Seniors set for inflation-linked pension increase
Seniors are in line for an inflation-linked rise in pensions, David Burt told MPs yesterday.
Mr Burt, the Premier and the Minister of Finance, also hailed an improvement in the Government’s finances and said that the 2023-24 budget deficit was now projected to be $33.4 million, $10.1 million below the original estimate.
In what some interpreted as laying the ground for a General Election, a succession of ministers stood up to deliver statements on the accomplishments of their ministries.
Some went as far back as 2017, when the Progressive Labour Party defeated the One Bermuda Alliance at the polls ‒ using their statements to take pot shots at the former government.
First Mr Burt delivered a statement entitled “Building a Better and Fairer Economy through Tax Reform”, which he followed with an “Update on Government’s Financial Performance”.
Then the Minister of National Security, Michael Weeks, delivered a statement entitled, “Seven Years in Review”.
The Minister of Public Works, Lieutenant-Colonel David Burch, spoke on “Building a Better and Fairer Bermuda”. He was followed by the health minister, Kim Wilson, who gave a statement called, “Building a Better and Fairer Health System”.
Tinée Furbert, the Minister of Youth, Social Development and Seniors, delivered a statement on “Strengthening our Social Safety Net ‒ A Reflection of the Ministry’s Work Initiatives”.
Lastly, the education minister, Diallo Rabain, gave a statement on “Building a Better and Fairer Public Education System”, in which he claimed the PLP had inherited a public education system that had been a “victim of neglect” and subjected to “unsustainable draconian budget cuts”.
A statement from the Attorney-General, Kathy Lynn Simmons, on “Building a Better and Fairer Bermuda by Strengthening Legal Protections for our Citizens”, was not read as she was absent from the House.
In his tax reform statement, Mr Burt said that from the outset “we promised to make our tax system more fair and equitable, not as a political slogan but in recognition that our unjust, unfair tax system put the heaviest burden on our poor and our working-class Bermudians”.
He added: “I can share with Honourable members and the people of Bermuda that on Tuesday, the Cabinet approved a further 2.4 per cent increase for seniors’ pensions in line with the inflation rate.
“When the House of Assembly returns in September, this government will table that increase in pensions to keep our commitment to Bermuda’s seniors.”
On the Government’s financial performance, Mr Burt said: “Based on the work to date on the 2023-24 consolidated fund financial statements, the 2023-24 budget deficit is now projected to be $33.4 million, $10.1 million below the original estimate of $43.5 million.
“Revenue is projected to be $1.18 billion, $21.9 million above the original estimate of $1.16 billion. This increase is directly related to payroll tax collections, projected to be $541.7 million, $29.2 million above the original estimate of $512.5 million.”
The Premier added: “I understand these statistics do not fit the negative narrative peddled by the Opposition.
“That is why it is vital we share this information so that the public is aware of the facts and not politically biased rhetoric.”
• To read all the statements, see Related Media
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