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The Vat Gamble

EDITOR, The Tribune.

MAY 2017 brought a lot of hope but the subsequent 12-16 months that hope has been converted to anxiety - anxiety in that does Government really understand the complexities of governance?

Bahamians are no longer ignorant - we can respond in an educated fashion almost instantly but clearly government seemingly cannot.

The statement from PM Minnis as to the position of the IMF and our national finances is incredible – frightening and in global circles must be very disturbing.

The Bahamas became a member of the World Bank in August 1973 just a few weeks after Independence - the IMF visits Nassau annually and in detail looks at our fiscal and financial situation and “recommends”. All governments hope for a good quarterly report.

To try to muse the advice given to Haiti by the IMF to support the 12% Vat simply defies understanding.

The Minnis gamble is that by taxing the economy by 5% we must have a GDP growth over the next three years must aggregate more than 5%.

China GDP growth is six plus percent…a whopping gamble.

Fail VAT will be 15-18% if not higher…

W THOMPSON

Nassau,

July 17, 2018.

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