Hashtag: #BobRichards

Video: Minister Richards On “BBC Newsnight”

Video: Minister Richards On “BBC Newsnight”

Finance Minister Bob Richards appeared on the ‘BBC Newsnight’ programme to discuss the ‘Panama Papers’ and the suggestion from the UK Labour Party Leader Jeremy Corbyn that the UK should consider imposing “direct rule” over British Overseas Territories if they do not comply with UK tax rules. An 8-minute video of the Minister’s... Read more of this article

Podcast: Finance Minister On 2016/17 Budget

Podcast: Finance Minister On 2016/17 Budget

In the latest edition of the Bernews podcasts, we talk to Finance Minister Bob Richards about the 2016/17 Budget. In the interview he said the previous regime, when it raised payroll tax, made a critical error by not consulting with IB in particular, but he said the Fiscal Responsibility Panel, set up last year to look at the tax regime, had consulted... Read more of this article

Minister Bob Richards: “It’s A Huge Win For Us”

Minister Bob Richards: “It’s A Huge Win For Us”

“It’s a huge win for us and a stamp of approval for our industry,” Finance Minister Bob Richards said following the news that the European Commission has found Bermuda fully equivalent under the European Union’s Solvency II regulatory and supervisory system. Asked to explain why it’s so important, the Minister told Bernews:... Read more of this article

‘Rules Didn’t Matter, Overspending Didn’t Matter’

‘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

Minister Richards: Govt Will Not Pay Legal Costs

Minister Richards: Govt Will Not Pay Legal Costs

The government’s financial support is “becoming a distraction from the real issues” so he will “not be seeking reimbursement of legal costs from the government in his legal action for defamation,” Minister of Finance Bob Richards said today. The Finance Minister launched legal action against BPSU President and People’s Campaign... Read more of this article

Finance Minister Comments On Tax Haven List

Finance Minister Comments On Tax Haven List

The Deputy Premier and Minister of Finance Bob Richards today [Aug 28] commented on a report that Bermuda has been named to a new tax haven list drawn up by the District of Columbia in the US. While such changes would first have to be reviewed by the US Congress before becoming law, the Minister stated, “As we recently told the European Commission,... Read more of this article

Minister Richards New York Trip Cost $2,180.76

Minister Richards New York Trip Cost $2,180.76

A trip in June 2015 by Finance Minister Bob Richards to New York, New York to participate in the US Mexican Chamber of Commerce – New Insurance and Reinsurance Regulations Conference cost $2,180.76, according to a recent listing on the Government’s travel webpage. The trip took place from Tuesday, June 2nd to Wednesday, June 3rd, and the... Read more of this article

Minister Richards UK/Brussels Trip Cost $9,810

Minister Richards UK/Brussels Trip Cost $9,810

A trip in June 2015 by Finance Minister Bob Richards to the UK and Brussels to attend meetings about Solvency II and tax related matters cost $9,810.91, according to a recent listing on the Government’s travel webpage. The trip took place from Sunday, June 21st to Friday, June 25th, and the webpage listing said: “Minister met with UK Foreign... Read more of this article

Minister: Govt Arranges $200 Million Loan Facility

Minister: Govt Arranges $200 Million Loan Facility

[Updated] The Bermuda Government will be executing a $200 million loan facility agreement with the Bank of NT Butterfield, Minister of Finance Bob Richards in the House of Assembly today [July 17], saying that when this facility is fully drawn Bermuda’s gross debt will stand at $2.385 billion. Minister Richards said, “Members will recall... Read more of this article

Minister Bob Richards: “This List Is Baseless”

Minister Bob Richards: “This List Is Baseless”

Speaking on Bermuda being placed on EU list of “uncooperative” tax jurisdictions,” Deputy Premier and Minister of Finance Bob Richards said the “list is baseless and does not survive even cursory scrutiny.” Speaking in the House of Assembly today [June 19], Minister Richards said, “On Wednesday June 17th 2015, the European... Read more of this article

Deputy Premier Hosts Gibraltar Representatives

Deputy Premier Hosts Gibraltar Representatives

The Deputy Premier and Minister of Finance Bob Richards today [June 10] met with the Minister for Financial Services and Gaming of Her Majesty’s Government of Gibraltar, the Hon. Albert Isola, and James Tipping, the Finance Centre Director at the Ministry of Financial Services. “Accompanied by the Financial Secretary, Anthony Manders, Minister... Read more of this article

Minister: Airport Plan Appraisal Now Completed

Minister: Airport Plan Appraisal Now Completed

Today [May 20], Deputy Premier and Minister of Finance Bob Richards announced the “completion of an independent appraisal of the method of procurement for the redevelopment of the L.F. Wade International Airport using the Canadian Commercial Corporation [CCC].” Minister Richards said, “In order to improve the value of this unique proposal,... Read more of this article

Video: Finance Minister On Aecon/CCC Deal

Video: Finance Minister On Aecon/CCC Deal

“The notion that somehow we were doing some sort of deal with Aecon before we met and dealt with CCC is nonsense” and the “idea that somehow we had some sort of plot or collusion is ludicrous,” Finance Minister Bob Richards said today [May 13], adding that “there is nothing that we have done that has not been according... Read more of this article