Hashtag: #2012Budget
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
Video: UBP’s Kim Swan On Budget
[Updated] Speaking this morning [Feb.24] after the Premier delivered the 2012/13 Budget, United Bermuda Party Interim Leader Kim Swan said it “was more of a rhetorical presentation” as it had a lot of “well sounding words”. Mr Swan said he will be examining the Budget to see if there has been any “belt tightening”,... Read more of this article
Deloitte 2012 ‘Budget Snapshot’
Following the delivery of the 2012 Budget by Premier and Finance Minister Paula Cox this morning [Feb.24], Deloitte released a ‘Budget Snapshot’, which follows in full below, and is available here in PDF form. The ‘Snapshot’ says “Build One Another Further Debt Increases”, and included the graph below Budget Deficit Revised... Read more of this article
Airport Duty Rate Returns To 25%
In her Budget Statement this morning [Feb. 24], Premier and Finance Minister Paula Cox announced she would be rolling back the 10 percent hike in duty introduced at the end of last year. In a bid to stimulate the island’s stagnant economy, in November the Premier [pictured] formally introduced measures in Parliament increasing the rate of duty payable... Read more of this article
Full Statement: 2012/13 Budget
The full statement detailing the 2012/13 Budget which was delivered this morning [Feb.24] by Premier and Minister of Finance Paula Cox in the House of Assembly is below and here in PDF form. Highlights include airport duty going back down to 25%, Government removing the stamp duty on transferring mortgages from one bank to another and much more. Click... Read more of this article
Changes To Senior’s Car/Land Tax
Seniors with the largest class of car and with homes valued at over $1 million will now have to pay tax on them, Premier and Minister of Finance Paula Cox said in her Budget speech this morning [Feb.24]. The Premier said, “The yield from land tax will be improved in 2012–2013 by adjusting the ARV threshold that provides an exemption for seniors... Read more of this article
2012 Bermuda Budget In Charts
This morning [Feb.24] Premier and Minister of Finance Paula Cox delivered the 2012 Budget in the House of Assembly. The charts show an estimated revenue of $909.6 million, and the estimated expenditure is $1,081.7 million. You can read the full 2012 Budget here, or view charts extracted from the budget report below: For comparison’s sake,... Read more of this article
Video: $500,000 Allocated For CCTV
[Updated with video] $500,000 has been allocated for extended CCTV networking, Minister of National Security Wayne Perinchief said at the Post-Budget press conference this afternoon [Feb.24] “CCTV has played such an important role is securing convictions for offences committed in our communities that this initiative must be supported,” said... Read more of this article
Richards Expecting ‘Election Budget’
In advance of tomorrow’s budget, Shadow Finance Minister Bob Richards questioned whether the budget “will address key factors, or will it be an election budget.” “My guess is that it is going to be an election budget,” said Mr Richards. “Because if there is anything we have learned about this PLP Government, is that... Read more of this article
