Premier of Bermuda and Minister of Finance, the Hon. E. David Burt JP MP welcomed to the Island the Consul General of France in New York, Mrs. Anne-Claire Legendre, during a visit to the Cabinet Office.

She was accompanied by France’s Honorary Consul to Bermuda, Nicole Haziza (also pictured).

A wide-ranging discussion between the two included Bermuda’s relationship with the European Union and the advent and future of blockchain technology.

Ministerial Statement by the Premier and Minister of Finance, The Hon. David Burt, JP, MP  

Mr. Speaker,
I am pleased to advise this Honourable House and the public of the Initial Coin Offering Regulations that have been published to supplement the Companies and Limited Liability Company (Initial Coin Offering) Amendment Act 2018.

The Ministry of Finance today reported on the 2017/18 First Quarter Fiscal Performance.

2017/18 First Quarter Fiscal Performance:

The headline numbers for the 2017/18 National Budget were: a revenue target of $1.04 billion; current expenditure of $1.11 billion, including debt service; capital expenditure of $67.5 million; and a projected deficit of $134.7 million.

Deputy Premier and Minister of Finance the Hon. E.T. Richards JP MP today advised that Standard & Poor’s (S&P) has affirmed Bermuda’s rating at A+ and maintained our outlook stable.

He said he welcomed the ratings notification on Bermuda published by S&P. 

Media statement from the Acting Minister of Finance, the Hon. Michael Fahy, JP.

Land Tax for the period 1 July through 31 December 2016 is due as follows:

Yesterday (Sept. 12) the Minister of National Security, Sen. Jeffrey Baron visited the offices of RenaissanceRe, Windward Place to discuss Bermuda’s strength, resilience and solid reputation as an offshore centre.

The RenaissanceRe meeting is an annual one which brings together the reinsurance company’s executives as well as its Legal, Regulatory and Compliance teams.

The Government of Bermuda is responsible for the integrity, objectivity and fair presentation of the financial statements of the Consolidated Fund. The Accountant General prepares the statements on behalf of the Minister of Finance in accordance with public sector accounting standards, using the Government's best estimates and judgement where appropriate.

Financial Comparison Report

The Ministry of Finance has released a Financial Comparison Report on the Airport Redevelopment Project.

The report provides additional information to the public about the financial characteristics of various procurement options available for the Airport Redevelopment Project (the “Project”), and the benefits of the procurement option selected relative to the most viable alternatives.