomach if it were evidenced that the govt was implementing measures to curb its spending. That too is an obvious way to pay down our massive debt, but there have been no signs that this is happening, or will happen anytime soon if current behavior is any indication.
Well said
There is no need for new taxes. The economy is doing great right now.
The economy is expanding by leaps and bounds, according to Walton Brown last week. The government is already raking in tax dollars, and there is more to come as the economy expands, according to what Walton Brown said last week.
The Government should reduce it spend First. Once the Government has done this then the public might be more understanding to tax increases. They can not keep on spending and increasing taxes not fair.
Nothing mentioned about cutting the civil service. Social has worked so well everywhere else like Venezuela.
Craig Simons, for as educated as he is, is in la la land. People invest when they feel wanted and believe in the political leadership. Could this be a reason why there is a lack of local investment?
Bernews: Thank you for the interview. Interesting and pragmatic commentary from the panelists.
Craig Simons rightly identifies public enemy number one as the debt. He also very rightly highlights Bermudian repatriation and immigration reform must go hand in hand and be addressed urgently.
The real Bermuda problem is sentiment. Until the PLP and OBA work together and address the drivers of this negative sentiment it will be status quo.