Bill To Reduce Vehicle Licence Fees By 10%
The Government will table legislation in the House of Assembly to reduce vehicle licence fees by a further 10 percent.
Premier & Minister of Finance David Burt said, “Tomorrow in the House of Assembly, the Government will table legislation to reduce vehicle licence fees by a further 10 percent, providing additional relief to motorists across Bermuda.
“When this measure is passed, annual licence fees will have been reduced by 10 percent on top of the 10 percent reduction already delivered since 2018, continuing our record of providing relief where possible. In practical terms, this means that in 2026, families will be paying between $57 [Class A] and $318 [Class H] less per year to licence their vehicles.
“For many Bermudians, a car is not a luxury. It is how parents get their children to and from school, how workers commute to their jobs early in the morning or late at night, and how families manage the everyday responsibilities of life on our island. Reducing these fees is a practical way to help ease the cost pressures that many households continue to face.
“This measure builds on the work outlined in the recent Budget, including the largest payroll tax cut for workers in Bermuda’s history, saving Bermudians up to $840 a year. This reflects the Government’s commitment to ensuring that economic progress translates into real relief for Bermudian families.
“Some have suggested that relief should only be provided to a limited group of people. Our view is different. Every Bermudian who pays vehicle licence fees deserves to benefit when Government can reduce costs. Families across Bermuda are feeling the effects of rising global prices, and broad-based relief ensures that working people in every parish feel the difference.
“Importantly, this reduction is being delivered while the Government continues to manage the country’s finances responsibly, strengthen Bermuda’s economic position, and steadily reduce the national debt.
“This legislation reflects a simple principle: when the country is doing better, Bermudians should benefit too.
“We look forward to presenting the Bill to Parliament tomorrow and continuing the work of building a fairer Bermuda where progress is shared by everyone.”
