Premier says it’s “nonsense” to suggest PLP Government shouldn’t take credit for International Business growth
Premier David Burt asserts that the success of the International Business sector can legitimately be associated with the work of the PLP government.
He also cites the PLP’s payroll tax amendments as a driving force of their budgetary success.
At today’s Chamber of Commerce Budget Breakfast, the Premier and Finance Minister presented the highlights of the new budget to Chamber members, saying “we have four years of strong GDP growth. This GDP growth has exceed the expectations on every given year.”
“International business remains our economic engine, supported over 5000 jobs, and delivered $2.9 billion in foreign currency receipts.”
As the Premier opened for questions, Arthur Wightman, Teritory Leader for Event sponsor PwC, welcomed the budget surplus – a revised estimate of 19.7 million for last year, and a projected 43.3 million this year.
He asked what the Premier would summarize as the most critical decision that led to reaching a surplus, to which Premier Burt responded, “the very controversial changes to the payroll tax, which was the subject of controversy when I was here two years ago. But, that was it.”
“We increased the rates of payroll tax for high earners, while reducing payroll tax for 86% of workers inside the economy.”
Indeed, payroll tax, the single largest contributor to Government revenues for 25 years, spiked even more between 2021 and 2024.
Furthermore, International business – already a sector with comparatively high wages – has seen total annual employment income increase by $453 million dollars in the same period.
Now representing more than 40% of total employment income in Bermuda, International Business is a massive contributor of payroll tax.
Elsewhere in his comments, the Premier rejected any attempt to not correlate I.B.’s success with his Government’s policies.
“There’s another argument, he said, “…the government shouldn’t take credit for what international businesses are doing. It’s a nonsense.”
“It’s an absolute nonsense because I can promise you, if international business was not growing, it would be people shouting from the rooftops – it’s David Burt and the PLP’s fault. So you can’t have your cake and eat it too. It’s either one or the other. And it comes from sound policymaking.”
Answering questions from Gary Foster Skelton, the Premier subsequently said the PLP has created a more stable business environment than the OBA.
GFS: “What’s the nuance here of what government can claim and can’t? Do you manage the house, make it attractive and people want to do the business here… but then it’s up to them to do the business and make the money?” Premier Burt: “I don’t think there’s any nuance. This is total economic management from the local economy to the international economy. And we do not have growth in international business unless people have confidence in the government to make those long term investments inside of a jurisdiction… And we saw a different sense when there was a lack of confidence and falling numbers of jobs in international business under the former government, because of haphazard policymaking, because of conflicts in the public… there were people marching in the streets… People want to be in a space where they can operate stably. If you have a space where there is massive social disruption, where you are voiding contracts in Parliament – private contracts that are established… Those are not the things which set confidence for business growth.”
Chamber of Commerce President – “We cannot build a future on nostalgia”
Photo: Chamber of Commerce President Marico Thomas.
‘Bermuda is anoher world’ is a phrase that charms – but also scares – Chamber of Commerce President Marico Thomas.
Pointing to how Bermuda is being impacted by world events, Mr Thomas told attendees at today’s sold-out Budget Breakfast , “What we want, how we go about getting it, and how we define success, have all changed.”
“We must better understand how global events, geopolitics, and shifts in technology, not only affect our cost of living, and cost of doing business, but also our social cohesion, access to opportunity and overall stability.”
Speaking to a packed Hamilton Princess Ballroom, Mr Thomas said the slogan of their recent AGM, ‘Fighting Together for a Stronger Economy’, is not a rallying cry for just business, or a statement of combat against the Government.
“It’s an invitation”, he said, “a declaration of belief, of intention, and of resolve. This is our fight together.”
Mr Thomas previewed the Chamber’s formal response to the Bermuda Budget 2025/26, applauding the Government for a balanced budget and the ongoing introduction of the Corporate Income Tax, while citing concern over the increase in net debt and uncertainty over debt repayment.
He also highlighted issues in the restaurant and retail sectors, even as Government may have made it easier to shop overseas.
