De Couto On Budget Timing, Priorities & More
Funding for healthcare is critical, the stability of Social Insurance and Government worker pensions remains a concern and we are carefully watching Government’s handling of the Corporate Income Tax [CIT], Shadow Finance Minister Dr Douglas De Couto said.
Dr De Couto, who previously served in the Senate and was recently elected as an MP, said, “Normally at this time of year, the political class and close observers would be analysing the annual Budget Debate.
“This is when the Government delivers its taxing and spending plans to the legislature for scrutiny and challenge by the Opposition and is an opportunity for the public to learn more about how the Government will spend the peoples’ money. Usually, this is all wrapped up and approved in time for the start of the Government’s financial year on April 1st.
“In early January when the election was called, there was some concern by the public that the election would delay the budget process. However, Government stated that it did not expect any. However, that promise is out the window with the new, recently announced schedule delaying things by about two months. Meanwhile the Premier has shuffled the deck and the new Ministers are busy moving the deck chairs around.
“The Throne Speech was delivered just two short months before the election, and Government’s preview of the budget, the Pre-Budget report, was delivered only in mid-December. Given that, it’s natural to think those plans were promises of what an ongoing PLP Government would do after the election. But the Premier has thrown that all out the window. Perhaps this was motivated by his Government earning less than half of the popular vote, the first time in Bermuda’s modern political history?
“Speaking of promises, the Premier has pledged a new spirit of outreach and collaboration. So it was a surprise for the MPs in the One Bermuda Alliance to learn first of the new Parliamentary and Budget dates by reading about them in the newspaper. Can the Government do that? Sure. Does it set a good basis for mutual respect? Not so much. Of course, there are many groups in Bermuda that are already familiar with this kind of approach from Premier Burt and the PLP Government.
“Returning to the Budget, although it is now two months away, we look forward to seeing Government’s revised funding plans. As they say, “put your money where your mouth is”.
“The Pre-Budget report pledged to keep all department budgets flat, except for a total increase of about 3% earmarked to increase Government workers’ pay. Given the agreement between Government and the unions the day before the election, we will have to see if the 3% is enough to cover what was promised, which we are still waiting to learn.
“Absentee voting is another long-standing hot topic. The OBA prepared draft legislation and allocated funds for this in the 2016 and 2017 budgets. This was then removed from budgets by the PLP, so we will look to see if Government actually backs its election-time pledges on this.
“Obviously funding for healthcare is critical, particularly for the hospital. My colleague Robin Tucker recently shared our thoughts on that, and we hope to see adequate funding returned to the hospital.
“For people working today, the stability of Social Insurance and Government worker pensions remains a concern. The OBA pledged to reform these pensions so they can be relied upon by future retirees, and we are anxious to see what Government plans to do. We need the 2023 Pensions Actuarial reports to better understand the true state of the pensions [our guess: not very good], and are advised by Government we can expect to see these by the end of March.
“And last but not least, we are carefully watching Government’s handling of the Corporate Income Tax [CIT]. For example, how will the OECD view our approach, will we be penalized, and will business get the benefits they are looking for so Bermuda remains attractive? These are the sorts of things we will be paying attention to, among many others, in the upcoming Throne Speech and Budget.
“Whatever happens, you should rest assured that the One Bermuda Alliance will continue to advocate for all Bermudians, and getting the best outcomes for our country.”
“we are carefully watching Government’s handling of the Corporate Income Tax [CIT]”
Why? Do you really expect Bermuda to receive any?
Any money received will go into the same fund as the Sugar Tax. Besides, that CIT money is already spent in the minds of the PLP.
Minister, don’t you enjoy Netflix or Hulu
Take a break from the constant complaining invite Joe Bloggs around for a gripping session and get it over with.
It seems all the 2 of you are good for is a slugging. Be a part of the solutions NOT the problems
Lion Paw, I have no political agenda. I try to correct misinformation and outright lies, but I am not promoting any political agenda.
I am going to tell you what i am thinking be it good bad or indiferent no more walking on eg shell and broken glass.
I want no less than a better Bermuda for all.
The 2025 election is now over time to get to work as many found the results woul be to be some what disappointing far too many chose self disenfranchisement . The results to say the least, counting the number of successful candidates based on the poor electoral turn out sends a clear message to every body .
The private sector expect the employees to perform or see the other side of the back door.
We expect the same and no less from all the elected candidates .
Either this country buckle down or bucks up with less lip service or face total failure.
Bermuda is a business the Government are the apointed directors if that business .
I am going to ask for the second time now long over due a comprehensive ” accountability act” be brought to the table as we vote also for transparency as a base for all desisions sooner not later .
we can not blaming the peopl for not tristing its government we pay the preach .
Just imagine the out come if a Bank ran its business with out proper policy that way by having its dorectors junping through the hoops .
We could say that all the seat were filled that was going to happen regardles, now what ?
is the well dryng up is Bermuda surving of a post war footing in 2025 that is pure. madness .
I was hired in my last job on account of my knowledge and experiance of the job and by my ability to perform the function for the governments requirement it is called business ethic .The GM was not about to ley me out of the room .
all my life i was expected to perform i have right to expect performnce in return as 20% of my income goes in taxes .
When i retired I told my self that I would never accept any further abuse .
Poliyition are not leaders walking down the yellow brick road you are politicians climbing Mount Everest .
Did the voting public have no choice s the respective parties made that choice for you.
who do you blame?
The voter has had 5 years to bring their choice of candidate forward that apparently did not happen.
This time you were given two options, take it or leave it !
Many people could not be bothered not realizing your vote was for your future was the the past water gone under the bridge not realy as Bermuda did very well jus look around you who do you think brought our off shore companies here .
2025 election sent the independant candidates packing simply because of the thought that the independent thinking the electorate could not put their trust in that concept and the assemble would go in to total confusion.
let me ask the question for what reason did the candidates throw their hats the ring?
Was it fame and fortune or the quest for noreriety or that of a high paying easy ticket job?
This election brought no virtualy no viable issue on the table.
in a previous post i mentioned income.
I doubt if many candidates were actually aware of what they were getting into.
When a party selects a candidate no body question their decision by asking the question what does that person have to offer
the voter made their selection in some cases vote for an unknown.
You do not give your check book to a stranger .
Now ask the question why the decision result in complete and total apathy was itvthat they were were goung to get a pre planned labor govermment any way coming back in to power with domestic policies regard
The electorate endorses back some remaining old soldiers and talent from the medical profession.
Most of the candidates did not take the time to canvas their districts , that was all done through brief media comment no saying too much t keeping public in the dark .
That is and was not the sightest bit fair for any body !
“Bermuda is a business the Government are the apointed directors if that business”
That sounds reminiscent of Premier Dr. David Saul and Bermuda Inc.