What the Budget Really Means for You

Every year, the government delivers a budget, but it’s not just numbers on a page. A Budget shows what a government values, who they fight for, and where they take the country over the next fiscal year.

How the Budget Process Works

First, the Finance Minister delivers the Budget Statement, laying out the government’s priorities. This is the culmination of months of work in each Ministry, identifying priorities and where savings could be made.

Then, the Opposition replies, usually with more of the same old “open the immigration floodgates, cut government workers’ jobs” rhetoric.

After that, over the next two weeks, every Ministry gets debated in what's called “The Committee of Supply.” That's an opportunity for every Minister to lay out the financial priorities for their Ministry and an opportunity for the Opposition to hold Ministers accountable and push their Party’s agenda.

Where We Stand Today

As it stands, Bermuda is turning a corner. We have a budget surplus, the second in two years. Jobs are up. Salaries are going up.

Yet, despite that, greed, global uncertainty, housing shortages and a cost of living crisis encircling the globe are causing too many of us to struggle and feel left behind.

That’s Why We’re Taking Action

• We are cutting duties on fuel, vehicle parts, and construction materials.

• Taxes on cell phones and private vehicle licensing fees are coming down.

• We’re investing in new ferries, better roads, a new asphalt plant, and modern waste facilities.

• We’re investing in healthcare reform: giving free annual doctor’s visits under FutureCare and HIP, making prescriptions more affordable for more people, and giving our seniors faster access to home care while guaranteeing greater access to personal care items for seniors in rest and nursing homes.

• We’re making building more affordable housing, investing in new schools and more scholarships, and strengthening the Bermuda Police Service.

Our Belief

We are doing all of these things because we believe that when our economy is doing well, it shouldn't just be the wealthy and privileged that come out ahead.

If there is just one hardworking Bermudian being left behind, we know that our work isn't done. So we will keep pushing for better workers’ pay, keep fighting against greed and exploitation, and stay focused on keeping our promise to you.

The path towards a fairer Bermuda for everyone isn't a fast or easy one, but Bermuda has a government today that is investing in what will help get us there, together.

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