Hashtag: #BermudaGovernmentSpending
Charts Only: 2016-2017 Bermuda Budget
For those seeking a quick visual view of the 2016 Budget delivered in the House of Assembly by Finance Minister Bob Richards this morning [Feb 19], the charts extracted from the Budget are below. For comparison’s sake, charts from the 2015 Budget are here, charts from the 2014 Budget are here, charts from the 2013 Budget are here, charts from... Read more of this article
Finance Ministry On 2015/16 Budget Performance
The Ministry of Finance today reported on nine months of fiscal performance to December 2015 saying they believe the “deficit for fiscal year 2015/16 will be approximately $213 million, slightly better than its original estimate of $220 million.” The statement said, “The headline numbers for the 2015/16 National Budget is as follows: a... Read more of this article
Balance Of Payments & International Investment
The Bermuda current account recorded a surplus of $224 million in the third quarter of 2015, according to the most recent Balance of Payments and International Investment Position report. “The current account surplus stood at $224 million for the third quarter of 2015. This represented a $62 million increase from the $162 million surplus in the... Read more of this article
Ministry: 2015/16 First Half Fiscal Performance
The headline numbers for the 2015/16 National Budget are a revenue target of $931 million; current expenditure of $1.08 billion, including debt service; capital expenditure of $68.7 million; and a projected deficit of $220 million, the Ministry of Finance said today. In reporting on the 2015/16 First Half Fiscal Performance and providing an updated... Read more of this article
‘Rules Didn’t Matter, Overspending Didn’t Matter’
“It was conditions where rules didn’t matter and overspending didn’t matter,” Finance Minister Bob Richards said following the release of the Auditor General’s report, adding that “when you have that kind of poor level of governance it costs taxpayers millions.” The Auditor General’s report covered 2010, 2011 and... Read more of this article
Video: PLP On Use Of Public Funds For Lawsuit
“Mr Burt’s comments were in relation to the legal action launched against BPSU President and People’s Campaign member Jason Hayward, which was initiated by Finance Minister Bob Richards after Mr Hayward made certain statements about the Minister on a TV appearance in relation to the emails over the airport contract with the Canadian... Read more of this article
Govt’s 2015/16 First Quarter Fiscal Performance
Saying that it is in “accordance with Government’s commitment to effecting ongoing improvements in its reporting on the fiscal affairs of the country,” the Ministry of Finance today [Aug 19] reported on the 2015/16 First Quarter Fiscal Performance. “The headline numbers for the 2015/16 National Budget are: a revenue target of $931... Read more of this article
Burt: ‘We Have To Return Economy To Growth’
When the Government borrowed the $800 million the Finance Minister said that it would last for three years and “already he is coming back saying that we need to borrow additional funds” which means “the Government’s economic plan is not working,” Shadow Finance Minister David Burt said “They were planning on growing the economy... Read more of this article
PAC Meets On Port Royal Golf Course Costs
The Parliamentary Standing Committee on the Public Accounts conducted a Public Hearing on Thursday [April 30] in reference to the Port Royal Golf Course renovation project. The management of the project was criticised in the Auditor General’s report which said the project incurred costs of more than $24 million during 2007 to 2011 – for a project... Read more of this article
Government: 79 People Taking Early Retirement
The 2015/16 Budget highlighted an early retirement eligibility plan for Government employees aged between 55 and 64 years, and today [April 9] the Cabinet Office said that 79 people will have taken early retirement by June 30, 2015, and “Government foresees some $6.2 million in savings from salaries.” The full statement from the Cabinet... Read more of this article
PLP Question $1.5M Legal Fees For Waterfront
[Updated] “The revelation that the OBA paid out nearly $1.5 million in legal fees to seek guidance on how to void the Hamilton Waterfront Lease is an affront to every Bermudian who has been forced to bear the burden of that organization’s version of shared sacrifice,” Senator Marc Daniels said this evening. Senator Daniels said, “Assuming... Read more of this article
Charts Only: Opposition’s 2015 Budget Reply
For those seeking a quick visual view of the Progressive Labour Party’s official response to the 2015 Budget, which was delivered in the House of Assembly by Shadow Finance Minister David Burt today [Feb 27], the charts extracted from the Reply are below. You can view the complete Reply to the Budget here, and view all our coverage of the 2015... Read more of this article
400-Page ‘Budget Book’ Now Available Online
The full 400-page ‘Budget Book’ containing the Estimates of Revenue and Expenditure for the Year 2015/16, is now available online, with open data website Bermuda.io posting the entire document, which can be accessed here. Finance Minister Bob Richards delivered the 2015/16 Budget on Friday [Feb 20], in which he said that gross public debt... Read more of this article
90 Minute Video: Chamber’s Budget Breakfast
The Bermuda Chamber of Commerce hosted their Annual Budget Breakfast this morning [Feb 23] at Lower Pier Six, with the panelists included Minister of Finance Bob Richards, Nathan Kowalski of Anchor Investment Management, Kim White of Cox Hallett Wilkinson who also served on the SAGE Commission, while Arthur Wightman of PwC Bermuda served as moderator. The... 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
