The Tribune

EDITOR, The Tribune.

I listened and read with concern what the Prime Minister, Perry G Christie said on the news, Tuesday, February 3, 2015 and as recorded in The Tribune, Wednesday February 4, 2015 respectively, concerning the “Money Lenders – Have Created Modern Day Slaves”.  

While the interest rates administered by the banks may be astronomically high, under which portfolio do the banks fall? I stand to be corrected but, as a layperson and as far as I am aware, these banking institutions fall under the Ministry of Finance, which is headed by, whom may I ask?

I think that the PM is certainly out of touch and if he was so concerned about the consumer debt, if left unchecked will turn too many people into modern day slaves then why would he further saddle the Bahamian people with VAT at 7.5 per cent on goods and services?

While the speech may sound good, informing the audience that if left unchecked, it will destroy lives and kill the local productive economy, then as Prime Minister, (as you always remind yourself) you have the power to do something tangible about the situation.

Banks have levied a charge of $5.00 to cash a cheque which is so unfair. We, as a people, are sick and tired of just words; these are the same people to whom you promised less than three years ago, help and hope.   

While people may be taking out loans for whatever the purpose, they can only receive the funds once they qualify for the loan.  Government workers are more likely to be approved on the spot for loans and maybe he can start with this category by implementing checks and balances to ensure that they have more pocket change at month end. Or maybe those who default on their payments may have to be reclassified as “Resolve”.    

It is ironic that he should say that the personal debt growth can destroy lives, but in my opinion, lives have already been destroyed, check the recent unemployment rate which has been the highest ever, more than 20 per cent and whether you are employed or unemployed you are faced with having to pay 7.5 per cent VAT on goods and services so how do you expect them to save?

The trauma of having to pay VAT on one’s BEC bill is pathetic, you can hardly keep the lights on now, and even more distasteful is having to pay VAT to the Doctor and for the medication.

Only heaven knows how those persons who attend the Public Hospitals and clinics will survive when they have to fill their prescriptions privately.   I guess at the end of the day there will be two classes, the poor which you have with you always, and the rich as there will be no in between.

MIZPAH STRAPP

Nassau,

February 4, 2015.