HAMILTON, Bermuda, CMC – Premier David Burt, who said that for many Bermudians a car is not a luxury, says he will be taking legislation to Parliament on Friday to reduce licence fees by a further 10 per cent.
Burt, in a statement, said that when the measure is approved, the annual licence fees will have been reduced by 10 per cent on top of the 10 per cent reduction already delivered since 2018.
“In practical terms, this means that in 2026, families will be paying between US$57 (Class A) and US$318 (Class H) less per year to licence their vehicles.
“For many Bermudians, a car is not a luxury. It is how parents get their children to and from school, how workers commute to their jobs early in the morning or late at night, and how families manage the everyday responsibilities of life on our island. Reducing these fees is a practical way to help ease the cost pressures that many households continue to face, Burt said.
He said that the new measure builds on the work outlined in the recent budget, including the largest payroll tax cut for workers in Bermuda’s history, saving Bermudians up to US$840 annually.
“Some have suggested that relief should only be provided to a limited group of people. Our view is different. Every Bermudian who pays vehicle licence fees deserves to benefit when the government can reduce costs.
“Families across Bermuda are feeling the effects of rising global prices, and broad-based relief ensures that working people in every parish feel the difference. Importantly, this reduction is being delivered while the government continues to manage the country’s finances responsibly, strengthen Bermuda’s economic position, and steadily reduce the national debt.”
Burt said that the legislation reflects a simple principle, “when the country is doing better, Bermudians should benefit too,” and that he is looking forward to presenting the legislation to Parliament as his administration continues “the work of building a fairer Bermuda where everyone shares progress”.
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