Log In

Reset Password

Bob Richards to deliver UBP's Budget Reply today

Shadow Finance Minister Bob Richards will today make what the United Bermuda Party claims is the most important Budget Reply in the modern era.

A tough week for Finance Minister Paula Cox — which has already seen her Budget come under fire from the public, business leaders and politicians — will likely conclude with more criticism from a string of Opposition MPs in a lengthy session in the House of Assembly.

Some Government backbenchers are said to be ready to raise misgivings of their own, particularly over the payroll tax rise from 14 percent to 16 percent, although Ms Cox retains some support from Progressive Labour Party MPs who say she has done a good job in difficult circumstances.

UBP Leader Kim Swan told The Royal Gazette yesterday: "I think this is the most significant Budget Reply in Bermuda's modern times. Not since the Second World War has the Island been more vulnerable.

"What disturbs us most about the situation is the fact that this Government's bad habits — careless spending, massive debt, self enrichment — have seriously compromised out ability as a country to respond to the challenges.

"And without any demonstration that they are changing their ways, the Finance Minister is coming after Mr. and Mrs. Bermuda to pay for those bad habits — to the tune of $100 million in new taxes.

"I am looking forward to Bob Richards' Reply because he has long been correctly diagnosing our economic situation and calling for a better approach to managing the public purse — one that emphasises prudence, living within our means, the judicious use of debt, sound decision-making and respect for the people's money. He is a good man working hard to show Bermudians that we can do much better than what this Government is doing to the Country."

UBP Whip Cole Simons said many of his colleagues had plenty to say, explaining: "Given where we are economically, people are feeling it more than ever. Families are really, really feeling the pinch."

PLP backbencher Wayne Perinchief has already spoken out against the payroll tax rise, while other Government members are said to believe Ms Cox has shown little concern for the working class.

However, former Premier Alex Scott, now a backbencher, said: "Obviously, it's a challenging environment from an economical point of view and I think all things considered the Finance Minister has cut the cloth accordingly. "There are obviously some areas where there's disappointment that the hand of the tax collector has been placed, but I think it's certainly well required for Government to be prudent in its spending in future."

Mr. Scott said Government should think carefully about how it cuts back spending, especially in the light of rising unemployment levels, adding: "You have to look at expenditure for things like the (Music) Festival.

"Yes, Government members must travel; that's only a very small percentage, but it's an indicator of whether Government really is cutting the cloth accordingly. I do believe we have to look at the area of consultants. There seems to be an abundance or a proliferation of consultants to this end. Maybe we have to look to home-grown experts more. "All in all, I think it's a tough time economically led to a tough Budget. I think the debate this time is going to be helpful because while one can expect the critical view of the Opposition, I think the critical view of all is welcome."

Bermuda Democratic Alliance's Reply will be led by MP Shawn Crockwell who says the Budget "picks the pockets of the people" and is not prudent enough.