Comments on: Associations Support Budget & Corporate Tax

By: Hilarious!

Hilarious! — Mon, 26 Feb 2024 17:18:24 +0000

It is perfectly clear to any thinking person that the preponderance of Corporate Income Tax [CIT] revenue collected will go to government salaries, perks, off-island fact-finding trips, and irrelevant conferences. The average Bermudian will see a tiny percentage of the revenue.

Roads and infrastructure will continue to crumble because Government has no plans. Government’s insane move to electric vehicles has no plan to replace lost fuel tax revenue. NO PLAN to replace the lost fuel taxes.

Using 140 miles of paved public roads, estimating 50% of main/major roads is 70 miles. Using $750,000 to $1,000,000 per mile today comes out as $52.5 to $70 MILLION! With inflation, when electric vehicles are mandated your children, grandchildren, and your grandchildren’s children will be sending their paychecks directly to Government.

At what point in time will the Government decide to install steel guardrails? We already know that wooden guardrails cannot handle a gas-powered car. Why would even a government bureaucrat expect wood to stop a heavier EV? Add say another $4 TO $5 million for steel guardrails. EV batteries and salt water do not mix well so let’s get those steel guardrails in place as soon as possible.

By: Mr Know It All

Mr Know It All — Mon, 26 Feb 2024 16:47:07 +0000

Wow… you just can’t give credit where it is due can you? LOL. You literally have all IB saying we are happy full of praise and you still cry foul. Its funny you quote the upkeep of the Governors house. Maybe because those funds are better used for the people of Bermuda rather an a UK appointed overseer!?

By: Joe Bloggs

Joe Bloggs — Mon, 26 Feb 2024 12:59:38 +0000

Both the Governor and the Deputy Governor have had to leave their official residences because the PLP Government failed to maintain those historically significant buildings.

By: Ringmaster

Ringmaster — Mon, 26 Feb 2024 00:05:19 +0000

So alarming that these entities praise a balanced budget, when it is announced that the Governor has to leave Government House because it uninhabitable. Clearly no funds set aside to perform repairs and basic maintenance. “Balanced budget” will be a real embarrassment to Burt and rightly so. Unfortunately it will also negatively impact Bermuda.
As to the CIT, this should be very interesting as clearly companies know what is the impact and are booking deferred tax credits already. Payroll tax exemption pitted against unknown profits. Almost certainly a win for IB, but not a good position for Bermuda to be in, but then Burt is out of his depth.