EDITOR, The Tribune.
Re National debt
Something does not add up. Forgive me if I am wrong but VAT was introduced due to pressure from the IMF and general gloom from credit agencies who were continuously downgrading our economic status, their fears are – we are drowning in debt ie the National Debt is huge.
Bear in mind if we are downgraded to a “ junk status” the game will be up for all of us. The government would not be able to raise loans at normal rates of interest.
To put it another way, we would be on the slippery road of currency devaluation and look at the repercussions of that on Jamaica as an example, in 1990 their dollar was trading at $6 Ja to $1 US. Now its around $115 to 1!!!
So the Christie administration introduces VAT to pay down on the national debt and allay the fears of the IMF and the credit agencies. Makes sense good decision well done, Christie!
Now let’s look at what has happened after the first five months of the new tax. VAT has raked in $209m in the first five months of the year (up to the end of May).
So as logic would dictate presumably the national debt has gone down considerably. Well you could knock me down with a feather it’s actually gone up by $58.6m!
By any chance are the PLP in power? Will the electorate of this country ever realise the seriousness of casting a vote and the damage they inflict on themselves and their country?
THE REALIST (again)
Nassau,
October 15, 2015.
Comments
shortpants 8 years, 5 months ago
We are going to need a Commission of Enquiry for this bunch of thieves.They are the ones the next Government need to make examples off . That is the only way to get our country back from all the mayhem. We cannot let these people take us down the road of destruction and get away with all the bullshit they have put us through. They could pack up and leave tis country most of us could hardly go over P.I Bridge .So we need to start putting people in place for this event because that's what it will be .
asiseeit 8 years, 5 months ago
If this commission finds ill gotten funds they should be used to pay down our debt. Look into the finances of all sitting M.P's for the last 43 years and any that have funds they can not explain will have those funds put towards the massive debt those same M.P.s have saddled us true Bahamians with!
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