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Bermuda: Ten per cent pay cut for Cabinet ministers
2013-03-07 13:23:33 | (0 Comments)
Bermuda's MPs have passed a resolution giving cabinet ministers a 10 per cent pay cut effective April 1.
Premier Craig Cannonier said the overall saving was relatively small, but in the country's present economic and fiscal circumstances, it is the right thing to do.
The Premier’s salary will decrease from US$168,069 to US$151,262 a year, while the Deputy Premier’s pay goes from US$125,491 to US$112,942.
Other ministers in the House of Assembly will be reduced from US$112,046 to US$100,841.
The same pay is set for ministers serving in the Senate.
The cut in ministerial salaries was pledged by Cannonier when he was sworn in as Premier following the victory of the One Bermuda Alliance (OBA) in the December general election.
The House recently authorised raising the national debt ceiling from US$1.45 billion to US$2.5 billion before the country's coffers ran dry.
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Source: The Gleaner/Power 106 News
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