He said, “retailers and wholesalers – who employ thousands – continue to face sustained pressure from declining volumes and tightening margins.”
“While the increase in the personal duty exemption may bring welcome relief to consumers, it also underscores the need to support local businesses navigating an already challenging environment.”
Mr Thomas also highlighted what he calls a “tax imbalance” in the restaurant sector.
“Takeout and counter-service establishments are taxed more heavily than full-service dining restaurants”, he says. “The industry would benefit from an updated and equitable classification system that reflects today’s operating model.”
Mr Thomas said the Chamber’s response to the Budget, to be released in the coming days, will also touch on immigration reform, healthcare funding, workforce development, and addressing the housing shortage.
This morning is the first event of the Chamber’s Calendar…, and also marks the beginning of a repositioning for the Chamber. That repositioning began just days ago at our AGM, where we introduced the theme…: “Fighting Together for a Stronger Economy.” And we embraced it fully – complete with boxing gloves and robe. That was a fun and heartfelt moment for me, because my father, who some of you will know…, was Bermuda’s middleweight boxing champion. Now, I never saw him fight—and there is no way I’d ever get in that ring myself…, but I serve this community with the memory of my parents whose small businesses were the source of income and for our family. The Chamber is here, “Fighting Together for a Stronger Economy” to give this same opportunity to as many other families as possible. Our slogan is not a rallying cry for just business, nor is it a statement of combat against the government—or anyone else. It’s an invitation…, a declaration of belief, of intention, and of resolve. This is our fight together. The Chamber is committed to working with anyone, and everyone focused on building a better Bermuda. Achieving a strong economy and supporting successful employees, will require open dialogue and a shared understanding across the entire community. And this part…, this part needs to be heard very carefully: it’s not just Bermuda that’s changing—it’s the world. And Bermuda is being changed by the world. We are subject now, more than ever, to world events, which significantly impact our island economy and how we live. Some of us might remember the words: “Bermuda is another world.” I love the warmth and romanticism in that phrase – but…, we cannot build our future on nostalgia. Tourism no longer drives the economy as it once did. That was before the internet, before the explosion of global tourism competition, and before International Business became Bermuda’s primary economic engine. Today, everything is different. The phrase “Bermuda is another world” still warms my heart— but if i’m honest, it also scares me to my core. What we want, how we go about getting it, and how we define success, have all changed. And many of our businesses…, our families, and our neighbours are simply…, not… ready. We must better understand how global events, geopolitics, and shifts in technology, not only affect our cost of living, and cost of doing business, but also…, our social cohesion, access to opportunity and overall stability. That’s why this event—and this conversation—matters. We, as a business community, truly value the opportunity to engage with the Honorable Premier and Minister of Finance in this budget breakfast. In just a moment, he will deliver his 2025/26 Budget presentation and take your questions. As we look forward to that discussion, I’d like to offer a brief overview of the Chamber’s formal response to the budget, which will be released in the coming days. First, there has been significant progress. The Government’s expected return to a budget surplus—the first in 21 years—is a major milestone. The introduction of Corporate Income Tax is also an important step toward fiscal reform and international compliance and for this, the government should be applauded. At the same time, there is more to understand and discuss. The increase in net debt despite the surplus, the downward adjustment in CIT revenue forecasts, and the shift from full to partial bond repayment all warrant further clarity. We also echo the following concerns of our members Retailers and wholesalers—who employ thousands—continue to face sustained pressure from declining volumes and tightening margins. While the increase in the personal duty exemption may bring welcome relief to consumers, it also underscores the need to support local businesses navigating an already challenging environment. The Chamber remains concerned about the potential impact on the variety, value, and availability of goods available on island. In the restaurant sector, we highlight a long-standing tax imbalance—where takeout and counter-service establishments are taxed more heavily than full-service dining restaurants. Definitions that once served a purpose are now creating confusion and unfairness within an industry and society that have moved on. The industry would benefit from an updated and equitable classification system that reflects today’s operating model. Beyond sector-specific concerns, our response will also touch on broader challenges such as immigration reform, healthcare funding, and workforce development. All Interconnected issues which play a role in shaping Bermuda’s economic performance and our quality of life. Lastly, following the Chamber’s deep dive into housing at our recent AGM, we welcome the attention the issue received in this Budget Statement. We look forward to continued dialogue with government and community leaders across Bermuda to advance practical, collaborative solutions to this pressing national challenge. At the Chamber, our aim is not simply to react—but to contribute constructively to Bermuda’s national dialogue. We do this by offering data analysis, insight, and partnership. We appreciate the Minister’s willingness to engage—not only today, but throughout the year—and we welcome the opportunity to ask questions and work together toward shared outcomes. Because at the end of the day, fighting together for a stronger economy isn’t just a slogan—it’s our commitment. One that we carry forward in every conversation, with every partner, and on behalf of every member we represent.
