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Credit rating agency Moody’s has welcomed Government’s progress in cutting its deficit. Moody’s said Government had reduced its target for current expenditure cuts from 5 per cent to 3.5 per cent after it was unable to renew its cost-cutting furlough...

Business leaders are more likely to hire extra people and invest in their businesses this year as confidence rises. But caution over the future remains, with particular concerns about the political environment and the need for business growth and inv...

A major survey of business confidence in Bermuda is set to be unveiled tomorrow to an invited audience. The survey, sponsored by HSBC and carried out by Total Research Associates, invited nearly 400 business people on the island to take part. Mark Wa...

Minister of Finance Bob Richards has defended his proposed introduction of a 5 per cent services tax next year. In his 2016-17 Budget statement yesterday, the Deputy Premier briefly detailed his plan for a general services tax, which is scheduled to ...

In some ways, the Budget is a marvel of concise brilliance. In other ways, it sidesteps the most pressing structural issues of our time. To the first point: the finance minister did what he had to do. He has taken decisive steps to reduce the defic...

Finance minister Bob Richards warned yesterday that an international crackdown on offshore jurisdictions could wreck the economies of the developed world. The stark warning came in the Budget speech as Mr Richards said that an attempt spearheaded by ...

David Burt, the Shadow Minister of Finance, has warned that local businesses will end up closing as a result of the tax increases contained in the Budget. Speaking shortly after the conclusion of the 2016-17 Budget statement by Bob Richards, the Mini...

The island is likely to face a hike in taxes when Bob Richards, the Minister of Finance, presents the 2016/17 Budget this morning in the House of Assembly. That assessment has come from observers ranging from Kendaree Burgess, the executive director ...

Falling oil prices are making investors nervous. Global equity markets have trended down with energy prices lately to the point where the broader stock market is trading almost in lockstep with crude. According to a recent Wall Street Journal article...

Bermuda’s inflation rate rose to 1.8 per cent in December, with an increase in gasoline prices at the pumps and the cost of wine among the factors impacting the cost of living. The inflation rate was up 0.4 per cent on the previous month. Although ga...

Last week we wrote about our happy Valentine fellow blissfully leaving the Rock and heading to America to be with the perfect lady in the land of opportunity with its fabled streets of gold and bluer skies. Destiny is so full of promise, but it is al...

While out canvassing recently, a Bermudian couple asked us to come in and have a conversation with them about the hikes in the land tax proposed by finance minister Bob Richards the week before Christmas. The husband presented a spreadsheet that show...