Dickinson: some capital projects to go ahead – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password

Dickinson: some capital projects to go ahead

Several capital projects, from renewable energy to infrastructure, can go ahead thanks to the Government's raising of $1.35 billion in bonds, Curtis Dickinson, the finance minister, said yesterday.

A host of capital projects in the 2020-21 Budget unveiled in February had to be sidelined after the Covid-19 pandemic scuppered revenues while piling on additional government expenses.

Mr Dickinson said the additional funds raised last month by the Bermuda Government could enable the projects to proceed.

He said the capital spending can proceed while keeping the overall target on track of bringing the budget back into balance in three years, when tourism is expected to be fully recovered, by 2022.

Mr Dickinson added that cruise ship visits were expected to resume next April.

Solar installations on six government buildings will save electricity, while improvements are to be made at facilities ranging from Westgate prison to bus depots in St George's and Devonshire, Marine and Ports on East Broadway, Sessions House, and the Botanical Gardens Visitor Centre.

Other projects listed by Mr Dickinson includes upgrades to Pembroke Canal, and a shoreside facility for the Government's fishing co-operative.

The Government's estimated deficit figure for 2020-21 has been projected to range from $275 to $315 million.

Today, Mr Dickinson said that the ministry's “best thinking” scenario, given the cost savings achieved, had the deficit at $225 million.

Finance minister Curtis Dickinson (File photograph by Akil Simmons)

You must be Registered or to post comment or to vote.

Published September 03, 2020 at 10:56 am (Updated September 03, 2020 at 10:56 am)

Dickinson: some capital projects to go ahead

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon