Budget set for February 11
Premier Paula Cox will deliver the National Budget Statement on February 11.Few details about what the Budget will entail have been revealed although Premier Paula Cox vowed to cut Government spending by $150 million in the 2010 Throne Speech.So far Government has said little about how it will make the cuts; whether programmes will be cut, or services will be reduced, or both.The Bermuda Love Festival, which cost $150,000 a year, has been cut. The Bermuda Music Festival, which cost from $800,000 to $3 million to stage, is also “under review”.Public Works staff has also agreed to cut their overtime pay in order to save Government $1.5 million a year.Shadow Finance Minister Bob Richards has said the public should reject any Government plan that ‘meets' its $150 million cutback by cancelling or postponing capital projects that have not yet broken ground.“If it is serious about curbing its spending habits, Government must show real reductions,” he said.After the Friday Budget announcement in the House of Assembly Ms Cox will speak on it further at a Chamber of Commerce breakfast on February 14 at the Fairmont Hamilton Princess from 8am to 10am. The Opposition will give its reply to the Budget on February 12.