Presenting post-Throne Speech roadmap to bring Bermuda up to speed
A fairer, more stable, affordable Bermuda—Premier and Finance Minister David Burt and Attorney General Kim Wilkerson promising equity, fairness, and the review of older legislation that might not be fit for purpose in 2025.
The duo addressing the media this morning at the Cabinet Office. Premier Burt says that the Government’s stated mission outlined in last week’s Throne Speech will build on the roadmap presented in the November 2024 Throne Speech in the areas of banking, housing, pensions, and employee protections.
“ In November, keeping with our promise, the government table, legislation to establish a new payroll taxes from the public service industry. This legislation implements fixed payroll tax levels on minibus, seeding capacity while reducing taxes by 40% for taxers. We’ve increased the maximum severance for employees to 32 weeks. We also meant the law to remove the requirement of a payroll tax on severance pay, providing stability and fairness for employees in a period transition.”
A commitment to environmental protections also in motion through the Clean Air Act, which the Premier says will “strengthen air standards and safeguard our environment, the health and quality life in Bermuda.”
Premier Burt pointing toward the banking industry, pledging to ensure Bermudians do not face unfair barriers to opening a bank account. Fair and balanced tax burdens via reforms in light of the Corporate Income Tax. Funds from CIT managed prudently.
You can watch the full press conference, including Attorney General Kim Wilkerson’s unveiling of pending legal reforms and the creation of a law reform commission, below.
