Bermuda premier offers to take pay cut

Bermuda’s Premier Paula Cox has reportedly offered to take a pay cut in exchange for a new pay deal for civil servants.



Government has asked workers to take an eight per cent pay cut, as Bermuda battles to get out of a recession which has seen the national debt balloon to more than US$1 billion.



However, the deal also includes a freeze of the pension contributions of public workers for a year, which means they would still take home the same pay.



The deal, which would save government around US$31 million and allow workers to keep the same pay, was put to the Bermuda Industrial Union by Cox, who earns 224,000 a year.



The union said it is ready to make a counter-proposal.