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Chamber to host Annual Budget Breakfast

Upcoming budget: Nathan Kowalski, economist and president of the Bermuda Chamber of Commerce (Photograph supplied)

The Bermuda Chamber of Commerce hosts its Annual Budget Breakfast on Monday, February 20 at the Hamilton Princess Hotel, sponsored by PwC Bermuda.

The breakfast is typically held the Monday following the delivery of the Budget Statement to Parliament which will be held on February 17 this year, by the finance minister.

A discussion moderated by PwC territory leader Arthur Wightman, will help those attending gain insight from community leaders in government, finance, and business.

Discussing the implications of the upcoming budget for the economy will be a panel of experts led by David Burt, the Premier and Minister of Finance.

He is joined by Nathan Kowalski, economist and president of the Bermuda Chamber of Commerce, on the panel of experts, the remaining two members of which are yet to be named.

The Chamber’s chief executive officer Kendaree Burgess said: “As we move into a post-pandemic world, the pressure and challenges on both the local and global fronts are immense.

“Making sure that business and government are properly aligned and prepared is essential as we seek to create an economy in which our community can plan and thrive in whatever the future may bring.”

Arthur Wightman, PwC Bermuda territory leader, said: “The country continues to struggle to achieve a strong rebound from the pandemic, as it faces the fresh challenge of a slowing global economy.

“PwC's 2023 Annual Global CEO Survey finds 73 per cent of CEOs around the world believe global economic growth will decline over the next 12-months – the most pessimistic outlook in over a decade.

“As the world continues to change at a relentless pace, the risks facing businesses, people, and the planet will only continue to rise. Just as businesses must transform, so must our government, by innovating and making bold choices.

“The Pre-Budget Report, in particular the proposed changes to payroll tax, have been met with concern by the international business community especially against a backdrop of governments around the world contending with the challenge of doing more with less.

“The panel will focus on not just current year financial planning but also the government’s plans to address continuing deficits, overall debt and access to capital markets, pension and related deficits and government guarantees.

“We look forward to a productive and robust debate on the new budget, and hearing how the government plans to steer the economy towards prosperity and sustainable economic growth, and help Bermudians cope with cost of living pressures.”

The Bermuda Chamber of Commerce Annual Budget Breakfast sponsored by PwC

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Published February 03, 2023 at 7:43 am (Updated February 03, 2023 at 7:43 am)

Chamber to host Annual Budget Breakfast

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