EDITOR, The Tribune
Over the past couple months the government has been telling us what a great success the implementation of Value Added Tax (VAT) has been.
On the one hand they brag that they’ve taken record dollars from the taxpayer with VAT – yes you read that right – “taken” record tax dollars. Yet on the other hand they want to borrow another $250m in short-term securities starting in July.
As suspected by many people, the government has no intention of reducing spending to get their fiscal house in order, or applying the VAT proceeds to debt reduction. Nor will they disclose how the VAT collections are being utilised.
Why continue to increase the debt that is already over $6 billion and at the dangerous level of 70 per cent of Gross Domestic Product if VAT is so successful?
When government trips over its own rhetoric it is a pathetic sight, but it’s the taxpayer that always gets it good and hard.
RICK LOWE
Nassau,
May 6, 2015.
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