The Premier was on the news the other day downplaying accusations of corruption and stating something to the effect that “there is no-one who will ever be able to unearth any corruption that is linked directly to me, and if they do, they put it there.” What a careful choice of words. The newscaster dryly [...]
Entries from March 5th, 2010
Employment Scene
March 4th, 2010 · Comments Off · Economy
The PLP must think that Bermudians can’t do math, as they try and paint a happy face on the choking economy that lies at their feet. Thus, when folks like Larry Burchall start pinning them down on the numbers, they have little option but to unleash the Minister for Slander and Propaganda. In my previous [...]
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Who Pays The Bills?
March 3rd, 2010 · Comments Off · Bermuda Politics, Economy
If you ever had a doubt regarding the importance of international business to Bermuda, look at the following chart which shows economic activity in Bermuda for the last 5 years. (It is excerpted from the National Economic Report). The only areas that show significant growth are directly related to the international business sector … accounting [...]
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Something Smells
March 2nd, 2010 · 1 Comment · Economy
The PLP’s proposed 2010 budget is inept, inadequate, and inane. It is an administrative eructation (see I’m starting to talk like Paula Cox!!) It does not attempt to restrain Government’s lavish spending, or even make a believable case that better financial controls will be put in. It continues the trend of reducing the information available [...]
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Sinking, Saved, Sold
March 2nd, 2010 · Comments Off · Economy
Butterfield Bank has announced a $213 million loss for 2009, the departure of its CEO, and a huge external investment of $550 million. No surprise given the hair rising rumours that have been floating around in recent weeks (reflected in the steep BSX share price decline). The Minister of Finance tries to put a happy [...]
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Your Pocket
March 2nd, 2010 · Comments Off · Bermuda Politics, Economy
In its disappointing 2010 budget, the Bermuda Government has raised payroll tax by 2%, to be shared equally by the employer and employee. That means that the employee’s tax just went up by 21%. The employer’s tax (they pay a larger amount than the employee) just went up by 9%. The average income in Bermuda [...]
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