Retailers could get duty breaks
attention'', Premier Jennifer Smith told employers yesterday.
And she indicated that the next Budget may address some of them.
Speaking at the Bermuda Employers Council annual general meeting, Ms Smith promised that the Progressive Labour Party Government, as stated in its 1998 election platform, would look at a six-month extension for Customs duties to help small businesses improve their cash flow.
She also disclosed that Government would consider allowances to small and medium-sized businesses for investment in their physical plants and machinery.
However, she warned that retailers must reinvent themselves to stay afloat in 2000 and beyond.
"I must caution that as Government, we are charged with striking the correct balance to achieve what is right for all Bermudians,'' Ms Smith said.
And in a statement which seemed to suggest the Government may not support retailers' efforts to have duty eliminated on goods ranging from apparel to jewellery, she said: "Government certainly does not have the cure for every problem. And I am sure that the retail sector is well aware that all of the sector's problems will not be solved by tax relief, or other financial measures.'' Full story: Business, Page 29
