Hashtag: #BobRichards
Premier And Ministers Conclude Meetings In UK
Premier Craig Cannonier said this week’s visit to the UK to participate in the annual Joint Ministerial Council [JMC] meetings was fruitful, and the Government said Minister Michael Fahy pressed for a guarantee that Bermudians would have access to emergency travel passports under the intended new system. The Premier, along with the Minister of Home... Read more of this article
MPs To Debate SAGE Report On December 13th
Minister of Finance Bob Richards said the SAGE report will be debated in the House of Assembly on Friday, December 13th. Minister Richards said: “Since the SAGE Report has been tabled and made available to the public there has been widespread comment and debate in various circles including within the Government, unions and the general community. This... Read more of this article
Bermuda Signs FATCA IGA Model 2 With UK
Minister of Finance Bob Richards yesterday [Nov 25] signed the UK FATCA Intergovernmental Model 2 Agreement, “IGA Model 2” with the United Kingdom. Signing on behalf of the UK was the Secretary to the Exchequer, the Hon. David Gauke. Minister Richards said, “The signing of IGA Model 2 is in keeping with the Government’s international tax strategy... Read more of this article
Finance Minister Updates On Meetings In UK
Last week Minister of Finance Bob Richards concluded meetings with various representatives of the UK Government to discuss matters related to Bermuda – UK engagement and international tax risk. On 28th and 30th October, the Minister met with representatives within the UK Parliament and the Foreign and Commonwealth Office to discuss matters of... Read more of this article
Richards: ‘Was On Brink Of Not Making Payroll’
Following a news report questioning statements made by the Premier, Finance Minister Bob Richards today [Oct 16] said the Government was “on the brink” of not being able to make payroll earlier this year. Citing sources close to the Finance Ministry, last night ZBM reported that they said the Government did in fact have enough money to make... Read more of this article
Video: Finance Minister On Borrowing $750M
After borrowing $750 million, the Government plans to raise another $50 million by offering a Bermuda dollar local issue, Finance Minister Bob Richards said today [Aug 5]. Minister Richards held a press conference about the recent bond issue, which saw the Ministry of Finance raise $750 million in 10-year bonds, at a yield of 4.85%. The Minister previously... Read more of this article
Richards: Borrow 400-800M, 3 Years Of Deficits
[Updated with video] The next bond issue, expected this summer, is anticipated to cover three years of operating deficits, and the government will borrow in the range of $400-$800 million, Finance Minister Bob Richards said this afternoon [June 20]. He said that borrowing three years worth of deficits now will save tens of millions of dollars in financing... Read more of this article
“Overseas Territories Used As Scapegoats”
“Overseas Territories and Crown Dependencies are, to some extent, being used as scapegoats and distractions,” Finance Minister Bob Richards said yesterday [June 18]. The Minister was speaking at a press conference along with Premier Craig Cannonier, after they attended a meeting in London along with representatives from the other British... Read more of this article
Finance Minister Attends Meetings In Brussels
Minister of Finance Bob Richards yesterday [June 5] concluded meetings with various agencies and departments in Brussels held on 4th – 5th June, 2013 to discuss matters related to financial services, tax, and audit. The Minister met with representatives within the EU Commission, the UK Permanent Representation and the EU Parliament to discuss... Read more of this article
Video: Finance Minister On Moody’s Downgrade
The downgrade by Moody’s wasn’t entirely unexpected and he does not believe it will hamper us in raising funds in investment markets going forward, Finance Minister Bob Richards said yesterday [May 17]. Minister Richards said, “I was a little disappointed in their prognostications in the outlook. I think we laid out our case pretty... Read more of this article
Minister Richards Appears On UK’s Sky News
Yesterday [May 2] Minister of Finance Bob Richards appeared on Sky News to discuss Bermuda’s decision to negotiate and sign a FATCA Intergovernmental Agreement [IGA] Model 2 with the USA, the UK, and the G5 European Union countries once the G5 European Union Multilateral FATCA is established. This agreement will essentially result in financial institutions... Read more of this article
Video: Strengthening Ties Between Bermuda, UK
Britain’s Minister for the Overseas Territories Mark Simmonds, Governor George Fergusson, Premier Craig Cannonier and Finance Minister Bob Richards held a press conference this morning [Apr 26] where they discussed how they can work together for the benefit of Bermuda. Premier Craig Cannonier said, “We want to assure Bermuda that we continue... Read more of this article
Video: Minister Richards On Economic Growth
Minister of Finance Bob Richards said he cannot give a “huge amount of hope for economic growth this year”, however said the things have been put in place by the Government are starting to work. The Minister was speaking at the Capital G Wealth Conference, beginning his speech by joking about his 7-minute limitation, saying that “as... Read more of this article
House Passes Debt Ceiling Raise: To $2.5B
Last night Parliamentarians passed the Government Loans Amendment Act 2013, allowing for the Government’s authorized debt ceiling to raise from $1.45 billion to $2.5 billion. The raise does not mean the Government intends to immediately borrow this amount, it means it is legally permissible to. The bill still has to go to the Senate before it... Read more of this article
Brian Duperreault To Head SAGE Commission
[Updated w/PLP comment] Insurance executive Brian Duperreault will head the new Spending and Government Efficiency [SAGE] Commission, Finance Minister Bob Richards announced this morning [Feb 28]. The other members of the Commission will be Kim White, Kenneth Dill, Peter Hardy, Kathy Duffey and Don MacKenzie. Minister Richards said the Commission’s... 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
