Shadow Minister of Home Affairs Michael Fahy and Shadow Minister of Finance Douglas DeCouto welcome the news out of the United States that massive port dues will not apply to short sea routes, which would include Bermuda.
Mr Fahy says, “When the port fees were first proposed by the Trump Administration there was immediate concern due to the massive costs that this would have added to an already unsustainable cost of living for all Bermudians.
We are aware that many parties were involved in lobbying the US Government to roll back the proposals. The OBA is grateful for the advocacy of all partners in these efforts and the discussions we had with some of those partners to help all Bermudians.”
Dr DeCouto adding: “We proposed that any budget surplus and sums to be realised from the Corporate Income Tax be diverted to offsetting the proposed punitive tariffs to ensure Bermudians would not be hit. This idea is not taken off the table since as we have seen with other matters emanating from the US Government nothing is certain. We hope that this fund is never required but we will keep proposing helpful solutions to assist all Bermudians.”
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