Hashtag: #2011Budget
Justice Minister: Full Budget Statement
Attorney General and Justice Minister Michael Scott said ongoing initiatives to modernise Bermuda’s judicial structure as well as a wide range of rehabilitation and treatment programmes would continue despite “prudent” reductions under the 2011/2012 Budget. Speaking at a press conference following the Budget statement [Feb. 18],... Read more of this article
Minister Wilson: Full Budget Statement
This past Friday [Feb 18] Minister of Economy, Trade and Industry Kim Wilson spoke at a press conference following the delivery of the 2011/12 Budget. In the budget, the Ministry of Economy, Trade and Industry has been allocated a current account sum of $23,613,696 and capital funding of $667,000. Their budget consists of allocations for the Department... Read more of this article
Mayor of Hamilton Responds to Budget
The Mayor of Hamilton, Charles Gosling today [Feb 20] responded to the 2011/2012 budget released by the Premier and Minister of Finance Paula Cox on Friday. Mayor Gosling said, “We are currently reviewing the 2011/2012 budget and will meet with our partners to determine its full impact on the City of Hamilton’s operations. Our initial reaction is... Read more of this article
Video: Premier’s Post-Budget Speech
Following the delivery of the 2011/12 Budget by Premier and Finance Minister Paula Cox on Friday, Government Ministers held a post-budget press conference, with them all speaking individually about their portfolios. You can view videos of all Ministers speaking here, and the Premier’s 9 minute speech summarizing the budget below: Related Stories Video:... Read more of this article
Budget: How Will Government Make Money?
In the 2011/12 Budget, the Minister for Finance projects revenue of $940 million. Payroll tax is predicted to be the largest revenue earner, at $350 million, with Customs the second biggest earner for the Government, with $200 million predicted. Payroll tax and customs fees combine to create almost 60% of the Government’s predicted income. Listed,... Read more of this article
Health Budget Down 5% to $172.2 Million
The Ministry of Health received the largest percentage of funding in the 2011/12 Budget, with approximately 15.9% of estimated expenditure going towards the Health Ministry. The budget allocated the Health Ministry a total of $172.2 million in current account funding in this year’s budget, which is a reduction of 5% from last year. Health Minister... Read more of this article
Videos: Minister’s Post Budget Statements
Yesterday following the delivery of the 2011/12 Budget by Premier and Finance Minister Paula Cox, Government Ministers held a post-budget press conference, with them all speaking individually about their portfolios. Links to each Minister’s full video statement are below. Health Minister Zane DeSilva here National Security Minister Lt Col David... Read more of this article
Live Blogging: 2011/12 Budget
This morning [Feb 18] Premier and Minister of Finance Paula Cox will deliver the 2011/12 Budget in the House of Assembly. Speaking yesterday UBP Leader Kim.Swan said: “Virtually everyone in the country is aware that Bermuda is in the grip of its most serious economic challenge in many generations, and that the Government’s spendthrift ways –... Read more of this article
UBP’s Richards On Budget: No Plan, Direction
Shadow Minister of Finance Bob Richards spoke about today’s budget saying “The Budget offered no plan, no direction and very few concrete steps that would give the country hope that recovery was within reach.” Mr Richards said the budget failed to “address soaring public debt, with interest charges set to nearly double to $70... Read more of this article
2011/12 Budget: Business & Tourism
[Updated with video] Minister of Business Development and Tourism Patrice Minors spoke at a post-budget press conference this afternoon [Feb 18] providing details of the financial provisions allocated to her Ministry in the 2011/12 Budget. The Minister said the Bermuda Music Fest will be eliminated as it “was not attracting enough tourists to... Read more of this article
Deloitte Budget Snapshot 2011
Deloitte has released a ‘Budget Snapshot’ for 2011, it follows in full below: Revenue Estimates 2011/2012 Estimate of total revenue $940 million, 4% lower than 2010/2011 revised estimate of $977 million. Expenditure Estimates 2011/2012 Estimate of total expenditures $1.08 billion including $84.2 million of capital expenditures, $70.0 million... Read more of this article
Chamber of Commerce’s Budget Overview
By the Bermuda Chamber of Commerce’s Peter Everson We congratulate the Premier and her Cabinet colleagues for having listened to the Chamber and adopting some of the recommendations that we have made during the past year. The headline change is the reversal of the 2% increase in the rate of payroll tax introduced last year. Unfortunately it has... Read more of this article
