The Department of Social Insurance would like to advise the public that as a result of the temporary office move to Global House in May,  there is still a possibility that not all new pension applications were processed in time for the August 15, 2016 payment.

New applicants for benefits who submitted prior to May 31, 2016, and whose 65^th birthday was on or prior to that date and who did not receive a payment on August 15, 2016, should contact the Department at 294 9246 to allow for an expedited payment.

I was pleased to hear that People’s Campaign have finally acknowledged that Bermuda really does need a new airport.

However, placing an infrastructure project that will benefit all Bermudians plus our leisure and business visitors in the context of slavery is unfortunate, misplaced and deliberately inflammatory.

I wonder if those Bermudians who will leave the ranks of the unemployed to return to the dignity of honest work will consider themselves enslaved.

The Hon. Everard T. Richards Ministerial Statement:

Mr. Speaker, I am pleased to be able to inform the House of the highlights of my fourth visit to Brussels and Paris as Finance Minister. I was accompanied by Alastair Sutton; Bermuda’s Advisor in Brussels’ and part of our “competent authority” there.

The Deputy Premier and Minister of Finance the Hon. E.T. Richards JP MP today advised that Moody’s Investors Service has downgraded Bermuda’s rating to A2 from A1 with a stable outlook.

”Given the momentum we continue to gain in reducing the deficit, as outlined in the government medium-term expenditure framework, it is disappointing that Moody’s has chosen to downgrade Bermuda,” the Minister said.

The ratings agency stated that the “key drivers” of the downgrade were the following:

Deputy Premier and Finance Minister E.T. Richards JP MP had a front row seat at key meetings of the Anti-Corruption Summit 2016 in London today, as UK Prime Minister David Cameron pressed an ambitious agenda of global change.

Meanwhile, the Deputy Premier articulately and firmly told UK journalists why Bermuda is not willing to lead the way in making public the details of the beneficial ownership register of companies that the island has maintained since 1939.

The Ministry of Finance announced today that the Government will continue cost containment measures to tackle the annual deficit. The Government-wide freeze on hiring will be extended through the 2016/17 fiscal year, after first announced for the 2015/16 year.

Deputy Premier and Minister of Finance, the Hon E T Richards JP MP said today that the Bermudian public should not be deceived by innuendo, false allegations and political rhetoric over the airport development project.

Hamilton, Bermuda: Minister of Finance the Honourable E.T. Bob Richards today announces that last week Bermuda signed its Declaration to the Multilateral Competent Authority Agreement for the exchange of Country by Country Reports (“CbC”) after a long period of consultation with industry which began last year. In doing so, Bermuda adopts the OECD's CbC reporting regime, applicable to multinational enterprises ("MNEs"). 

The Government published the Airport Development Agreement (ADA) on the parliamentary website last year. More recently, much has been made about the absence of specific schedules from the published material.

The schedules include commercially sensitive information that we cannot release while we are still in negotiations with CCC and Aecon. Parts of the ADA, which I signed last summer, bind us to keep such sensitive information confidential. This is for the benefit of all parties concerned.

Here you will find information relating to the 2016/2017 Budget.

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