2024 Household Income & Expenditure Survey
The Department of Statistics advised “that the 2024 Household Income and Expenditure Survey [HIES] data collection will commence on January 2, 2024.”
A Government spokesperson said, “This island-wide survey is of critical importance to Bermuda as it collects information on all types of expenditures by Bermuda’s consumers, including food, housing, clothing, and transportation, which comprise some of the main groups. Data on the various sources of household income is also obtained. Once completed, information obtained from the survey is used to:
“1. Update the basket of goods and services and household expenditure weights to calculate the Consumer Price Index [CPI] by sector. The CPI is then used for adjusting salaries, insurance premiums, rents, etc.
“2. Obtain income and expenditure patterns of households.
“3. Indicate the living standards of Bermuda’s residents.
“4. Update the consumer expenditure estimates for estimating the Gross Domestic Product for Bermuda.
“5. Support informed decision-making by the Government and the private sector.
“Households randomly selected to complete the survey have been sent letters advising the month of their interview, as data collection will last a year to account for seasonality. Interviewers will be visiting the selected households and will have a letter of authenticity and an ID card identifying themselves as an authorized representative from the Department of Statistics. Households not assigned an interviewer will be provided with a diary and asked to call the Department of Statistics to arrange an interview.
“To help facilitate these interviews, the Department of Statistics seeks additional interviewers and encourages those interested in joining the interview team to email hies@gov.bm for more information.
“The Department of Statistics takes this opportunity to thank the public for their understanding, patience and cooperation throughout this process.”
Yup..going to use info for income tax. Watch out as PLP had talked about it before. Don’t trust them!!
I wonder how many of these people who have been selected for this survey (and are subsequently unable to get out of it) are the same people who avoid the census takers so successfully that they miss it completely. OR they’re the same people who lie about their income or house ownership details so they make themselves look like they fit the narrative that they’re poor .
They’re going to be cornered but is there any way of confirming their information is true ?
If the bring in an income tax, I’m moving away. I make a decent amount but I simply can’t afford to stay here if there are any more increases in the cost of living. It’s ridiculous.
More useless information that will not help the community to survive.
What would be interesting is how much of income already goes to tax?
That tax turbot starts nibbling the moment a local wholesaler orders food or some other product and the Government gets the Foreign Currency Purchase Tax. That turbot nibbles again when those goods hit the dock and Customs takes their bite out of it. At every step from dock to shelf Government takes more nibbles which will all be figured into the price on the shelf. How much of that is to cover payroll taxes and plenty other taxes the business must pay.
All of it, of course, must be past on the the consumers.
Sooo, how much of our working weeks do we spend working for ourselves and how much of our working week do we actually spend working to pay for Government taxes?
I am guessing that we spend something like Monday through sometime Wednesday afternoon working for Government before we start working for ourselves.
Don’t think they use it for anything. Just another make-work project.