Bermudians are looking for reasons why the Bermuda Government is so horny to perform its hostile takeover of Bermuda’s municipal corporations. Well here’s a candidate. The Auditor General’s scary graph shows the rapid growth in Bermuda’s Accumulated Deficit over the past 6 years. “The Accumulated Deficit represents the difference between the Consolidated Fund’s total liabilities [...]
Entries Tagged as 'Budget'
Manoeuvrability
January 31st, 2010 · Comments Off · Economy
The Budget will be delayed by 10 days to February 26 with Finance Minister Paula Cox today explaining that Government “wanted to give ourselves more manoeuvrability”. Huh? Now that’s a strange explanation. I read in this in four possible ways: Everyone would still be hung over on the 16th from Ewart’s celeb-stalking Valentine’s Love Festival; [...]
Tags:Budget
Spending Like a Drunken Sailor
January 27th, 2010 · 2 Comments · Accountability, Bermuda Politics, Economy
The Bermuda Government under the PLP provides a constant circus of conflict, allegations, and political machinations. That’s bad for Bermuda. It’s good for the PLP though, because it keeps people focussed on the scandal-du-jour instead of seeing the big picture. And that big picture is not pretty. Larry Burchall points out that Bermuda’s Net Public [...]
Tags:Budget
Leadership and Budgets
January 22nd, 2010 · Comments Off · Accountability, Bermuda Politics
I am sadly amused by the public opinion polls in the Royal Gazette last week: the Premier’s rating is in the basement, while the Minister of Finance receives a solid positive rating from the public. Sure, Paula Cox is dignified and well-liked … but let’s not confuse that with job performance. I suspect that her [...]
Tags:Budget
Debt per Person
April 14th, 2009 · Comments Off · Bermuda Politics
This letter to the editor by the author of “A Guide to the Economy of Bermuda” deserves some additional emphasis. In addition to the growing debt, Bermuda is racking up some serious deficits in its pension funds. These costs will eventually come home to roost with future generations of Bermudians. Note that his rough analysis [...]
Budget Debate Schedule
March 2nd, 2009 · Comments Off · Bermuda Politics
Given that Government seems to hate anyone to know what they are doing up in the House of Assembly, I post here the schedule of debate for the 2009-10 budget. If you are in Bermuda, the sessions are broadcast live on the radio (ZBM FM 105). If you are not, you are SOL as there [...]
Tags:Budget