Premier announces midyear Budget review
The Premier has promised a midyear National Budget review that will include measures to reduce the cost of living for Bermudians.
David Burt said that the Government would use its summer break to find ways to provide more financial relief to the public.
He added: “Your government will not wait for future fiscal years to take action; we will act now to provide the support that our community desperately needs.
“We will put the needs of the Bermudian people above the desire for an impressive balance sheet – and the additional measures will be thoughtful, sustainable and financially prudent, as all of our decisions have been.”
The Premier, who also serves as the Minister of Finance, was speaking during his national address to the country yesterday.
Mr Burt reasoned that the Progressive Labour Party government had made helpful economic strides since 2017 and would use these “improved economic performance and finances” to provide more support.
He said: “Unlike previous governments, we will not ask the people of Bermuda to give more than they already have.”
Mr Burt added: “There will be no cuts to essential services, no implementation of furloughs, no increase in taxes and no withholding of support from our seniors or our most vulnerable.”
Mr Burt recalled recent tragedies that the island had endured, including the death of a family of four and the daylight killing of two young men.
He promised to work with Government House and police to strengthen community safety efforts.
But he recognised that “policing is only part of the solution” and would also focus on improving social resources to address the root problems of poverty and crime.
The Premier referenced several moves to improve the lives of residents, including tax reductions for workers, increasing affordable housing options and keeping pensions in line with inflation rates.
He also noted the increase of scholarship and development programmes, as well as the reformation of the education system.
Mr Burt said that his government had also seen the country recover from a “once in a century” pandemic in 2020 and went on to balance the nation’s budget.
He added: “I know that many will ask why the Government is making this announcement at this time. The simple answer is that it is the right thing to do.
“If we want our community to come together and work hand in hand to address the social challenges we face, we must do what we can to ensure that people in the community can focus on unity and supporting one another rather than being overwhelmed by the costs of their everyday needs and have access to the support needed to tackle community violence.”
Mr Burt closed with: “In closing, as we prepare to celebrate emancipation with Cup Match, rest assured that your government will be working hard over the summer to deliver an impactful package in September.
“We have achieved much over the past seven years, but we know more must be done.
“This government remains committed to the mission to support working people and we will redouble our efforts to ensure that all Bermudians feel the benefits of the collective progress we have made and will continue to make together.”
Rayki Bascome-Emery, the chairman of the Free Democratic Movement, said that the party was “unimpressed” with the Premier’s address.
He said: “The underwhelming efficiency of his government is the root cause of the problems he provided an overview of solutions for.
“We see this recent presentation as his attempt at bread and circuses with the objective of bamboozling the communities that his government has neglected.”
Mr Bascome-Emery added: “His ‘throw money at it’ approach to fixing the social ills of the country reeks of a man who leads a government that is out of ideas, energy and the will to work with the people.
“The balanced Budget that he was so proud of seems to be morphing into another deficit Budget with each attempt at throwing money at Bermuda’s problems.”
Mr Bascome-Emery, speaking in place of Marc Bean, the party leader, said that Mr Burt’s pledge to “not wait for future fiscal years to take action” was “concerning and irresponsible”.
He explained that the position reflected a willingness to jeopardise Bermuda’s long-term financial stability.
Mr Bascome-Emery added that the Premier’s claim of “thoughtful, sustainable and financially prudent” decisions did not live up to history.
He said: “Where was this thoughtfulness when giving away eight hundred thousand of our money to an American promoter?
“This money is yet to be recovered and came out of the pockets of the people he claims to represent.”
Mr Bascome-Emery said that Bermuda was one of the world’s most expensive places to live directly because of the Government’s policies.
He added: “We hope that he [the Premier] does not make any decisions that will negatively impact us in the long term for short-term political gain.”
The One Bermuda Alliance did not respond by press time.
• To read David Burt and Rayki Bascome-Emery’s statements in full, see Related Media
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