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An 11 percent increase in the budget for the Environment, Planning and Infrastructure Ministry will help “bring order” to the telecommunications industry with the implementation of long-awaited reform, Minister Marc Bean said. He acknowledged that th...

The recession in Bermuda will last a fourth straight year through 2012, according to Government estimates of Gross Domestic Product (GDP). The National Economic Report of 2011, released yesterday, estimated Bermuda’s GDP would “decline in the region ...

The 2012 Budget offers a significant tax break for homeowners who want to refinance their loans to get a better rate. Hoping to promote competition among the banks, Government said it removed the stamp duty rate of 0.1 percent for borrowers switching...

The Tourism Ministry purse took a five percent hit in the 2012/13 Budget. The Ministry’s total budget was reduced from $30.245 million in 2011/12 to $28.7 million, a cut of around $1.5 million. The bulk of the budget cut will hit Advertising & Promot...

Financial Assistance was given a boost in yesterday’s Budget, but the Mirrors programme suffered another heavy cut. And the Sandys 360 programme received a $2 million grant to offset its construction costs. According to the 2012/13 Budget, funding ...

Job creation and training are key priorities as Government bids to revitalise the economy, Premier Paula Cox said yesterday. The Premier and Economy Minister Patrice Minors both gave updates on a number of job-creating programmes and hinted at more t...

Education Minister Dame Jennifer Smith hinted more preschools could switch locations as she aims to save cash without shedding jobs. The Education Ministry received a budget of $134 million for 2012/13, up by five percent on the $128 million it was i...

Government plans to raise the debt ceiling by $200 million to accommodate its soaring borrowing requirements, after revenue fell short of projections while expenditure was higher than planned. The legal limit on what Government can borrow will rise t...

The Budget crafted by Premier and Finance Minister Paula Cox is a “bridge to nowhere”, according to the One Bermuda Alliance. The financial plan will not put Bermuda back on the path to economic recovery or generate significant amount of jobs and it ...

The skies and seas were eyed as potential sources of revenue in Government’s latest Budget Statement. Charging a user fee for Bermuda’s commercial airspace could take in $18 million annually in just five years’ time, Premier Paula Cox told the House ...