Hashtag: #BermudaGovernmentRevenue
$93.7 Million Budget For Tourism & Transport
The Ministry of Tourism Development and Transport’s budget for the fiscal year 2013/14 has decreased by 3% from $96.3 million to $93.7 million, Minister Shawn Crockwell said. The Ministry’s anticipated Government revenue is projected to increase by 3% from $51.7 million to $53.4 million, the Minister said – with the increase driven by revenue... Read more of this article
PLP Deliver Reply To The 2013/14 Budget
[Updated with video] Shadow Minister of Finance David Burt is delivering the Opposition’s Reply to the 2013/14 Budget in the House of Assembly this morning [Mar 1]. This was the first budget devised by Finance Minister Bob Richards on behalf of the One Bermuda Alliance Government, who took control following their 19-17 victory at the polls in... Read more of this article
BPSU Response To The 2013/14 Budget
The Bermuda Public Services Union responded to the 2013/14 Budget saying that while the Government may want us to believe that this Budget will take us in a new direction, it “takes us further into the hole we are trying to get ourselves out of.” Highlights of the recently released Budget include raising the debt ceiling from $1.45 billion... Read more of this article
Videos: Post 2013/14 Budget Press Conference
Finance Minister Bob Richards and Premier Craig Cannonier held a press conference yesterday [Feb 22] following the delivery of the 2013/14 Budget. They were joined by the Cabinet Ministers as well as OBA MPs. Highlights of the Budget include raising the debt ceiling from $1.45 billion to $2.5 billion, reducing the fees for non-Bermudians to purchase... Read more of this article
PwC 2013/14 Budget Highlight Summary
Following the delivery of the 2013/14 Budget this morning [Feb 22] by Minister of Finance Bob Richards, PricewaterhouseCoopers Bermuda released a highlights summary. Tom Miller, PwC Partner, commented on the budget: “It’s a budget that recognises the seriousness of our fiscal situation, while taking actions to make the Island more competitive and... Read more of this article
Live Blog Updates: 2013/14 Bermuda Budget
[Updated] Finance Minister Bob Richards is set to deliver the 2013 Budget in the House of Assembly this morning [Feb 22], which will set out the Government’s financials plans for the upcoming fiscal year. This will be the first budget devised by Minister Richards on behalf of the One Bermuda Alliance Government, who took control following their... Read more of this article
“Budget Puts Everyone But Bermudians First”
The 2013/14 Budget gave non-Bermudians and employers tax relief, while everyday Bermudians and seniors will see their cost of living go up, Shadow Finance Minister David Burt said today [Feb 22]. Budget highlights include raising the debt ceiling from $1.45 billion to $2.5 billion, reducing the fees for non-Bermudians to purchase property, commencing... Read more of this article
Property Fees For Non-Bermudians Lowered
[Updated] In this morning’s [Feb 22] Budget statement, Finance Minister Bob Richards revealed that licence fees for non-Bermudians purchasing property will be lowered in a bid to boost jobs, the construction industry, and customs duties. License fees will be reduced from 25% to 8% for those purchasing Bermuda homes, lowered from 18% to 6% for... Read more of this article
Chamber: ‘Encouraged By Honest Approach’
The Bermuda Chamber of Commerce responded to the 2013/14 Budget delivered this morning [Feb 22] by Finance Minister Bob Richards, saying they are “encouraged by the refreshingly honest approach taken by the Finance Minister to the 2013 Budget.” Peter Everson, Co-Chair of the Chamber’s Economics Committee noted: “The Minister did not... Read more of this article
Deloitte Release 2013/14 ‘Budget Snapshot’
Following the delivery of the 2013 Budget by Finance Minister Bob Richards this morning [Feb.22], Deloitte released a ‘Budget Snapshot’, which follows in full below: Public Debt The statutory debt ceiling will be raised from $1.45 billion to $2.5 billion. Payroll Taxes There will be a 2 year payroll tax holiday for new Bermudian hiring. Payroll... Read more of this article
Charts Only: 2013-2014 Bermuda Budget
For those seeking a quick visual view of the 2013 Budget delivered in the House of Assembly by Finance Minister Bob Richards this morning [Feb 22], the charts extracted from the Budget are below. For comparison’s sake, charts from the 2012 Budget are here, charts from the 2011 Budget are here, and charts from the 2010 Budget are here. View all... Read more of this article
Document: Government Financial Statements
[Updated] The recently released financial statement show the Government’s revenue for the year ended 31 March 2012 was around $914 million, while total expenses were around $1.26 billion — a deficit of around $343 million. The expenses decreased from the previous year [2011 = $1.3B] as did the revenue [2011 = $996.7M]. The Government’s... Read more of this article
PLP: ‘We Reduced Taxes, Cut Spending & Deficit’
The figures released by the Ministry of Finance show that “the PLP Government was successful in its aims of reducing taxes, cutting spending, and reducing the deficit,” a statement from the Opposition PLP said. They were speaking after yesterday’s [Jan 16] press conference by Finance Minister Bob Richards about the state of the island’s... Read more of this article
Minister Richards Gives First Finance Briefing
[Updated with video] Minister of Finance Bob Richards held his first press conference this afternoon [Jan 16], addressing the state of the island’s finances. Minister Richards gave some preliminary numbers, and said “the state of Government finances is every bit as bad as we had feared it might be when we were on the outside.” The... Read more of this article
Finance Ministry Releases 2012 Mid-Year Review
The Ministry of Finance released the ‘Bermuda Economy 2012: Mid-Year Economic Review’, which The headline rate of inflation in September 2012 stood at 1.9 per cent year-over-year. The primarily causes of inflation during the last twelve months were increased costs of medical supplies, prescription drugs and health insurance premiums in... Read more of this article
Dept Of Statistics: GDP Fell By 3.5% In 2011
In 2011, Gross Domestic Product [GDP] — which measures the total value of goods and services produced in Bermuda — fell by 3.5%, according to a report released by the Department of Statistics. The report said that at the end of 2011 there were 210 fewer jobs in the international business industry, 129 job losses in the wholesale and retail... Read more of this article