Women claim 3 points after winning first match in Mexico. Men draw with hosts to claim 1 point
Bermuda’s Men’s and Women’s National Field Hockey teams have both launched their campaigns in the crucial Central American and Caribbean (CAC) Games Qualifying Tournament with impressive opening performances. The tournaments, vital for securing a coveted spot at the CAC Games, have seen both Bermudian sides demonstrate their competitiveness on the international stage.
The Bermuda Men’s team faced a daunting opener against the host nation, Mexico. Despite the home advantage for the Mexicans, Bermuda’s resilience and tactical discipline shone through. In a surprising result, the Bermudian men held Mexico to a 2-2 draw, securing a valuable point away from home. The goals for Bermuda came from Jordache Rawson and Hemijah Bean, showcasing their attacking threat against a traditionally strong hockey nation. This unexpected draw will undoubtedly provide a significant boost to the men’s team’s confidence as they navigate the remainder of the qualifying tournament.
Meanwhile, the Bermuda Women’s team also enjoyed a positive start to their qualifying campaign, facing Guatemala in their opening fixture. The Bermudian women delivered a controlled and effective performance, ultimately securing a 2-0 victory and three valuable points. Goals from Georgia Harris and Jessica Hollis were enough to seal the win, highlighting Bermuda’s attacking prowess and defensive solidity. This clean sheet victory provides a strong foundation for the women’s team as they aim to progress further in the CAC Games qualifiers.
Fitting finale for the IQUW Bermuda Open Squash Championships
The Bermuda Squash Racquets Association Club witnessed a fitting finale to the IQUW Bermuda Open Squash Championships, with packed stands treated to two compelling title deciders. The Ladies Final saw Malaysia’s top seed, Aira Azman, assert her authority with a commanding straight-sets victory over Egypt’s second seed, Hana Moataz. Azman’s clinical performance, wrapped up in just 27 minutes, saw her secure the championship with scores of 12-10, 11-3, and 11-6, demonstrating her status as the tournament’s leading player.
The Men’s Final, however, unfolded as a captivating contrast in intensity and duration. Top seed Miguel Rodriguez of Columbia and Egypt’s second seed, Mohamad Zakaria, engaged in an epic 110-minute marathon that kept fans gripped until the very last point. After a seesaw battle that saw Rodriguez initially take the lead, Zakaria displayed incredible resilience, battling back from 2-1 down to clinch the title 3-2. The Egyptian’s hard-fought victory came after scores of 8-11, 11-7, 11-6, a marathon 15-13 fourth game, and finally an 11-4 triumph in the deciding set.
The IQUW Bermuda Open has once again delivered a week of world-class squash, culminating in two memorable finals that showcased the diverse styles and unwavering determination of the sport’s elite. Azman’s dominant display and Zakaria’s tenacious comeback will undoubtedly resonate with the local squash community, leaving a lasting impression as the tournament concludes.
Bermuda’s national beach volleyball teams have concluded a memorable campaign at the 2025 ECVA Senior Beach Volleyball Championships in St. Lucia, with both the men’s and women’s pairs showcasing impressive form to secure coveted Silver Medals. The final day of competition saw both teams battle their way through tense semi-finals before facing tough opposition in their respective championship matches.
Megan Hands and Hailey Moss represented Bermuda with distinction in the women’s tournament. Their final day began with a crucial semi-final encounter against Grenada, a contest that saw the Bermudian duo display grit and determination to secure a straight-sets 2-0 victory (26-24, 21-15), earning them a place in the Gold Medal Match. There, they faced a strong St. Kitts and Nevis team and despite a valiant effort, ultimately fell 2-0 (21-14, 22-20). The Silver Medal, however, marks a significant milestone for Bermuda’s women’s beach volleyball program, highlighting their growing competitiveness within the region.
The men’s team, comprising Sean Tucker and Benjamin Barnett, mirrored the women’s success in their semi-final clash against Dominica. In a thrilling encounter that kept spectators on the edge of their seats, the Bermudian pair emerged victorious with a 2-0 win (32-30, 21-16), propelling them into their own Gold Medal Match against the formidable host nation, St. Lucia. The championship final saw Tucker and Barnett push St. Lucia all the way, battling hard to take the match to three sets. Despite their spirited performance, St. Lucia ultimately prevailed 2-1 (21-14, 15-21, 15-8). The Silver Medal secured by the men’s team is a testament to their skill and unwavering determination throughout the ECVA Championships, capping off a successful tournament for Bermuda’s beach volleyball contingent.
New PBs and National Records at the 2025 TYR Swim Series in Fort Lauderdale
Bermuda’s Olympians, Emma and Jack Harvey, concluded their impressive participation at the 2025 TYR Pro Swim Series in Fort Lauderdale with standout performances in their respective finals on Day Four. The siblings once again demonstrated their talent and dedication, leaving their mark on the international swimming stage.
Jack Harvey, recently recognised as Bermuda’s Male Athlete of the Year, continued his remarkable form in the A Final of the Men’s 100m Backstroke. His powerful effort propelled him to a second-place finish, clocking an impressive time of 54.56 seconds. This swim not only secured a strong podium position but also saw him break his own national record of 54.87 seconds, which he had established earlier in the day during the preliminary heats. This double record-breaking feat underscores Harvey’s consistent progress and potential in the backstroke event.
Emma Harvey also delivered a noteworthy performance in the Women’s 100m Butterfly B Final, finishing in a commendable fourth place. Her time of 59.88 seconds was a personal triumph, as it surpassed her previous Bermuda record of 59.89 seconds, set at the TYR Pro Swim Series in Knoxville back in January 2024. This achievement highlights Emma’s continued improvement and competitiveness in the butterfly discipline on the international circuit. The TYR Pro Swim Series has proven to be a successful outing for the Harvey siblings, showcasing their commitment to excellence in the pool.
Late comeback help City to secure a play-off spot, keeping hopes of promotion alive
There were scenes of jubilation at Ashton Gate as Nahki Wells and his Bristol City teammates snatched a dramatic 2-2 draw from the jaws of defeat against Preston North End, a result that clinched their coveted Championship play-off qualification. Trailing by two goals with time running out, City staged a stunning comeback on a day brimming with tension and play-off permutations across the league.
Preston North End, acutely aware that victory would secure their Championship status for another season, had silenced the home faithful when Emil Riis opened the scoring in the first half. The atmosphere intensified in the second period as Milutin Osmajic doubled Preston’s advantage on the hour mark, seemingly putting Bristol City’s play-off hopes in jeopardy. A defeat for Nigel Pearson’s side could have allowed rivals Millwall or Blackburn Rovers to leapfrog them into the top six.
However, Bristol City displayed remarkable resilience and fighting spirit in the final stages. Ross McCrorie ignited the comeback, pulling a goal back to inject a surge of hope into the Ashton Gate crowd. With play-off dreams hanging precariously, McCrorie then struck again, his second goal of the game levelling the score at 2-2 and sparking wild celebrations. The dramatic draw ensured Bristol City’s place in the Championship play-offs, their tenacity and Nahki Wells’ contribution throughout the season ultimately securing them a shot at promotion.
