Hashtag: #BermudaGovernmentRevenue
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
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
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
Budget: Stimulating Tourism Job Creation
While emphasising there is “no silver bullet to deliver faster growth, employment and poverty reduction”, Premier and Finance Minister Paula Cox said in her Budget Statement today [Feb. 18] Government hopes to stimulate the economy and encourage job growth by revitalising the island’s tourism product. Premier Cox told Parliament the... Read more of this article
Video: BDA’s Fahy Responds to Budget
[Updated] Bermuda Democratic Alliance financial affairs spokesperson Michael Fahy spoke with us today [Feb 18] after the Premier and Minister of Finance Paula Cox delivered the 2011/12 budget. He praised the Premier for the payroll tax rollbacks, saying “The BDA is very pleased to hear about the reducation in payroll tax,” saying “they... Read more of this article
2011 Budget: Payroll Tax to be Rolled Back
During her presentation of the 2011/12 Budget this morning [Feb 18] in the House of Assembly, Premier and Minister of Finance Paula Cox said that payroll tax would be rolled back, which would return approximately $50 million of spending power to taxpayers in 2011–2012. The Premier said: “This was not an easy decision given the Government’s... Read more of this article
Charts: 2011/12 Bermuda Budget Explained
This morning [Feb 18] Premier and Minister of Finance Paula Cox delivered the 2011/12 Budget in the House of Assembly. The charts show an estimated revenue of $940 million, and the estimated expenditure is $1,079.5 million – a shortfall over over $130 million. You can read the full 2011/12 Budget here, or view charts extracted from the budget... Read more of this article
Full Statement: 2011/12 Budget
The full 36-page statement detailing the 2011/12 Budget which was delivered this morning [Feb 18] by Premier and Minister of Finance Paula Cox in the House of Assembly is below. The Premier started off by saying: “There are times when Government leaders take pleasure in seeing their predictions come true. This is not one of them. A year ago, I... Read more of this article
Premier on Budget: “Unprecedented Challenges”
Premier Cox has released a statement about the 2011/12 Budget – which is due to be delivered today [Feb 18] in the House of Assembly. The Premier said: “The mainsprings that underpin Bermuda’s economy(International Business and Tourism) have been weakened. We are facing sluggish growth in revenue and upward pressures on expenditure.So... Read more of this article
UBP’s Kim Swan: Pre Budget Statement
[Pre budget statement by Opposition Leader Kim.Swan] 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 – enabled since 2004 by the Premier/Finance Minister – have made the situation much worse. The Budget tomorrow must lay... Read more of this article
BDA Alliance: Pre-Budget Statement
[Pre-budget statement from the Bermuda Democratic Alliance, by Michael Fahy, financial affairs spokesperson] We are of the view that this is the toughest budget ever for the Minister of Finance. However this is of her own doing and she must accept responsibility for the state of the country’s finances. Paula Cox has, after all, had control of... Read more of this article
Looking Back: Last Year’s Budget
With this year’s budget due to be delivered this coming Friday [Feb 18], take a look back at last year’s budget, which was presented on Friday February 26, by then Deputy Premier and Minister of Finance Paula Cox. The total estimated expenditure for 2010/11 was $1,202.2 million, while the total estimated revenue was $1,058.8 – an estimated... Read more of this article
2010 Consolidated Fund Financial Statements
On Friday [Feb 4] Premier and Minister of Finance Paula Cox tabled audited financial statements relating to the Consolidated Fund for the year-ended March 31, 2010. The Consolidated Fund is the general operating fund of the Bermuda Government through which Government conducts the majority of its financial transactions. The Consolidated Fund financial... Read more of this article
Auditor General: Disappointed By Delay
Auditor General, Heather A. Jacobs Matthews [pictured] commented yesterday [Feb. 4] on the tabling of the audited financial statements of the Bermuda Government’s Consolidated Fund for the year ended March 31, 2010, stating that she was disappointed that it had taken so long for the financial statements to be tabled. “The Consolidated Fund financial... Read more of this article
2011 Budget Date Set: February 18
[Updated w/UBP response to delay] The Ministry of Finance announced that this year’s National Budget will be presented on Friday, 18 February 2011 at 10am in the House of Assembly, one week from previously announced. Members of the Opposition have 14 additional hours for the debate, increasing the total to 56 hours compared to 42 hours in previous... Read more of this article
UBP: ‘Island Faces Economic Emergency’
Bermuda faces a “national economic emergency” unless urgent remedial action is taken, Shadow Finance Minister Bob Richards said at a press conference yesterday [Jan. 20]. Mr. Richards said in the lead-up to the 2011 Budget, the onus was on Government to both curtail public spending and help re-position Bermuda so it can regain its competitive... Read more of this article
