The Bermuda Hospitals Board had its budget cut in part because it had amassed $100 million in cash reserves, according to Bob Richards.

Speaking during the debate on the 2017-18 Budget in the House of Assembly, the Minister of Finance noted the $25 million in budget cuts to the BHB, saying that the move would have no effect on service.

Explaining the decision, he told the House: “The BHB was sitting on $100 million in cash.

“At least $50 million of that they didn’t need for their operations. So we said in the budget we are going to make an adjustment and we have done so and it will have zero effect on service in this country.”

Jeanne Atherden, the Minister of Health and Seniors, had previously cited “continued modernisation, cost cutting and other efficiencies as well as reserves” as reasons that the 13 per cent budget cut to the ministry would not affect service.

The Ministry of Health and Seniors had previously been the top budgeted item, however debt service claimed that title in the 2017-18 Budget.