Hashtag: #BermudaGovernmentSpending
Full Document & Extracts: 2020 Budget Speech
This morning [Feb 21], Minister of Finance Curtis Dickinson delivered the 2020 Budget in the House of Assembly, which details Government’s financial plans for the upcoming fiscal year. A copy of the full Budget statement is below along with some extracts, and you can view our live blog on the Budget here and all our coverage of the 2020 Budget here. 60/40 Rule... Read more of this article
Govt: 2019/20 First Half Fiscal Performance
The Ministry of Finance today [Dec 23] reported on the 2019/20 First Half Fiscal Performance and provided an updated Economic Review for 2019. The Ministry said that highlights include: “Total Revenues of $545.4 million [Up $7.9 million versus First Half 2018/19] “Total Expenditure of $552.9 million [Down $31.4 million versus First Half... Read more of this article
Balance Of Payments & International Investment
Today [Nov 6] the Minister for the Cabinet Office Wayne Furbert released the 2019 Q2 Balance of Payments & International Investment Position publication from the Department of Statistics. Minster Furbert said, “Bermuda’s trade with non-residents resulted in a $161 million surplus for the second quarter of 2019. Bermuda’s stock of foreign assets... Read more of this article
Govt: 2019/20 First Quarter Fiscal Performance
The Ministry of Finance today [Sept 17] reported on the 2019/20 First Quarter Fiscal Performance. 2019/20 First Quarter Fiscal Performance: A Government spokesperson said, “The headline numbers for the 2019/20 National Budget was: a revenue target of $1,118.5 million; current expenditure of $1,046.4 million, including debt service; capital expenditure... Read more of this article
Balance Of Payments & International Investment
Minister for the Cabinet Office Wayne Furbert released the 2019 Q1 Balance of Payments & International Investment Position publication from the Department of Statistics. The Minister explained, “Bermuda’s trade with non-residents resulted in a $204 million surplus for the first quarter of 2019. Bermuda’s stock of foreign assets at the end... Read more of this article
Balance Of Payments & International Investment
Minister for the Cabinet Office Wayne Furbert released the 2018 Q4 Balance of Payments & International Investment Position publication from the Department of Statistics. The Minister explained, “Bermuda’s trade with non-residents resulted in a $233 million surplus for the fourth quarter of 2018. Bermuda’s stock of foreign assets at the end... Read more of this article
Minister: ‘Economic Data Exhibits Positive Signs’
Minister for the Cabinet Office Walton Brown released publications from the Department of Statistics including the Consumer Price Index for September and October 2018, the 2018 Quarter 2 – Gross Domestic Product, and the 2018 Quarter 2 – Balance of Payments / International Investment Position. Consumer Price Index [CPI] – September 2018... Read more of this article
Fiscal Responsibility Panel Assessment Report
“Of greatest concern is the certainty of the island’s shrinking workforce and rapidly ageing population” as “this will put ever-increasing pressure on both taxes and spending.” This was contained in the Bermuda Fiscal Responsibility Panel’s 2018 Annual Assessment, which was tabled in the House of Assembly today [Dec 7]. A... Read more of this article
Govt: 2018/19 First Half Fiscal Performance
The Ministry of Finance today reported on the 2018/19 First Half Fiscal Performance and provided an updated Economic Review for 2018. 2018/19 First Half Fiscal Year Performance: “The headline numbers for the 2017/18 National Budget were: a revenue target of $1.09 billion; current expenditure of $1.2 billion, including debt service; capital expenditure... Read more of this article
What’s Being Considered For The 2018 Budget?
[Updated] Not moving ahead with the second phase of the payroll tax proposal by the former Government, payroll tax relief for repatriating jobs back to Bermuda; a Professional Services Tax on legal, accounting & other business consultancy services; a sugar tax, and taxing commercial rents are some of the initiatives being considered for the 2018/19... Read more of this article
Premier Burt Releases ‘Pre-Budget Report’
With the 2018/19 Budget set to be delivered on February 16th, Premier and Minister of Finance David Burt has released a 35-page Pre Budget Report and will also host a public meeting on January 30th, saying that Government “want to establish a clear and transparent Budget process.” Speaking at a press conference today, Premier and Minister... Read more of this article
Fiscal Responsibility Panel Report Released
“Debt service now accounts for 17% of government spending and is the single largest item of expenditure” and “deficit and debt reduction should remain a high priority,” the Bermuda Fiscal Responsibility Panel said, with their third annual assessment having been completed, and set to be laid before the legislature when Parliament... Read more of this article
