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The international business community commended Government for keeping payroll tax levels unchanged but cautioned that the country needed to grow the sector and pay down its debt. “We believe there is an urgent need to formulate and execute substantiv...

Funding has been cut for two of the Island’s promotional groups on the front lines of attracting international business to Bermuda. Announced in the Government’s Budget statement yesterday, the Insurance Development Council (IDC) had close to 30 perc...

Senators and MPs alike improved their attendance rates at the Senate in the last budget year, but showed no improvement when it came to the House of Assembly. Figures in the Budget statement issued by Premier Paula Cox showed Government Senators had ...

Sandys 360 received a –$2 million boost in the 2012/13 Budget. The announcement that the charity would receive the capital grant was made in the House of Assembly by Premier Paula Cox. Sandys 360 reflects important community values and the grant woul...

The majority of the private sector is unlikely to take advantage of a plan to let companies and their employees suspend pension contributions for a year, according to the Bermuda Employers’ Council. Council president Keith Jensen said he did not beli...

Premier and Finance Minister Paula Cox presented a $1.08 billion Budget yesterday which she said rejects harsh austerity measures in favour of economic growth. The package involves a year-long suspension of Government payments into the civil servants...

The shipping industry and consumers alike will be hit hard by Government's decision to charge 25 percent duty on all goods imported for personal use, according to three of the Island's couriers. They criticised Premier Paula Cox's announcement in her...

Premier’s Paula Cox’s Budget was today criticised as a ‘business as usual’ election Budget by the Chamber of Commerce although it did praise moves to help the retail sector. Speaking on behalf of The Chamber, economist Peter Everson noted: “There wer...

The Budget fails to address major issues affecting the Island, according to Shadow Finance Minister Bob Richards. In a statement this afternoon, Mr Richards said: “We thought that they might have to raise the debt ceiling in spite of the fact that th...

The recession in Bermuda likely entered its fourth year in 2012, according to Government estimates of Gross Domestic Product (GDP). Estimated declines in GDP in the Government's latest economic figures confirmed the economy shrank for a third success...