December 6, 2018
Finance Minister K Peter Turnquest.
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Public sector pay negotiations are a potential "fly in the ointment" that may cause the Government to miss its 1 percent deficit target for 2019-2020, the deputy prime minister warned yesterday.
The deputy prime minister yesterday argued that every dollar invested in the government’s flagship small business initiative generates an economic impact more than five times’ greater.
ADMITTING officials don’t know why the country’s GDP performance fell below the International Monetary Fund’s forecast, Finance Minister Peter Turnquest said critics have no legs to stand on as consistent economic growth is apparent.
The government was yesterday said to be “feeling pretty good” about VAT’s performance despite collecting just 55.6 percent of the 2018-2019 full-year forecast during the first nine months.
A KEY agency in The Bahamas’ battle against financial crime had been “put away in a corner and forgotten about”, the deputy prime minister argued yesterday.
FINANCE Minister K Peter Turnquest has confirmed the Office of the Auditor General will receive additional resources in the Minnis administration’s upcoming budget.
THE government will now consider whether to launch a forensic audit into the National Sports Authority for legal basis to recover funds, Finance Minister K Peter Turnquest said yesterday.
The deputy prime minister yesterday voiced optimism that proposed fintech/crypto regulations will make The Bahamas a Caribbean leader, adding: “We’re knocking on the tip of the iceberg.”
The government last night said it “recognised the merits” of reform after the IMF revealed The Bahamas’ last US$750m sovereign bond issue did not meet evolving global standards.
The deputy prime minister has pledged that VAT refunds will not be unduly “withheld” from the insurance industry, voicing hope the two sides will resolve their differences “in the near future”.
DEREK’S BILLIONS - IT’S A FAIRYTALE: Turnquest speaks out to rubbish 20-year-old ‘stolen fortune’ myth
FINANCE Minister K Peter Turnquest told Parliament allegations the government and a local bank thwarted Derek Rolle Kelly’s purported inheritance have no basis and are entirely untrue.
The deputy prime minister yesterday conceded that the government will not reap “any immediate political benefits” from much-needed reforms to eliminate structural economic bottlenecks.
DEPUTY Prime Minister and Minister of Finance Peter Turnquest defended Prime Minister Dr Hubert Minnis’ travel to meet European Union officials after former Foreign Affairs Minister Fred Mitchell attacked the trip.
The present shutdown of a large part of US Government operations is no minor blip in how the country is run.
The deputy prime minister has asserted that the new regulatory structure “will not be the death” of International Business Companies (IBCs), as not all will have to pay business licence fees.
THE Minnis administration remains concerned that the goal post continues to shift when it comes to the Bahamas maintaining global tax standards, Finance Minister K Peter Turnquest said yesterday, adding this issue has been argued in international forums.
The Bahamas “will have some serious concerns” if its inclusion on a Dutch “blacklist” means European Union (EU) countries are going further than the bloc’s own anti-tax evasion offensive.
DEPUTY Prime Minister K Peter Turnquest has said that concerns over World Trade Organisation ascension are being “exaggerated,” further asserting that the government would work to “protect” the interests of local businesses.
The Government last night hailed its success in breaking “the perpetual cycle of credit rating downgrades”, despite Standard & Poor’s (S&P) warning its reforms will “take time to pay dividends”.
The IMF yesterday gave the Government a much-needed “boost of confidence” with an upbeat assessment of its economic and fiscal reform progress despite the “many challenges ahead”.
TAX dodgers will be subject to criminal charges before the court under the government’s proposed amendment to the Penal Code.