Video: BNV Interview With Premier David Burt
Premier David Burt will be joining Bernews at 6.00pm today [Jan 12] for the latest episode in the Bernews News & Views series, with the Premier — who is also the Finance Minister — set to discuss the the 2023 Pre Budget report, with the public invited to provide feedback until January 17th.
The video will be live streamed below, as well as on Bernews YouTube, Twitter, Facebook, and LinkedIn pages.
One of the proposals contained in the Pre-Budget Proposed was changes to the payroll tax structure which “will see all persons earning under $105,000 annually paying less in payroll tax compared to the prior year.”
The report also mentioned the “Elimination of Double Taxation for Self-employed Persons” saying that, “In an effort to avoid double taxation, the Government has been asked to consider removing the requirement for self-employed persons to pay both the employer and employee portion of payroll tax and only be responsible for paying the employee portion.”
The report also proposes a pay increase for Government workers, stating, “The salaries and wages of public sector workers have not kept up with the increases that have been seen in the private sector. Though the aforementioned proposed tax changes will increase take-home pay for all blue-collar workers, it is no longer feasible to maintain the position of no pay increases during the 2023/24 budget cycle due to rising global inflation.
“As a result, the Government has adjusted its financial mandate to award public sector workers a pay increase. These increases will need to be reflected in spending plans and offset by revenue increases or cost decreases to meet the Government’s budget targets and ensure that the budget is balanced in the 2024/25 fiscal year.”
If you wish to provide comments/feedback to the Government, please visit forum.gov.bm or email openbudget@gov.bm, and if you would like to ask the Premier a Pre-Budget related question please leave a comment on the YouTube or Facebook stream while it is live.
The full 2023-24 Pre Budget Report follows below [PDF here]:
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For a Premier supposedly intent on increasing the population and supporting IB, there is zero evidence of it here.
When will he learn that these initiatives in the long term support Bermudians and that they aren’t just ‘taking all our jobs’
Proposals on greater taxation are horribly short sighted and will encourage departures. You don’t need to be a Harvard Lecturer to understand that.