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More than $1bn borrowed in a year

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Hubert Chipman

By KHRISNA VIRGIL

Tribune Staff Reporter

kvirgil@tribunemedia.net

WHILE the FNM has been criticised for allegedly spending too much money, they yesterday hit out at the PLP government for borrowing in excess of $1 billion since they took office more than one year ago.

According to FNM St Anne’s MP Hubert Chipman, it came as no surprise yesterday that the Christie administration moved a resolution to borrow more than $400 million. Last year the government financed $600 million to pay off debts which they claimed was left by the former Ingraham administration. He said it was extremely alarming that in just one year, the government had reached the billion dollar mark.

In addition, the FNM believes that the 2013/2014 budget can only be summed up as a “typical empty vacuum budget.” They also criticised the government for raising taxes despite promising that they would not be increased.

“They said no new taxes,” Mr Christie said, “but the Prime Minister was not able to tell us when or what type of increases the taxes will be.  

“We heard from him this morning that there will be an increase in motor vehicle licenses. We also heard that there will be immigration fee increases, a tourism fee increase and excise tax on cigarettes.

FNM leader Dr Hubert Minnis said the budget had only made several promises which were bound to be broken.

“The Prime Minister said in this budget they would fulfil the pledges that they’ve made to the Bahamian people, they have made pledges today, they have made pledges before. The record speaks for itself. The pledges that they’ve made before they were not able to keep.”

The budget has also neglected the family islands, according to FNM Deputy Leader Loretta Butler Turner.

She said: “Being the representative for one of the family islands, I was left with the feeling that there was a huge void with regard to what is going to happen in the family islands. Everything seemed to be generalised.

“I did hear certain family islands articulated for education and other projects, but it appears once again that the public’s money is not being used equitably in the development of family islands, Long Island in particular, which has been very good in rendering their taxes to the public purse. (They) seemed to have been left out once again.

“I think overall we have to also look at the fact that even though the government has used a lot of fancy words with this budget, it is definitely vacuous in that I do not see anything on the ground that is going to create job stimulation.”

Comments

B_I_D___ 10 years, 11 months ago

Food and bread basket items prices going up with immediate effect to cover the increased taxes in this budget...just saying... Be sure to thank the government you voted into power.

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banker 10 years, 11 months ago

Soon be eating pigeons and coconuts. Can't even afford conch.

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