Bermudians will have to wait about a week longer than normal this year to find out how the Budget will hit their back pockets.

Finance Minister Paula Cox will deliver the National Budget Statement for 2010/11 in the House of Assembly on Friday, February 26 — the latest it has been given in the last six years.

The Deputy Premier insisted yesterday that it was simply a result of Government wanting to give itself "more manoeuvrability" during the testing economic times.

But members of both opposition parties said they were expecting the Budget on February 19 and suggested the "delay" was a worrying indicator of Government's difficult financial position.

Shadow Finance Minister Bob Richards said: "I'm not sure what it implies, quite frankly. We do know that this is going to be an extremely difficult Budget for the Minister, economic conditions being what they are.

"Maybe they just need an extra week to try to get their ducks in a row. From our standpoint, it doesn't make any difference to us.

"The only thing that I think is pertinent is that the Government's fiscal year ends on March 31. All of the debates and everything should be finished by then. I'm not sure if they are going to be."

Michael Fahy, from Bermuda Democratic Alliance, said: "It is very strange that the Budget has been pushed back by a week. We certainly would like to know why.

"We do have some concerns that this could stifle opposition scrutiny since the Budget must be passed in Parliament prior to the end of the first quarter of 2010.

"This delay does little to instill confidence in the Ministry of Finance's ability to resource and deliver Government's strategic objectives sustainably and in the public interest or ensure that public money is safeguarded at all times and used appropriately, economically, efficiently and effectively."

Government spent $77 million more than it budgeted for in 2008/9 and collected $32 million less in revenue than expected — with the Island's fiscal deficit said to be widening.

Ms Cox said earlier this month that Government was mindful of the "sobering economic reality" and disciplined on how priorities would be funded when it set the 2009/10 Budget, as it has been in setting the forthcoming Budget.

The Deputy Premier told The Royal Gazette yesterday that it was her prerogative when the Budget should be delivered.

"There is no statutory prescribed time for when the Budget is delivered as long as we provide for it to be passed prior to April 1," she explained.

"We are confident that there will be sufficient time to have the Budget passed and the money bills in time for April 1.

"These are challenging times and the Bermuda Government does not take this process lightly. Given the economic environment and the exigencies it presents, we wanted to give ourselves more manoeuvrability."

She said the Budget debate in the House on the estimates of revenue and expenditure would begin on March 8 and continue on from March 10 to March 19.

Unless the House decides otherwise, a maximum of 42 hours can be spent on the discussions, with the official Opposition, the United Bermuda Party, able to divide the time as they choose on the various ministries and departments.

The debate typically takes place over six separate seven-hour sessions.

Once MPs have approved the statement and passed the Appropriation Act, the Senate debates the Budget, with a maximum of 22 hours allowed for their detailed discussion on the different headings.

Senators have no power to alter the Budget but need to have it approved so it can pass into law by March 31.

Ms Cox said it was ironic that there were complaints about the delay this year, when the UBP grumbled several years back because the House did not sit before the Budget and so MPs were unable to debate and pass legislation.

This year, the House of Assembly resumes on February 5, meaning at least three sessions will take place before the Budget.

The Minister added: "When the National Budget Statement is read on February 26, it will be a Budget that is appropriately suitable for and sensitive to all our key constituents — i.e. community and business — while recognising the need to be in a position to continue to provide the level of public services that the public expects."

Ms Cox delivered last year's Budget on February 20 and for the previous four years it was given on February 15, 16, 17 and 18, respectively.