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Bermuda’s financial liabilities stretch far beyond its net debt of $3 billion. It is estimated a further $1.5 billion to $1.7 billion of unfunded liabilities are stored up in the Public Sector Superannuation Fund, the Ministers and Members Legislatur...

I remember the Golden Hinds fiasco perhaps 30 or so years ago, where a feud between a couple of United Bermuda Party government ministers destroyed an opportunity to develop that property into a brand-new, luxury Ritz-Carlton. The development was fi...

Government spending will top the $1 billion mark in the next financial year, the Minister of Finance revealed yesterday. Curtis Dickinson said that estimated revenue for the year was $998.8 million and that a Budget deficit of $124.5 million would be...

Almost 3,000 jobs were lost last year as the pandemic wreaked economic havoc across Bermuda, Government said yesterday. With the Bermuda economy contracting by an estimated 8.5 per cent, the near Depression scale downturn was thought to have cost 2,9...

The Government’s plans for economic recovery over the in the new financial year were branded “aspirational and low on detail” by the One Bermuda Alliance yesterday. Cole Simons, the Leader of the Opposition, said Bermuda’s debt combined with pension ...

Proposed spending cuts included in the 2021/22 Budget statement could be tough to maintain, an economist warned yesterday. Peter Everson, a businessman and former president of the Chamber of Commerce, said: “The hard part, as always, is will the Gove...

The Budget does very little to help the non-profit sector, charity leaders said yesterday. Jennifer Burland-Adams, the co-chair of the Non-Profit Division of the Chamber of Commerce, said that she was “disappointed” workers with registered charities ...

The Government has committed to a $10 million guarantee to support further development of the Bermudiana Beach Resort in Warwick. In his Budget speech, Curtis Dickinson, the Minister of Finance, said the redevelopment of the property – originally ere...

A “project management team” is to be created to help boost the economy, the finance minister announced yesterday. Curtis Dickinson said during his 2021-22 Budget statement that a list of 30 policy changes and initiatives had been developed to “accele...

In the Westminster system, Budgets have traditionally been shrouded in mystery. There’s good reason for this: leaks of tax increases or policy changes would lead to hoarding, profiteering or abuse. In the 1930s, a British Cabinet minister was forced ...

The Royal Gazette offers a Budget overview with the highlights to take away in the wake of an unprecedented year – with “recovery” the key word for the year ahead. You can find the full article here. We have posted the YouTube video of the Speech...

A 10 per cent public sector pay cut last year will not be extended in the 2021-22 Budget, the Premier revealed last night. David Burt wrote on twitter: “We are most proud to recognise the sacrifice of public sector workers by presenting a budget that...