Commissioner of Police: Heightened visibility “helping prevent untoward activity”
Images supplied.
The Bermuda Police Service issued the following media release.
The Bermuda Police Service wishes to express its gratitude to those members of the community who have so far come forward and provided information to assist with the ongoing investigation into the tragic events which occurred on Thursday night. Your help is making a difference
Particularly in response to the video clip circulated of the suspects.
The Bermuda Police Service will maintain heightened patrols islandwide, combined with comprehensive liquor license inspections, and community engagement initiatives for the remainder of the weekend.
Specialist teams, including the Police Support Unit, and Gang Taskforce, will continue to work with patrols and the Roads Policing Unit to conduct 315-F stop and search operations.
This enforcement action has resulted in seven arrests, which included one for possession of a knife, one for dangerous driving by an underage driver, five for outstanding traffic warrants.
The high-visibility presence outside bars and nightclubs helped ensure there were no reports of antisocial behaviour.
Commissioner Darrin Simons stated, “I would like to thank the public for their patience and cooperation when approched by officers at checkpoints.”
“While these checkpoints may be inconvenient, they are helping prevent untoward activity.”
Spain has asked investigators and European Union regulators to investigate last Monday’s outage
FILE PHOTO: Power lines connecting pylons of high-tension electricity are seen during sunset at an electricity substation on the outskirts of Ronda, during a blackout in the city, Spain April 28, 2025. REUTERS/Jon Nazca/File Photo
International news via Reuters:
Europe’s ageing power grid and lack of energy storage capacity will require trillions of dollars in investments to cope with rising green energy output, increasing electricity demand and to avoid blackouts.
A week ago, Spain and Portugal lost power in their worst blackout. Authorities are investigating the cause, but whatever the findings, analysts and industry representatives say infrastructure investment is essential.
“The blackout was a wake-up call. It showed that the need to modernise and reinforce Europe’s electricity grid is urgent and unavoidable,” Kristina Ruby, secretary general at Eurelectric, Europe’s electricity industry association, said.
The European Union’s power grid mostly dates back to the last century and half the lines are over 40 years old. Rising low-carbon energy production and booming demand from data centres and electric vehicles require an overhaul of the grids that also need digital protection to withstand cyber attacks.
While global investment in renewables has nearly doubled since 2010, investment in grids has barely changed at around $300 billion a year. The amount needs to double by 2030 to over $600 billion a year to cover the necessary overhauls, according to the International Energy Agency.
Spain has asked its own investigators and European Union regulators to investigate last Monday’s outage.
While the underlying issues have yet to become clear, grid operator Red Electrica said two separate incidents had triggered the massive power loss.
It follows an acceleration in renewable energy use, especially in Spain, after Russia’s invasion invasion of Ukraine in February 2022 and the resulting disruption of oil and gas supplies focused EU efforts on reducing dependence on fossil fuel.
The share of renewables rose to 47% in the EU’s power mix last year from 34% in 2019, while fossil fuels dropped to 29% from 39%, data from think tank Ember showed.
Spain plans to phase out coal and nuclear power. Renewable generation hit a record high at 56% of Spain’s power mix in 2024.
Wind and solar projects are relatively quick to build compared with grids, which can take more than a decade.
Part of the problem is the huge sums and complexity of improving a grid over a large distance.
The European Commission has estimated Europe needs to invest $2.0-2.3 trillion in grids by 2050.
Last year, European firms invested 80 billion euros ($90.5 billion) in grids, up from 50-70 billion in previous years, analysts at Bruegel said while adding investments may need to rise to 100 billion.
INTER-STATE CONNECTIONS
Spain and Portugal’s power systems are among those in Europe that lack connections to other grids that can provide back up.
Spain needs more links to France and Morocco, said José Luis Domínguez-García from Spain’s energy research centre IREC in Catalunya.
Spain has only 5% of connections outside the Iberian Peninsula, he added.
As some other countries also lag, the European Commission has a target to increase interconnection to 15% by 2030, from a previous goal of 10%, meaning each EU member country should be able to import at least 15% of its power production capacity from neighbouring countries.
