$753m

The estimated take from the corporate income tax for the 2026-27 financial year, $153 million more than originally expected

$605m

The full value of the Bermuda government bond that will be paid off in full in January 2027

19%

The ratio of net Bermuda government debt to gross domestic product

$2.03bn

The total amount of government revenue projected to be raised in the 2026-27 financial year

41.7%

The percentage increase in government revenue projected for 2026-27, owing in large part to the addition of the corporate income tax

$1.25bn

Total government current account expenditure for 2026-27

12.4%

The increase in government spending compared to the original estimates for 2025-26

$182m

Government capital spending in 2026-27, compared with $138 million this year and $66 million in 2022-23

$25m

The amount Bermuda will stop paying in interest payments as a result of reducing the Government’s national debt. However, debt service still still be $100 million

70%

The amount of corporate income tax revenue that will be dedicated to paying off debt, paying debt interest and acquiring net financial assets under new rules confirmed by the Premier in the Budget

$120

The amount a person earning $48,000 will pay in annual payroll tax

$6,420

The amount a person earning $120,000 will pay in annual payroll tax

71%

The increase in capital funding for the Ministry of Education, which will be used for building improvements, including at the signature schools at CedarBridge Academy and The Berkeley Institute. An amount of $5.5 million has been set aside for classroom improvements for education reform

$1.25m

The amount allocated to the Department of Statistics for the upcoming 2026 Census

$4.5m

The amount allocated for the refurbishment and redevelopment of Montpelier, the former deputy governor’s residence, the derelict Admiralty House ballroom, and St David’s Lighthouse

$4m

The increase in the Bermuda Tourism Authority’s grant to $19.5 million, which is to focus on driving demand in the months outside the summer season and to support sales and marketing initiatives as the Fairmont Southampton Princess comes back online

65

The normal retirement age when people can start drawing their government pensions from the Contributory Pension Fund, at least for now, according to Mr Burt, who said: “There will need to be a gradual increase in the age that one receives social insurance benefits.”

0%

The amount Bermuda residents pay in income tax. This may begin to change as the Premier said the Government will begin to collect data on personal and business income after a recommendation from the Tax Reform Commission for “a low-rate, broad-based income tax system designed to maintain Bermuda’s competitiveness”

$46m

Increase in the Statutory Hospital Patient Subsidy from $112.5 million

$257,707

The salary David Burt will be giving up if he goes to the back benches after stepping down as Premier

$73,555

The salary Mr Burt would have as a backbencher