Policy, Planning & Management
The Policy management unit provides overall direction and management of the Ministry Headquarters and supervisory oversight of the departments in the Ministry of Finance. Undertakes strategic economic planning, manages the Ministry's public relations and organizes the co-ordination, review and development of economic and financial policy.
Economic & Financial Intelligence
This unit provides research and analysis of economic and financial conditions to facilitate sound decisions on public policy and fiscal management. Responsibilities include economic forecasts, economic modeling, projections of GDP and the development of key economic indicator. Analysis and commentary on economic and financial statistics are provided, and an annual and mid-year review and outlook are produced. The unit also manages the relationship with credit agencies and government lenders.
Fiscal Planning & Control
The Fiscal Planning and Control unit is primarily responsible for the management, collection and collation of Consolidated Fund budget data, the monitoring and control of overall government expenditures (i.e. both Capital and Current Account) and the achievement of government revenues. The unit is also tasked with the responsibility of the review and development of the government's annual Capital Expenditure Plan together with the overview and control of public debt. In addition, the unit is also responsible for the roll out of the Zero Based Budgeting initiative throughout government.
General Nature of Activities
The Regulatory Unit assists the Financial Secretary and the Minister of Finance by providing policy advice, governance, and administrative services on all financial services regulatory policy matters of the Government and involves a close working relationship with a wide range of stakeholders.
Scope of Activities
The scope of the Regulatory Unit's activities is as follows:
Providing policy advice to the Financial Secretary and the Minister of Finance on European Union financial services regulatory policy initiatives.
- Support for the Financial Secretary and the Minister of Finance in coordinating the financial services regulatory policy initiatives of the Government.
- Overseeing the Ministry of Finance component of the legislative program for the Bermuda Monetary Authority.
- Providing policy advice to the Financial Secretary and the Minister of Finance on anti-money laundering policy initiatives.
The Treaty Management unit is responsible for negotiating and administering agreements related to Tax Information Exchange with member countries of the European Union, G20, Organisation for Economic Cooperation and Development and white listed jurisdictions and other key countries, as well as relationship management regarding tax matters.
The departments that fall under the responsibility of the Ministry of Finance Headquarters are:
The Minister of Finance also has responsibility for the National Pensions Commission and the Bermuda Monetary Authority.