Last night, the House of Assembly approved the 2026/2027 National Budget, delivering meaningful tax & fee reductions for workers and families while continuing to invest in services and infrastructure that support Bermuda’s future.
The Budget emphasises three main priorities: reducing daily expenses, putting more money in workers’ pockets, and continuing to invest in Bermuda’s infrastructure.
Key measures in the 2026/2027 Budget include:
- Lower payroll taxes for everyone, with middle-class Bermudians getting the largest tax reductions, so they can keep more of their hard-earned income.
- Lower duties on essential goods, helping to reduce the cost of groceries and everyday household items.
- Lower vehicle licensing fees, providing additional relief for families.
- Record investment in healthcare to provide expanded coverage for seniors, and to reduce waiting times at the hospital.
- Increased investment in public education, affordable housing, and public safety to strengthen communities across Bermuda.
- Significant reduction of the national debt, securing Bermuda’s finances for the future.
Premier and Minister of Finance, The Hon. David Burt, JP, MP said, “This Budget reflects our commitment to making life better for every Bermudian. It is focused on easing the cost-of-living pressures many Bermudians are feeling. It lowers taxes for workers, reduces everyday costs, and continues investing in our infrastructure while expanding the public services that serve our community.”
The Premier also reiterated, “The Government’s view that economic progress must translate into real benefits for the people of Bermuda. Our goal is simple: when Bermuda’s economy grows, Bermudians should feel that progress in their everyday lives. This Budget offers practical relief today while continuing to build a stronger and more secure future for our country.”
The Government thanks Members of Parliament for their input during the Budget debate and looks forward to implementing the measures included in the 2026/2027 Budget over the coming year.