Op-Ed By Neville Tyrell JP, MP

This year’s Budget is more than numbers:

• It’s about fairness in action.

• It’s about care, and compassion.

• It’s about working towards a Bermuda where everyone benefits.

Healthcare at the Forefront

• Free Annual Checkups: For HIP and FutureCare members, allowing more Bermudians to catch problems before they become emergencies.

• Enhanced Prescription Coverage:

  • HIP: From $1,000 to $3,000.

  • FutureCare: From $3,000 to $5,000.

• This means more Bermudians can access the medicine they need, easing the financial burden on families across the island.

Investing in Housing and Infrastructure

• Housing: 30 new units to be constructed this fiscal year.

• Road Repairs and Infrastructure: Significant investments to improve island connectivity.

Empowering Education

• Nearly $10 million increase in education funding.

• $1.8 million allocated for post-secondary education support through scholarships and awards.

Reducing Everyday Costs for Bermudians

• Fuel Duty Reduction for Power Generation: Total reduction of 80% in two years, saving the average household about $300 annually.

• Base Land Tax Cut: 50% reduction for homeowners and renters in 2026.

• Car Licensing Fees: Cut by 10%.

• Mobile Phone Tax: Reduced by 50%.

• Customs Duty on Building Materials: Reduced to lower home construction costs.

• Vehicle Parts: Customs Duty eliminated.

• Duty-Free Allowance: Increased from $200 to $300 — the first increase since 2012.

Enhanced Support for Seniors and Families

• Home Care Coverage: Immediate support for new HIP and FutureCare policyholders with the elimination of the 12-month waiting period for home care.

A Balanced Economic Strategy

Our economic strategy has positioned Bermuda for a second consecutive budget surplus, enabling us to:

• Repay debt.

• Build reserves.

• Invest in our future, even amidst global uncertainty.

A Commitment to Fairness

We understand that while the economy is thriving, too many Bermudians feel left behind. This Budget is our commitment to sharing success with everyone by:

• Reducing taxes and fees.

• Addressing key community concerns, including cost of living, housing, healthcare, and road conditions.

Where Our Heart Is

This Budget may not solve every problem, but it clearly shows where our heart is: with families, with our children, and with the people who need us most.