Spain will reinforce connections with France, including a new link via the Bay of Biscay that will double the interconnection capacity between the two countries, Spain’s grid Red Electrica said on Tuesday.
NEED FOR BACK UP
As solar and wind generation grows, the challenges go beyond upgrading grids to the need for back-up generation.
Solar and wind farms generate direct current power, while traditional gas or nuclear plants generate alternating current.
DC power is converted to AC in inverters to standard 50 Hertz frequency for European grids and use in homes and businesses. If power generation drops, the grid requires back-up AC power to prevent the frequency from dropping.
In the event frequency drops, automatic safety mechanisms disconnect some generation to prevent overheating, damage to transformers or transmission lines. If too many plants drop off at the same time, the system can experience a blackout.
Before last week’s outage, Spain had suffered power glitches and industry officials had repeatedly warned of grid instability.
Spain’s energy officials have also said the country’s plans to shut down all seven of its nuclear reactors by 2035 could put power supply at risk.
Portugal has only two back-up plants – a gas and a hydro plant – able to quickly respond if the grid needs more power, Portugal’s Prime Minister Luis Montenegro said on Tuesday, adding the country wants more.
In Britain, a blackout in 2019 cut power to a million customers, when a lightning strike and a second, unrelated incident lowered the frequency of the grid.
Since then, the country has invested to expand battery storage and had around 5 gigawatts of capacity installed at the end of last year, according to industry association RenewableUK. It can help balance the grid in the same way as power plants.
Europe has 10.8 gigawatts of battery storage and it will grow to 50 GW by 2030 – much less than the required 200 GW, according to the European Association for Storage of Energy.
In Ireland, Siemens Energy has built the world’s largest flywheel, which can also operate as power storage and help to stabilise the grid.
Reporting by Nina Chestney; additional reporting by Susanna Twidale in London, Kate Abnett in Brussels, Sergio Goncalves in Lisbon; editing by Dmitry Zhdannikov, Simon Webb and Barbara Lewis
The U.S. deported to Rwanda a resettled Iraqi refugee whom it had long tried to extradite
FILE PHOTO: Olivier Nduhungirehe, Minister for Foreign Affairs and International Cooperation of Rwanda addresses the Human Rights Council at the United Nations in Geneva, Switzerland, February 26, 2025. REUTERS/Denis Balibouse/File Photo
International news via Reuters:
Rwanda is in the early stages of talks to receive immigrants deported from the United States, Rwandan Foreign Minister Olivier Nduhungirehe said on television late on Sunday.
Rwanda has in recent years positioned itself as a destination country for migrants that Western countries would like to remove, despite concerns by rights groups that Kigali does not respect some of the most fundamental human rights.
Kigali signed an agreement with Britain in 2022 to take in thousands of asylum seekers from the UK before the deal was scrapped last year by then newly-elected Prime Minister Keir Starmer.
“We are in discussions with the United States,” Nduhungirehe said in an interview with the state broadcaster Rwanda TV.
“It has not yet reached a stage where we can say exactly how things will proceed, but the talks are ongoing…still in the early stages.”
Trump launched a sweeping crackdown on immigration and attempted to freeze the U.S. refugee resettlement program after the start of his second term in January.
His administration has pushed aggressively to deport immigrants who are in the country illegally and other non-citizens.
The United Nations refugee agency (UNHCR) warned there was a risk some migrants sent to Rwanda could be returned to countries from which they had fled. Kigali denied the allegations and accused UNHCR of lying.
Last month the U.S. deported to Rwanda a resettled Iraqi refugee whom it had long tried to extradite in response to Iraqi government claims that he worked for the Islamic State, according to a U.S. official and an internal email.
The Supreme Court in April temporarily blocked Trump’s administration – which has invoked a rarely used wartime law – from deporting a group of Venezuelan migrants it accused of being gang members.
Reporting by Nairobi Newsroom; Writing by Hereward HollandEditing by William Maclean and Ros Russell
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