EDITOR, The Tribune.
An article, Banks Facing Billion Dollar Hit, in Barbados was making the rounds on Social Media this past weekend and it is an example of theft by government. No more, no less.
Bear with me.
Barbados was on this trajectory for the last 20 - 25 years with their Government pretending it is a “Unicorn” and could provide services below cost and free university education and more by simply borrowing money to hide tax and cost increases needed to pay for it.
Sound familiar?
You got it, it’s the same fiscal trajectory The Bahamas has been on for decades.
While I remain concerned that raising the Value Added Tax (VAT) rate to 12% could backfire and effect economic growth just as the introduction at 7.5% did just three years ago, I applaud the government’s alleged concern to right fiscal ship of state before The Bahamas is backed into the same situation Barbados faces.
All this does not disguise my empathy for the taxpayers of Barbados. They were convinced government could provide every need and wipe every tear, but now they understand it was all a big lie.
Too bad that politicians believe they have to provide fantasies to get elected.
It’s even more regrettable that voters believe in Unicorns too.
RICK LOWE
www.weblogbahamas.com
Comments
sealice 5 years, 10 months ago
Don't worry Rick we realize quite clearly that this Gov't is as piss poor as the last one and the next will probably be the same
DDK 5 years, 10 months ago
The sick thing about this so-called budget is that it is a recipe to kill an economy that is struggling to survive, has just seen a glimmer of light at the end of the tunnel, and then BAM - they come out with guns blazing and kill it all without addressing any of the real issues that got us in the mess in the first place, except, of course, blaming the PLP. It is a dangerous gamble. There had to be and there was a better way.
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