Video: Premier David Burt’s Pre-Budget Message
This Friday “I will be delivering a budget that will continue to reduce taxes for workers and businesses in Bermuda, increase investments in vital reforms and critical infrastructure while keeping Bermuda firmly on the path towards a balanced budget in 2024,” Premier David Burt.
The Premier, who is also the Minister of Finance, said, “As the Government prepares to present the budget for the upcoming fiscal year, we remain focused on the mandate we were elected to deliver in 2017 and 2020.
“Not only did we promise a fairer and better Bermuda, but we also understood that in the wake of a once-in-a-lifetime pandemic, it would take strong leadership to see us through.
“That same strong leadership is needed again as we battle the highest global inflation in 40 years.
“The 2023/24 budget will be about building our economy and making bold decisions to ensure we continue our economic recovery.
“Our economy has experienced 5 consecutive quarters of GDP growth, our credit ratings remain stable, and our budget deficit continues to fall. Tourism numbers are increasing, employment figures are improving with more Bermudians working, and a recent survey reported 2/3rd of local businesses expressing confidence in their economic future, with many planning on creating additional jobs.
“While we are proud of what we have accomplished amid these unprecedented times, your government understands that there is still much more work to be done.
“We hear the concerns of our seniors impacted by food inflation, families challenged by rising interest rates, and young people challenged with finding quality affordable housing. We understand the challenges facing entrepreneurs, artists, and athletes striving to make their mark locally and internationally. Therefore we must remain disciplined and commit ourselves to working together to ensure that Bermuda’s economy works for all.
“This Friday, February 17th, 2023, on behalf of the Government of Bermuda, I will be delivering a budget that will continue to reduce taxes for workers and businesses in Bermuda, increase investments in vital reforms and critical infrastructure while keeping Bermuda firmly on the path towards a balanced budget in 2024.
“This year’s budget will reflect the thoughts and feedback of Bermuda’s residents, businesses and trade unions – following a broad public consultation which was done to ensure that this budget delivers what all of our people need to grow and succeed.
“This Government was not elected to maintain the status quo but to make systemic change. The transition from a once in a century pandemic has not been easy – however I assure the people of Bermuda that our commitment to economic recovery and balanced economic growth is unwavering, our focus on fiscal prudence is steadfast, and our vision for the future remains positive.
“I look forward to sharing that vision for the future with you on Friday and in the weeks following the presentation of the budget.”
The Budget will be broadcast across the Government media and Bernews will also broadcast the Budget live and provide live updates this Friday [Feb 17].
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Optimistic and looking forward to the budget tomorrow!
15 years of ongoing deficits and 4Bn in debt and you’re optimistic ?
Good luck with your ‘hopes’ .
Only 15 years? Not 20 years?
Optimistic about what?
He has no more money to give away and expenditure is out of control.
Most alarming is that with him being Premier and Min of Finance there are none of the usual, and essential, checks and balances in place. It’s his way or the highway, as Curtis found out last year. None of the other PLP MPs are going to rock the boat and risk losing their lucrative packages. It’s not as if he is a genius financial guy.
“He has no more money to give away …”
The PLP Government can always borrow more money to give away.
And don’t worry FOF your going to be ok too.
““I will be delivering a budget that will continue to reduce taxes for workers and businesses in Bermuda, increase investments in vital reforms and critical infrastructure while keeping Bermuda firmly on the path towards a balanced budget in 2024,” Premier David Burt.”
I am intrigued to see how the PLP Government can reduce taxes, increase spending (“investment”) and still be “firmly on the path towards a balanced budget in 2024″
No chance. He has increased salaries in the CS (more money for all Departments except Home Affairs) and increasing staffing. After all an election is coming and the voter base needs increasing.
He’s shuffling deckchairs even after we’ve hit the iceberg.
What this idiot fails to acknowledge, or deliberately ignores, is that he’s just shuffling the same money around. The maths don’t add up, we are in a demographic crisis as has been discussed endlessly for years, and no amount of tinkering will help.
He’s either very stupid or deliberately malevolent.
Notice that he still managed to whine about Morgan’s Point and The Airport. Those lies never get old.
West Group planned for Morgan’s Point Phase 1 to be complete by the Spring of 2001. In the meeting in early 2000, the developer sat opposite Eugene Cox, Paula Cox, DREB, David Allen and Terry Lister. Arthur Hodgson arrived late. Financing was in place. Unrealistic PLP demands killed the project.
It’s a mtter of public record, go read up on it. PLP failure almost from Day 1 when they were drunk on power, sipping Krystal and telling everyone it “was their turn now”. Idiots.