The FNM and our money

EDITOR, The Tribune

Debate on Supplementary Budget through May, 2022… yet again input of so many of the MPs, clearly shows their personal lack of information and facts and really reality.

The Opposition postures as if they were Not Government from May, 2017 through to September 16, 2021. Incredibly, basically patting itself on the back, in their mindset positive, but refusing to take full responsibility of the mess we are in. GDP Ratio now in excess of 100% and they, the Opposition suggest they did well?

Boy, the new leader of the Opposition, is going to be interesting in his presentations, well theatrics, but, sir, please if you do not understand that Taxes levied on the business sector, are never paid by the business, but by us - Mr, Mrs and Ms consumer… 100%. This simply means add 1-2-10-20% Corporate direct Tax, up goes inflation and costs.

The average wage in The Bahamas is not conducive to Income Tax…take a hotel worker – they rely not on their basic wage but totally on their share of gratuity, which makes up probably 80-90% of their take home… three-four children dependents - financing a car if lucky enough have a mortgage, a payment monthly and for 15-20 years… if their home is over $250k, liable to some Property Tax (of course few pay that). What opposition leader is the average annual saving of a hotel worker? Is there even a need to discuss Income Tax, as only the upper end of the social sector has enough spare money to contribute.

Appreciate Prime Minister and the Minister of Foreign Affairs, had to be present for the recent ceremony in Barbados becoming a Republic, but the Budget debate was in full swing, without the Minister of Finance present – why? Where was he at this important juncture? Some reports he was in Miami, won’t go further except surely as Minister responsible for Finance, his place was solely and only in The House of Assembly, not in Miami.

Let’s see how the now Opposition handled owed Taxes from $67m they deducted and exempted payment of more than 50 percent of that to $35-36m! Audit report indicates there is a difference in unaccountable of $1 billion – billion, Editor, and the Opposition smiles and suggests they were good stewards?



December 2, 2021


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