Hashtag: #2015Budget
Mergers “Likely To Give Rise To Redundancies”
The “merger mania” we have witnessed in Bermuda’s re/insurance business in the past year is “likely to give rise to redundancies,” Finance Minister Bob Richards said as he delivered the 2015/16 Budget in the House of Assembly on Friday [Feb 20]. In recent months, XL Group confirmed it will acquire Catlin Group, RenaissanceRe... Read more of this article
‘Cannot Guarantee Reductions Without Layoffs’
“We cannot guarantee that the planned reduction in spending can be achieved without layoffs of workers in the public sector for the coming fiscal year,” Finance Minister Bob Richards said during the 2015 Budget speech in the House of Assembly today [Feb 20]. Minister Richards said, “Personnel costs are crippling the Bermuda Government’s... Read more of this article
Finance Minister: $930 Million To Be “Injected”
The projects approved by the Government in “which there is high confidence of shovels in the ground” combine to make a total of $930 million to be “injected over the next one to three years,” Finance Minister Bob Richards said during today’s [Feb 20] Budget statement. The Minister listed those projects as St. Regis-St.... Read more of this article
PwC Bermuda Release 2015 Budget Infographic
PwC Bermuda has released a Budget Highlight sheet, breaking down the major points of the 2015/2016 budget and providing a general summary, along with a focus on revenue, debt, growth, and expenditure. Tom Miller, Managing Director of PwC, said, “The Minister made his case for the threat to our financial independence, as deficits swell our national... Read more of this article
Deloitte Bermuda Release Budget Infographic
Deloitte Bermuda has released their 2015 Budget Highlights infographic, that breaks down the major points of this year’s Bermuda Government Budget in an easy to read format. You can view all our coverage of the 2015/16 Budget here and our live blog covering the 2015/16 Budget and reactions here. The Deloitte Bermuda 2015 Budget Infographic is below,... Read more of this article
Budget Report: Tax Increases, Deficit & More
[Written by Don Burgess] Tax increases are on the way at the pump, at the airport and in your paycheque as just three ways Government is seeking more money for the 2015-16 Budget. Finance Minister Bob Richards said “in order to reduce the deficit, the Government considers it appropriate now to strengthen the tax base.” Increases can be expected... Read more of this article
Opposition’s Initial Response To 2015/16 Budget
Following the delivery of the 2015/16 Budget by Finance Minister Bob Richards this morning [Feb 20], both Opposition Leader Marc Bean and Shadow Finance Minister David Burt provided initial responses, with the PLP’s full Reply to the Budget set to be delivered next week. Shadow Finance Minister David Burt said, “In his third Budget Statement... Read more of this article
Charts Only: 2015-2016 Bermuda Budget
For those seeking a quick visual view of the 2015 Budget delivered in the House of Assembly by Finance Minister Bob Richards this morning [Feb 20], the charts extracted from the Budget are below. For comparison’s sake, charts from the 2014 Budget are here, charts from the 2013 Budget are here, charts from 2012 Budget are here, charts from the... Read more of this article
Full Document & Highlights: 2015/2016 Budget
This morning [Feb 20], Finance Minister Bob Richards delivered the 2015/16 Budget in the House of Assembly, detailing the Government’s financial plans for the coming year. You can view our live blog of today’s events here, and the full budget statement below. Some of the budget highlights include: As of March 31 2015, gross public debt will stand... Read more of this article
Live Updates: Finance Minister Delivers Budget
[Updated] Finance Minister Bob Richards is set to deliver the 2015 Budget in the House of Assembly this morning [Feb 20], which will set out the Government’s financial plans for the upcoming fiscal year. This will be the third budget devised by Minister Richards since the OBA’s victory at the polls in 2012, following after the 2013/14 Budget... Read more of this article
