Bermuda's Premier David Burt proposes tax cuts and increased spending to boost economic growth.
Premier David Burt of Bermuda has outlined plans to cut taxes and fees for the fiscal year 2025-26 without raising taxes. Key measures include reducing mobile phone taxes and car licensing fees, raising duty-free allowances, and cutting energy taxes. The government will also increase spending on infrastructure and social services, financed partly by a new corporate income tax expected to generate $187 million. These proposals aim to enhance living standards and support economic growth, with a projected $84 million budget surplus.
3 months ago
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