Video: Premier Burt On 2023/24 Budget
Premier David Burt will be holding a press conference at 3.00pm this afternoon [Feb 20] to discuss the 2023/24 Budget. The live video should start at around 3.00pm, and in the meantime, you can view all our coverage of the 2023 Budget here.
Update: The live broadcast has concluded and the replay is below
Well said Arthur Wightman! At last a senior business leader has been brave enough to call out Burt on our debt.
12% of all Govt money is wasted servicing PLP debt, $7bn total, $250,000 per working Bermudian. Let that sink in.
Still think Burt has done a good job? We are screwed for generations to come.
It aligns with the stated objective of the Progressive Labour Party. Bermuda for Bermudians. Get rid of those d***ed foreigners!
No idea what he said as I don’t want to waste my life, but unless he has taken in and understood what was said this morning by IB etc, he will be remembered as the person who destroyed Bermuda. What a legacy, and so sad for what was once a jewel and example of the best.
Well you’re wasting your life on here everyday blogging instead of putting more time with the OBA looking for more surrogates.
Yeah, because that’s the real problem. Tell me, can you read without moving your lips?
Did the OBA destroy IB?
Are you showing us that you have the reading comprehension of a potato?
Apparently Burt insulted ABIR. What Chris Schaper said this morning was on behalf of ABIR, not a personal opinion. Not a good thing for Dictator Burt to do.
The gig is up Dave.
$7bn in debt and liabilities and IB looking for the door. The man who destroyed Bermuda.
- SP won’t happen, can’t happen. Money is too expensive and no one in their right mind will invest in a hotel in Bermuda.
- Gaming is dead. The PLP government is too close to the BGC
- Morgan’s Point. Won’t happen due to PLP arrogance, incompetence and stupidity. Never mind the lack of financing. Don’t forget, there could have been a resort there in 2001.
- Medical Tourism. This only works if there’s something you can’t get in your home territory and/or it’s cheaper to go overseas. Bermuda fails on both counts.
- Meddling with the BTA after the Americas Cup and installing cronies. That went well didn’t it.
- Failure to capitalise on the Americas Cup
- Buses, Ferries don’t run, and garbage isn’t collected.
- No mention of cost savings of efficiency in the civil service.
- Vertical farming…LOL…give me a break.
….and the absurdity of the TA…
And yet he still managed to have a go at the OBA, he’s always in election mode, but no one is falling for it.
Given the revelations yesterday by Mr Wightman, I don’t see how Burt can do anything other than resign. It’s clear he has driven the economy over a cliff. He has no coherent ideas how to manage through this. His policies and ‘ideas’ don’t stand up to the most basic scrutiny.
Agree. He sat there yesterday morning with the biggest chip on his shoulder and FAILED miserably at answering any of the intelligent questions posed to him. In his trademark arrogant, d-bag manner, all he could do was imply “trust us, we’ve got this.” Newsflash: no one trusts you.
I’m not saying he needs to kiss any boots but here is a guy in front of a room of industry leaders who make decisions that keep food on our tables. Why p*ss them off? Why give them attitude? WE NEED THEM more than they need us! A little appreciation and less “little man syndrome” would have been better. I mean for God’s sake, he could learn something from these people. Instead he chose to be a DB.
How Burt can get up and shoot this garbage leaves me totally despondent and filled with hopelessness. The OBA is always the basis of all our ills.
To start with , where is the $800,000,000 that no auditor general has still been able to find since 2011, when Larry Dennis was the AG.
The airport contract was supported by every financial body and the UK, including the California Co. (Dean & Co) that Burt engaged. Everyone except Burt said it was a great deal and “Fair Value For Money”. What qualification does Burt have to give a credible option better than that of KPMG and the other accounting firm. I might add that Burt has also engaged KPMG since. Why would it be necessary to issue an RFP when the PLP has gone down the path to find a company to build a new airport and could only come up with a cost of $500,000,000 which we would have to finance?
Why did the financial backers cut and run immediately on the re-election of the PLP. I believe that they have little to no confidence in the PLP.
The OBA did increase the debt. However this was done not to spend but because the interest rate was so low it made economic sense. However, the problems Bob Richards and the OBA faced with when it came to office were grossly over the top. We were and are still screwed.
IMO the biggest mistake the OBA did was not to cut the Government budget by at least 25% in year 1. Now it will be cut, like Barbados, by 50% when the IMF or UK get involved in the next 2 years. There’s no other way. Talk that Bermuda needs 10,000 more workers is crazy. In what jobs and where will they live? Tents in the national parks?
If Bob Richards is to be believed, the OBA could not cut the budget. It had to borrow in order to meet the interest payment due shortly after the OBA came to power.
In Bob Richards’ first budget statement he informed the House that we had all been misled by the previous PLP Government and that our financial position was much worse than we had been told.
If a government has to borrow money to pay interest on borrowed money it is in deep trouble. In business the borrower would be bankrupt.