The Bermuda Government 2008-9 Budget has been released. At 36 pages (down from 45 last year and 99 the year before that), it continues the trend of providing less information about Government finances.
On the positive site, unlike last year, this budget actually includes some breakdowns of the numbers … although the detail is often cursory. No information is given on Government staffing.
Expenditures will be $1.1 billion, up a (cough) mere $100 million from last year. Revenues will be only $985 million, so Government will raise taxes and borrow more.
They plan to seek an increase in the statutory debt ceiling from $375 million to $550 million. Government’s current borrowings are already $349 million (before sinking fund), so they’ll burn through that additional sum very quickly.
And for you fans of transparency, the budget allocation for the Government Auditor will increase less than 1%, while that of the much larger Cabinet Office of the President will increase by 33%. Ba-da-bing!
Global Voices Online » Bermuda: Budget Review // Feb 18, 2008 at 8:36 am
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