EDITOR, The Tribune.
International investors look for safe havens in which to place their funds and conduct business. Before our family began to invest in The Bahamas several years ago we were assured by your Investment Authority and Nassau lawyers that indeed The Bahamas was such a place. Foremost in our thinking and those of other Canadian investors whom we know was that you were, like Canada, a Constitutional Monarchy with Queen Elizabeth II and a local Governor-General and were thus stable and had impartial British style courts. We felt our investments were well protected.
However, over the past few months we have felt very uneasy about events and signals coming from your Government officials. This has also created unease amongst other Canadians with whom we speak regularly. The news reports on Canadian television and in the media a few months ago of your former Prime Minister arguing with the then Opposition MPs about who would take credit for removing The Queen’s portrait from your currency and not placing it on any new denomination banknote was very bad publicity here. We felt that this undermined all the statements from your Government departments.
Now this week we have read that your Foreign Affairs Minister has stated that it is his quest working with new MP’s to work for a republic. This is very disturbing news. He had just returned from the Barbados republic ceremony. Many Canadian investors, including ourselves, have pulled our investments out of Barbados. The fact that the Barbados people were denied a referendum on whether they wanted a republic sent a bad signal about a government acting in an arbitrary way. Also the fact that Communist China is becoming heavily involved in Barbados is quite worrisome. Very few investors want to get involved in failing and heavily indebted third world republics.
We sincerely hope that the political leaders in The Bahamas will think very seriously before abolishing a system of government which not only brings prestige to your country, but assures overseas and local business people that they are in a country with a solid and proven foundation. Countries like Canada, Australia and New Zealand have prospered over the years by maintaining the Westminster system and The Bahamas has been a valued partner. Let us hope common sense will prevail.
PETER JACOBSEN
Canada,
December 5, 2021.
Comments
Alan1 2 years, 4 months ago
This is an excellent letter. Right to the point. I hope our Government and Financial people are listening. We cannot afford to destroy our economy by changing a form of government which is safe and reliable. No republic will give us any improvement. In fact most of the third world republics are complete failures now run by dictators. This is surely not what we want for our Bahamaland.
Maximilianotto 2 years, 4 months ago
Proud Barbados Republic is broke. Opium for the masses. Careful with FDI. If BA stops flights China will have to take over.
Andy1 2 years, 4 months ago
I'm a Canadian and I would like to apologise for the presumptiousness and arrogance of Peter Jacobsen's letter. For one thing, recent polls show that a majority of Canadians would like Canada to become a republic and that most of the rest are ambivalent about the monarchy. Moreover, I can assure that that very few Canadians, if any, have any views on whether or not the Bahamas should become a republic nor do we feel we have the right to tell the Bahamas what type of system of government you should adopt. Investors look at economic stability and opportunity. They could not care less whether your head of state is the Queen or a president. Do what you like with your constitution. Do not pay any mind to meddlers like Mr. Jacobson who would be so arrogant as to tell you what you should decide.
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