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Work under way to ease cost of living

Wayne Furbert, the Acting Minister of Finance, led the second reading in Parliament of a legislative amendment to end bearer shares (File photograph)

Across Bermuda, families are doing everything right, working hard and budgeting carefully, yet still finding that their money does not go as far as it once did.

That is why our focus right now is simple: lower costs where we can and ensure Bermudians keep more of what they earn.

In Parliament, we recently reduced vehicle licence fees again. Since 2018, those fees have now been cut by 20 per cent, putting real savings back into the pockets of thousands of households.

We also eliminated tariffs on everyday goods to help bring down prices and reduced payroll taxes to support workers and local businesses.

None of these steps solve every challenge overnight. But they give families something many people need right now, a little breathing room.

At the same time, relief today must go hand in hand with opportunity tomorrow.

That means investing in education and training, supporting Bermudian businesses, and expanding housing so more people can afford a home.

Government cannot control every cost facing families. But where we can make life a little easier, we act to reduce pressures within our control.

We remain focused on taking practical actions that deliver real, everyday relief.

· Wayne Furbert is the Junior Minister of Finance and the Progressive Labour Party MP for Hamilton West

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Published March 21, 2026 at 7:17 am (Updated March 21, 2026 at 7:17 am)

Work under way to ease cost of living

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