Hashtag: #2012Budget
Thomson: “Sad Day For Consumer”
Mailboxes Unlimited president Steve Thomson said it is a “sad day for the consumer in Bermuda,” following the news in the 2012/13 Budget that duty at all ports of entry will be 25%. Noting it represents close to a 400% increase on duty on clothing, Mr Thomson questioned whether local clothing retailers were “negotiating the increase... Read more of this article
ABIC’s Reaction To 2012/13 Budget
The Association of Bermuda International Companies [ABIC] said on Friday [Feb.24] its members support Government’s Budget commitment to targeting a reduction in deficit and debt levels over the medium to long term. ABIC said it is pleased to see that payroll taxes and their corresponding thresholds will be maintained at last year’s levels with... Read more of this article
‘Borrowing Is Short-Term Stop-Gap’
Former Premier and businessman Sir John Swan and political commentator Larry Burchall released a reply to the 2012/13 Budget released yesterday [Feb.24] by Premier and Finance Minister Paula Cox. “Government is planning to spend $1,081,700,000 while projecting revenue of $909,634,000. That leaves a shortfall of $172,100,000,” said the statement. “Borrowing... Read more of this article
Video: Education Minister On Budget
Minister of Education Dame Jennifer Smith said her Ministry’s allocation for the forthcoming fiscal year is $133,989,000, an increase of 5% over last year’s Budget. “I believe that all Members of the House, as well as the general public, understand that money spent on education is an investment in this country’s social well-being,”... Read more of this article
Video: Minister On Space & Sea Assets
[Updated with video] Bermuda space and seabed assets could be used to raise revenue Minister of Government Estates and Information Services Michael Scott said today [Feb.24] at the post-budget press conference. “The country assets are vast and varied, when I was Minister of Telecommunications you will know of the potential connected with the exploitation... Read more of this article
Video: Minister Minors On Job Creation
[Updated with video] Government’s job placement and retraining efforts are being tailored to meet the needs of both those seeking work and employers, Minister of Economy, Trade and Industry Patrice Minors said today [Feb.24]. Speaking at a Government press conference following the release of the Budget statement, Ms Minors said her Ministry would... Read more of this article
Video: Works Minister On New Initiatives
[Updated with video] Public Works Minister Michael Weeks announced a raft of new initiatives this afternoon [Feb.24] at a Government press conference held following the release of the Budget Statement. Among other projects, he said in the coming fiscal year the Ministry will tackle upgrades at the Tynes Bay municipal incinerator, the North Shore reverse... Read more of this article
Video: Bean On Budget, Fishing, Tech
[Updated with video] Minister Marc Bean spoke at the post-budget press conference this afternoon [Feb.24] about the upcoming plans for the Ministry of Environment, Planning and Infrastructure Strategy. The Ministry’s budget for the upcoming year is $15,745,000, an increase of $1.5 million or 11% when compared to 2011-2012. Minister Bean said the... Read more of this article
Live Blog/Webcast: 2012/13 Budget
[Updated] This morning [Feb.24] Premier and Minister of Finance Paula Cox will deliver the 2012 Budget in the House of Assembly. She is expected to leave the Cabinet Office at approximately 9.30am, and make her way to the House where she will deliver the Budget – setting out Government’s financial goals and expectations for the following... Read more of this article
Chamber: ‘Business As Usual Budget’
Government is spending far more than taxpayers can afford to pay, the Bermuda Chamber of Commerce Economics Advisory Committee said today [Feb.24] following the release of the 2012/13 Budget. Speaking on behalf of The Chamber, economist Peter Everson noted; “There were no unexpected surprises in this year’s budget, and as many suspected, it was... Read more of this article
Richards ‘Very Disappointed’ In Budget
[Updated] Shadow Minister of Finance Bob Richards and Opposition Leader Craig Cannonier spoke about today’s [Feb.24] budget saying it seemed like more of a “story” then dealing with reality. Mr Richards said, “The Budget did not have a great deal of substance I am afraid. We have very critical issues facing Bermuda, involving how... Read more of this article
2012/13 Budget At A Glance
[Updated] If you don’t have time to sift through the full 30-page 2012 Budget, some of the key points are below: Expected expenditures of $1.08 billion, with an estimated revenue of $909.6 million. A “National Security Council” is being formed to help combat crime The arrivals area at the Airport will have a ‘channel’ system, with... Read more of this article
