Log In

Employers and unions gave their support to yesterday’s Budget, welcoming slashes to employment costs through a two percent reduction in payroll tax, from 16 percent to 14 percent. In a first-time move, Premier and Finance Minister Paula Cox met with ...

More than 1,400 jobs were lost in Bermuda last year as companies trimmed their workforces in response to the continuing recession. According to Government data, this means that more than 2,000 jobs have been lost over the two years since the 2008 emp...

As expected when the new Muncipalities Act was passed last year, the Corporations of Hamilton and St. George’s have lost their right to directly collect wharfage fees from ships using their docks. But most of the projected $6.215 million that they w...

This year’s Budget delivered on widespread expectations for cuts in one of Government’s most contentious expenses: consultants. The combined cost of consultants for 2010-2011 was $43.5 million, $6.6 million less than in the previous year. Now it will...

Cutting payroll tax may help to staunch job losses but won’t necessarily create new employment, business leaders warned yesterday. They welcomed the decision by Premier and Finance Minister Paula Cox to drop payroll tax to 14 percent after increasing...

Two airlines intend to reduce the number of flights they offer to Bermuda in the coming fiscal year it was announced yesterday. Minister of Transport Terry Lister said WestJet, which flies out of Toronto, and JetBlue, which flies out of New York, hav...

Finance Ministry forecasters do not expect Bermuda’s economy to emerge from recession until the middle of next year. The grim prognosis came in the National Economic Report of 2010, which estimates that Bermuda’s gross domestic product (GDP) fell fou...

Whether they were posted on our website stories, our Facebook pages, or our Follow It Live site, as we reported live on the Budget we were inundated with comments yesterday. In their own words, here is a sample of some of those comments. Congratulat...

The Police budget was cut by $7.5 million yesterday, receiving 11 percent less funding than last year. Minister of National Security David Burch pledged that public safety would not be compromised by the cuts. However, the news was greeted with conce...

The cost of interest alone on Bermuda’s spiralling public debt equates to $191,780 per day. That is according to the Budget statement released by Premier and Finance Minister Paula Cox yesterday, which shows that Government borrowing has surged past ...