{"id":155912,"date":"2022-07-16T14:31:52","date_gmt":"2022-07-16T18:31:52","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=155912"},"modified":"2022-07-16T14:31:52","modified_gmt":"2022-07-16T18:31:52","slug":"relief-package-for-bermuda","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/relief-package-for-bermuda\/","title":{"rendered":"Relief package for Bermuda"},"content":{"rendered":"
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Premier David Burt unveiled a US$15 million economic relief package in parliament on Friday to help Bermuda\u2019s working families hit by rising prices.\u00a0CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.<\/strong><\/p>

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Burt, who is also Minister of Finance, said financial support will be given to people with children in public schools and LED light bulbs will be bought by the government and handed out to households to reduce energy bills.<\/p>\n

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Payroll tax rebates are expected to be offered to 75 per cent of the island\u2019s workforce and more money will be made available to help cover food costs for families in receipt of financial assistance.<\/p>

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Burt said the relief package was made possible by a controversial travel authorisation form, which tourists and locals have to fill in before arrival on the island at a cost of $40.<\/p>

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The form, which\u00a0initially cost travellers $75, generated an estimated $14 million for government\u00a0coffers last year and is budgeted to bring in some $22 million during the current financial year. Opposition party\u00a0legislators have called for it to be scrapped.<\/p>\n

\u201cBermuda is an affluent society. But that affluence has created a society in which economic pressures make it increasingly difficult for many hard-working people to keep up.\u00a0Legitimate aspirations are frustrated by runaway costs of basic items which are necessities for life in this community.\u00a0The high cost of living creates circumstances which sometimes defy economic theory but create a reality which the government has a responsibility to address,\u201d said Burt as he addressed Parliament.<\/p>

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He added: \u201cI am pleased to inform this Honourable House that part of the relief package will include a payroll tax rebate for workers making less than $96 000, which makes up 75 per cent of Bermuda\u2019s workforce.<\/p>\n

\u201cIndividuals earning less than $60 000 annually will receive a $250 rebate and those earning between $60 000 and $96 000 will receive a $100 rebate.<\/p>

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\u201cMany will say this relief package is not enough, and as a government \u2013 we get it; but it is also critical we balance being fiscally responsible while providing relief.<\/p>

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\u201cThis package is not perfect but it is a start and will make a difference in the lives of many Bermudians who want to know the government is on their side and has their best interests at heart.\u201d<\/p>\n

The Premier added: \u201cIt is important to reiterate that these relief items would not be possible without the increase in revenue received from the travel authorisation and tourism-related taxes.\u201d<\/p>\n

Burt earlier announced a 2.75 per cent rise in pensions\u00a0for the island\u2019s 10,000 senior citizens, backdated for 12 months.<\/p>\n

The increase will take basic contributory pensions from $1 077.14 a month to $1 106.75, and maximum contributory pensions from $1 564.18 to $1 607.19 per month.<\/p>\n

Bermuda\u2019s\u00a0current national debt stands at $3.1 billion. Youth unemployment is running at 30 per cent.<\/p>\n

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Premier David Burt unveiled a US$15 million economic relief package in parliament on Friday to help Bermuda\u2019s working families hit by rising prices.\u00a0CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES. Burt, who is also Minister of Finance, said financial support will be given to people with children in public schools and LED light […]<\/p>\n","protected":false},"author":3,"featured_media":133598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-155912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured"],"yoast_head":"\nRelief package for Bermuda - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/relief-package-for-bermuda\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Relief package for Bermuda\" \/>\n<meta property=\"og:description\" content=\"Premier David Burt unveiled a US$15 million economic relief package in parliament on Friday to help Bermuda\u2019s working families hit by rising prices.\u00a0CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES. 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