Bermuda’s financial industry sector express confidence in Budget Statement

The Government today welcomed the collective endorsement of the 2024/25 Budget Statement by leading business entities, including the Association of Bermuda Insurers and Reinsurers, Association of Bermuda International Companies, Bermuda Business Development Agency, Bermuda Chamber of Commerce, and Bermuda International Long-Term Insurers and Reinsurers.

In their statement, these key community stakeholders expressed their support for the government achieving the first balanced budget in over 20 years. Additionally, they praised the strategic empowerment of the Tax Reform Commission, both in its role to decrease business costs and in ensuring a consultative, transparent approach to implementing the Corporate Income Tax.

Premier and Minister of Finance, the Hon. David Burt welcomed the support saying, “As a Government committed to working with stakeholders to grow our economy, enhance Bermuda’s competitiveness, and further extend our reputation as a business-friendly jurisdiction, the support of our partners is important. Today’s statement of support demonstrates that not only do we have a shared vision for Bermuda, but we are working collaboratively to deliver on that vision.”

As a reminder the public can read the Budget Statement here:

The public can watch the Premier’s House of Assembly Budget presentation here: Premier – House of Assembly Feb. 16, 2024

And to see the Premier’s post Budget press conference presentation, visit: Premier – Post Budget Press Conference – Feb. 19, 2024

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