Hashtag: #BermudaBudget
$400,000 For Solar Panels On Govt Buildings
In this year’s Budget, “$400,000 will be spent to complete the installation of solar panels on several government buildings,” the Minister of Public Works Lt/Col David Burch said. The Government tweeted the graphic below, saying, “Capital funding will be allocated to installation of solar panels on several government buildings,... Read more of this article
$1M For CCTV, $3M Equipment, $1M Works
The Ministry has set aside over $1 million for CCTV upgrades for the Police and Corrections, some $3 million for new equipment including vehicles for the Police, Corrections and Fire Service, and just over $1 million for capital development works, including at the prisons and an East End Coast Guard Station, Minister of National Security Michael... Read more of this article
Video: Premier Burt On 2023/24 Budget
Premier David Burt will be holding a press conference at 3.00pm this afternoon [Feb 20] to discuss the 2023/24 Budget. The live video should start at around 3.00pm, and in the meantime, you can view all our coverage of the 2023 Budget here. Update: The live broadcast has concluded and the replay is below Related Stories Cole Simons On Pre-Budget,... Read more of this article
Chart: Savings In Payroll Tax For Employees
People making $132,000 or less per year “will pay less in payroll taxes” and small businesses will see “their payroll tax liability decline by as much as 43%,” Premier and Minister of Finance David Burt said as he outlined changes to payroll tax set to take effect in the 2023 Budget. “Small businesses, the lifeblood of... Read more of this article
Expand ‘Approved Residential Scheme’ To City
Noting that we must ensure that there is more housing given the “need to grow our working population,” Premier David Burt said the “Government will advance a bill that will amend the Economic Development Act to expand the eligibility for Approved Residential Schemes from solely the Economic Empowerment Zones to the entire City of Hamilton.” The... Read more of this article
Govt’s Mortgage Programme To Enter Phase 2
Starting on April 1st 2023, the Government will be transitioning into phase 2 of the Mortgage Guarantee Programme “where public officers with mortgages at other institutions will be eligible to transfer them over and participate in the programme,” Premier David Burt said, adding that they will also “be removing the age restriction... Read more of this article
Fairmont Hotel Completion Target Of 2024
“Confidence remains high that construction will begin in the 2nd quarter of this year” and “2024 completion remains the target,’ Premier David Burt said in relation to the Fairmont Southampton hotel. The hotel closed back in 2020, with hundreds of jobs made redundant, with the owners saying it will “undergo a complete upgrade... Read more of this article
Premier Burt: Gaming ‘Law Must Be Amended’
“Almost nine years after the previous administration passed the Gaming Act, Bermuda does not have a casino,” Premier David Burt said, adding that “the law must be amended.” In delivering the 2023 Budget, the Premier — who is also the Minister of Finance — said, “Amendments made since that time have not been... Read more of this article
Chamber Of Commerce Response To Budget
The Bermuda Chamber of Commerce released a response to the 2023 Budget, saying that “while we expect there is much relief in the local business community with respect to the budget, the island’s large debt burden continues to be the Damocles sword that hangs over the economy.” A spokesperson said, “The Bermuda Chamber of Commerce commends... Read more of this article
Fee Increases: Court Fees, Top Land Tax & More
The Government “will not be implementing an across the board increase in fees that would impact all government services” Premier David Burt said, adding that there will, however “be adjustments to fees to support the Government’s necessary infrastructure investment” and the some fees will increase by 5% including, but not limited... Read more of this article
Premier Announces Changes To Payroll Tax
“Moving to the employee payroll tax, the headline is this: any individual making $132,000 or less per year will pay less in payroll taxes next year,” Premier and Minister of Finance David Burt said. In delivering the 2023 Budget today, the Premier said, “The payroll tax changes in this Budget that I am about to announce come as a result... Read more of this article
Photos: Budget Delivered In House of Assembly
Premier and Minister of Finance David Burt delivered the 2023 Budget in the House of Assembly this morning [Feb 17], which sets out the Government’s financial plans for the upcoming fiscal year. For all our coverage of the 2023 Bermuda Budget click here and for ongoing live updates click here. Related Stories Cole Simons On Pre-Budget,... Read more of this article
Deloitte Release 2023/24 ‘Budget Snapshot’
Following the delivery of the 2023 Budget by Premier David Burt this morning [Feb 17] in the House of Assembly, Deloitte released a ‘Budget Snapshot’, which highlights some of the key points from the Budget Speech in an easy to read format. You can click here to view our live blog, and click here to view all our coverage of the 2023 Budget. The... Read more of this article
Video: Opposition Leader Press Conference
[Updated] Opposition Leader Cole Simons is holding a press conference this afternoon [Feb 17] to provide his initial reaction to the 2023/24 Budget, which was delivered in the House of Assembly today. The live video is below and for all our coverage of the 2023 Bermuda Budget click here and for ongoing live updates click here. Update: The live broadcast... Read more of this article
Budget: Customs Duty & Sugar Tax Changes
The Government will extend customs duty exemption for investments in plant and equipment to the personal care and personal fitness sectors, school uniforms imported by local businesses for resale and aggregate imports used to manufacture concrete and concrete blocks, Premier David Burt said, adding that there will also be adjustments to the sugar tax... Read more of this article
Cabinet Approves Morgan’s Point Project
[Updated] The Cabinet has approved the completion of Morgan’s Point, with 101 residential units planned for phase one along with an amenity village with restaurants, shops, a boardwalk and more, with the Premier saying that “initial cost estimates for this first phase are $130 million.” Premier Burt tweeted the images below, saying: “Exciting... Read more of this article
