The Tribune

EDITOR, The Tribune,

I have been blessed with the opportunity to travel extensively, participate in certain cultures and observe opportunities citizens have in their respective countries. The Bahamas is a wealthy nation and in my humble opinion should be further along in it’s development had we adopted certain ideologies to empower it’s people, fifty years ago.

Our beautiful country is a playground for high income earners and the United Bahamian Party (UBP), Progressive Liberal Party (PLP) and the Free National Movement (FNM) have historically adopted the concept of “trickle down economics”. This concept gives concessions, tax breaks and benefits to corporations in return for mostly menial jobs. This form of economics in my opinion is widening the inequality between the rich and poor which we know leads to social and economic challenges. Just recently, the headline in the mainstream media noted that crime is steadily increasing. Why? After 50 years are we surprised?

Why not “trickle up economics?”. I think the benefits of taxes from harnessing our natural resources for the empowerment of our people will be more advantageous as we share the wealth and prosperity evenly across social groups.

Documents have been revealed by the Coalition of Independents’ Party leader showing natural resource contracts dating back to 1957 (UBP) era, 1969 the Pindling era and 2012 the Free national Movement (FNM) government. Tax revenue to be received by government in one previous contract was negotiated in return for an insignificant and minuscule amount of dollars per ton (aragonite deal) on behalf of the Bahamian people.

What a waste!

I cry shame on the present and past governments who have been tightlipped on these contracts. The Freedom of Information (FOIA) Bill was recently enacted but is still not functional and continues to be kicked down the road.

What are they hiding and don’t want you to know?

The Bahamas has over 25 different natural resources that was given to us by God. It is a known fact that natural resources utilised by countries causes their economies to flourish. One only has to look at Alaska, Dubai, Norway, Qatar and many others and observe the benefit to it’s citizens.

I have no problem with foreign direct companies investing in our country but that should not be our main means of injecting capital into our economy, and we all know tourism is too fragile to be one of the main sources of revenue.

To the intellectuals that are inquiring about substantiating a plan or theory on how to harness our natural resources - I say to you - how can we put forth substantiated plans when access to information is blocked!

Lack of Freedom of Information in a country leads to poor quality of governance, more corruption while lessening transparency and accountability. A shift is needed from total reliance on tourism as our #1 product to natural resources which will be fundamentally important in our history moving forward.

In “trickle up economics” the standard of living of lower income individuals will be enhanced. This will lead to producing more goods and services at the bottom which will spread throughout the entire community trickling up to the wealthy who in turn become wealthier.

A win win situation for everyone.

I support Lincoln Bain and Maria Daxon’s philosophy of having a Sovereign Wealth Fund for its citizens. Ms Daxon has her own unique style and is a woman of integrity and character - something that is earned and not bought.

Mr Bain - is not a perfect man with flaws like you and I but is best suited to take us into the new Bahamas. The Bible is my book of authority, and my God sometimes works through incredibly flawed people. Just look at David, Paul and Peter to name a few giants.

Abraham is called the “father of Faith” yet he told his wife to lie twice to secure his own life.

God takes the improbable and accomplishes the impossible. When we empower people, they can manage their lives better and begin to build wealth which leads to lower crime, lower health risks, better access to nutritional food, improved employment opportunities and better access to higher education.

I am in support of the Coalition of Independents as their mantra coincides with my passion in reducing poverty in The Bahamas while empowering our people through education and ownership.

DR VERONICA MCIVER

April 3, 2023