Speeches by N. H. Cole Simons

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

35 words

Thank you, Mr. [Deputy] Speaker . This has been an interesting debate so far. I would like to start by saying — 666 1 March 2019 Official Hansard Report Bermuda House of Assembly [Inaudible interjections]

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

9 words

—that my friend, Mr. Finance Minister, recently — [Laughter]

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

9 words

—took on this role. And I am sure— [Laughter]

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

14 words

—that this new Finance Mi nister found this an eye- opening experience. [Inaudible interjections]

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

103 words

Mr. [Deputy] Speaker, the Minister of Financ e has had a colossal job in putting together this budget. But one thing stood out to me when I read the budget that was very indicative of how he felt Bermuda should be developing in this coming year. That simple point was when he downgraded the GDP projec tions by 1.0 per …

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

592 words

Mr. [Deputy] Speaker, let me share with you some comparatives. We have said that our revised GDP growth will be between 0.5 [per cent] and 1.0 per cent. I looked at the IMF and I said, S o what are our friends doing overseas? St. Lucia’s growth rate was 3.6 [per cent]. Antigua’s is 3.0 per cent. St. Kitt’s is …

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

555 words

Mr. [Deputy] Speaker , I will continue. At the end of the day, for 2018, the economy has truly slowed down. It was at $1.5 billion and, again, this was a reduction of 0.021 per cent. Mr. [Deputy] Speaker, as was said earlier, the Bermuda infrastructure fund that was due for inves tments, direct capital investment that would help our …

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

249 words

Mr. [Deputy] Speaker, right now, there are outstandin g guarantees for Bermuda Housing Corporation to the tune of $29.3 million. There is a guarantee for WEDCO for $71.8 million. There is a guarantee for BDC for $1.2 million. There is a guarantee for the Hospitals Board under the PLP of $278 million and there is a Morgan’s Point guarantee of …

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

31 words

Mr. [Deputy] Speaker, other commercial properties do not pass . . . or other commercial businesses do not pass on that fee to their employees, Mr. [Deputy] Speaker — [Inaudible interjections]

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

18 words

Mr. [Deputy ] Speaker — Hon. Zane J. S. De Silva: Point of order, Mr. [Deputy] Speaker .

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

7 words

Mr. [Deputy] Speaker — [Inaudible interjections ]

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

239 words

Mr. [Deputy] Speaker, at the end of the day, we still need to reduce the cost of doing business in this country, and reduce the cost of living expenses in this country. And this is just an additional cost that we are putting on the average man in the street, quite frankly, Mr. [Deputy] Speaker . Mr. [Deputy] Speaker, the …

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

37 words

He said there was an i ncrease on the concessionary tax rate to 7 per cent. That is an increase. Mr. [Deputy] Speaker, there is a— Hon. E. David Burt: Point of order, Mr. [D eputy] Speaker.

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

15 words

I will move to my next topic. I will take my guidance from the Premier.

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

4 words

Mr. [Deputy] Speaker —

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

7 words

I withdraw the statement, Mr. [Deputy] Speaker.

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

237 words

Mr. [Deputy] Speaker, I would like to continue. The foreign curr ency purchase tax —again, Mr. [Deputy] Speaker . . . Again, this increases the cost of doing business, a cost of living in Bermuda, as we all know that we have to import 90 per cent of our goods and services. And again, this Government is increasing the tax …

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

13 words

Mr. [Deputy] Speaker, their house is over the $42,000 range, $45,000 range —

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

55 words

And so, what they have said to me is that even w ith the deduction their tax went from $1,590 to $3,080 —almost doubled, Mr. [Deputy] Speaker. And that is what I am saying, and this is di fficult on someone who lives on a fixed income. And there are many, many others like this.

1 Mar 2019 House of Assembly

Official Hansard Report - House of Assembly

33 words

So, again, is this indicative of a caring PLP Government? We are going to take the money where we can — Hon. Zane J. S. De Silva: Point of order, Mr. [Deputy] Speaker.