Comments on: Govt: 2019/20 First Quarter Fiscal Performance https://bernews.com/2019/09/govt-201920-first-quarter-fiscal-performance/ Bermuda's #1 source for 24/7 breaking news, photos & videos Wed, 15 Apr 2026 19:28:23 +0000 hourly 1 http://wordpress.org/?v=3.7.5 By: truthertz https://bernews.com/2019/09/govt-201920-first-quarter-fiscal-performance/#comment-5104615 Tue, 17 Sep 2019 17:19:48 +0000 http://bernews.com/?p=912978#comment-5104615 So basically they squeezed $6mn of taxes from the already stretched public simply to pay $5mn more in public salaries.

Guessing increased taxes will be the norm on annual basis to pay higher civil servant salaries and benefits.

Yeah, that seems sustainable. Good luck with that.

]]> By: Joe Bloggs https://bernews.com/2019/09/govt-201920-first-quarter-fiscal-performance/#comment-5104587 Tue, 17 Sep 2019 16:50:43 +0000 http://bernews.com/?p=912978#comment-5104587 “In general, total revenues are tracking in line with budget estimates and the strength in Payroll Tax, Passenger Tax and Customs Duty receipts increases the chance of meeting the total revenue target of $1,118.5 million for the current fiscal year”

This just days after raising our debt ceiling by $250 million!

]]> By: Ringmaster https://bernews.com/2019/09/govt-201920-first-quarter-fiscal-performance/#comment-5104566 Tue, 17 Sep 2019 16:21:34 +0000 http://bernews.com/?p=912978#comment-5104566 Why is there no mention that in 2018/19 there was a sinking fund contribution of approx $50m but this has been dropped for 2019/20? This means in effect the deficit for 2019/20 is approx $50m more that shown. Similar smoke and mirrors to when Paula Cox dropped the payment into to Government Pension Plan to keep the deficit down. Bermuda is still paying for that folly.

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