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Level Of Debt Facing The Nation

EDITOR, The Tribune.

On September 24th, just a few days after the election, we heard the news that the financial Agency - Moody/5 - had seriously downgraded The Bahamas. On September 24th, the National debt stood at $10.35 billion, plus days of 0.13 million and ticking.

Has the new Government put in place the “Revenue Enhancement Unit”... a basically easy exercise for a group of clerks who will go through the long lists of persons who have arrears in taxes and call them on the telephone... an easy one-two-three could have been done in the first week.

Real Property the same the high end personal or commercial property those arrears must be paid and, Editor, please no concessions-discounts because your friend you knew for years you owed pay up with half the appropriate provided for penalties.

This thing... Sports in Paradise... sporting events on an international level should not be even thought about if they do not have a considerable component that will guarantee beds in hotels — AirBnBs... simply put if no visitors don’t fund it’s a waste of time. Oh, yes, there is an emotion over the IAAF relays and the Bahama Bowl, American Football, but in both cases the bleachers of Thomas Robinson were basically empty and the cameras showed it.

Looking again at the pre-election Manifesto of the PLP another interesting item. “Lower imports through buy local initiatives”...

Editor, Black Friday —thanksgiving coming up let’s see how serious is the Government on limiting imports....shopping ‘till you drop by residents in Miami...let’s see. Minnis & Co allowed the returning resident $1000.00 a year Duty Free and on top have Duty Free and VAT free concessions through Over the Hill..... double-dipping with no compensation for the loss of Revenue ain’t too sensible.... Let’s hope pre-Black Friday serious adjustments will be put in place so the Treasury does not lose out again.... Let’s see if Government is serious...it’s easy to write Manifestos, but let’s see if you will implement.

H HUNT

Nassau,

October 28, 2021.

Comments

truetruebahamian 6 months, 1 week ago

There are buildings which have been closed and/or with revenue so little that they do not have enough to pay the property tax demands. Last year some had to borrow to pay which means paying back more over time than what has been coming in. Aside from that after being chased to pay the full amount and doing it with said borrowed funds a 50% relief was put in place. As there has been no uptick in business or rents in the downtown area, an accomodation must be made to provide some relief until we are back to receiving enough to cover costs - maintenance, insurance, business licences, NIB, utilities and on and on. Some understanding is necessary and those who have asked for and enquired as to some remedy should be answered and considered if anything is to survive. Downtown has been hit hard as anyone can see. Taking people to task to pay what they have not been able to make through this stagnation will not benefit anyone, and some grace must be granted - even more so for those to whom the 50% easement was not available after all that making an honest effort to responsibly do what we could to cover these demands.

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JokeyJack 6 months, 1 week ago

You ask for grace on tax payments while being forced to inject with experimental drugs? Where do you expect to find grace amongst people that would do this? The people you see dining inside of restaurants. Those are your true enemies. They are supporting theircc madness with their wallets. You think they care? You losing you job. They dont care.

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Maximilianotto 6 months, 1 week ago

Interesting math…0,13 m/day interest and n $10,3 bn debt? How’s this been calculated?👎👎👎 that’s 0,4%? Better never repay this gift.🤣🤣🤣 Anyone commenting?

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hrysippus 6 months, 1 week ago

After almost 50 successive years of governmental reckless management of the country's fiscal affairs we are now approaching the endgame. I suspect the only way forward in the short term that I can see is that we sell our fishing rights, probably to China. Marine resources being our major natural resource. Possibly also our sand.

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